KeyTech Limited’s profits are down this year according to the company’s interim earnings results just released today.The company’s operating profit for the first six months of this year was $6,816,069 compared to $9,133,389 in the first six months of 2011.However, KeyTech’s results for the first half of 2011 factored in several one-offs, including a gain of $10,516,501 from the M3/CellOne merger, a writedown of $4,098,930 associated with getting out of the hardware business, and an intangible asset impairment of $2,953,641. Excluding these one-offs, operating profit for the first six months of 2011 was $5,669,459 — considerably lower than the same period of this year.The company reports however, that operating revenues for the period were $39,750,121 compared to $43,973,778 last year — a decrease of more than $4.2 million. Of this decrease, KeyTech says $1,422,080 is related to the reduced use of wireless voice services and $629,197 is from reduced directory sales. Other revenues, the company said, decreased $896,547 due to declines in collocation and building rents. Hardware and software revenues were also down by $631,533, which is directly related to the company getting out of that line of business.“Since the advent of cellular and with the increase of data driven social media communications for customers,” KeyTech said in its report. “Service providers will continue to see declines in voice revenues. A trend that is sure to prevail over traditional ‘dial’ tone services.”Total expenses for the period were $36,632,122 compared to $44,369,136 for the same period last year, a decrease of $7,737,014, which the company says is a reflection of continued efforts to reduce expenses in the difficult economic environment that is affecting revenues. Of that decline, $2,253,859 was related to reduced salaries and $1,414,324 is the result of reduced operations and maintenance expenses. There were no staff termination costs included in the expenses for the first half of this year, compared to $519,385 for the same period last year.“Over the past six months, we have focused on enhancing our position by improving our networks while staying engaged with customers,” KeyTech said in a statement. “The group remains poised with respect to the economic climate; therefore we continue our efforts to improve on efficiencies within our operations.”Basic and fully diluted earnings per share for the six month period ending on September 12, 2012 were $0.35 compared to $0.63 for the same period last year.The company declared a dividend of $0.12 per share for the quarters ending June 30, 2012 and September 20, 2012.