Impact of the recent economic crisis on the ICT industry: Research of Croatian companies

This paper presents a financial statement analysis, which is based on financial data collected from the data base of the Croatian Financial Agency (cro. FINA). The authors analyzed 28 selected medium size and large ICT companies in Croatia during the period from 2006 to 2009, which includes the period of economic crisis (from 2007). The authors show a summary of the past trends and demonstrate the impact of economic crisis on the overall business result. In general, ICT industry has not taken on a large burden of the crisis and it can be expected that most companies will recover well and continue working successfully.