More AnalysisRevenue rose 29% (3% organic) to E228.9M. Net income rose to E0.15 per share from E0.09 per share. The quarter was fairly quiet with acquisitions with only E35.7M spent on deals. Cash flow rose 29% to E10.9M. There is not much 'meat' in the release and there are no street estimates. The balance sheet remains strong and valuation has now dropped to about 5X sales. We remain comfortable, but we would temper expectations for gains in this market. (5iResearch)