Now Reports Positive Net Income for 2015

Makati—(PHStocks)—At the meeting Now Corp.’s (PSE: NOW) Board of Directors held on 28 March 2016, it was reported that for the preliminary year-end total revenue for 2015, the company hit positive net income for the first time after years of mergers and acquisitions, mainly attributable to the Company’s existing businesses namely IT Resource Management and Software Collaborations.

The Board also discussed the five-year business plan, earmarking a capital expenditure of about $50 million for its broadband and wireless cable TV business with projected revenue of $346 million at the end of the five-year period with a net income of $120 million by the end of the five year-period.