ATOSS Software AG — Earnings Release 2003

Apr 24, 2003

News Details

Corporate | 24 April 2003 08:19

ATOSS Software AG english

ATOSS Software AG – Results Q1 2003 Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– ATOSS Software AG – Results Q1 2003 Targets once again met in the first quarter of 2003. Sales and operating results are exceeding last year’s figures. General meeting of shareholders convening on April 30, 2003 to endorse a high outpayment Munich, April 24, 2003 – According to preliminary figures ATOSS Software AG has achieved a 6 % sales increase the first quarter of 2003, while also further enhancing operating results over the previous year. In spite of the extremely negative environment, the Munich based software specialist for solutions revolving around intelligent personnel deployment has succeeded in performing according to company forecasts. The General Meeting of Shareholders convening on April 30, 2003, will be deciding on an outpayment of EUR 1.50 per share, among other issues. Marked growth recorded in the IT Services, Consulting and Hardware areas. Posting a total sales increase of 6 % to EUR 5.79 million the individual Divisions have shown very gratifying developments with the exception of software licenses. However, with regard to software licenses it must be considered that the same period last year contained a large, single order placed by SWISS International Airlines AG, while there were no such major orders impacting sales in the first quarter of 2003. In the software area sales dipped slightly by 3 % to just under EUR 3.1 million. Software licenses accounted for EUR 1.3 million (a decline by 11 %), whereas software maintenance revenues rose by 4 % to just under EUR 1.8 million. Consulting activities have continued to show decidedly positive developments. All in all, this area achieved a 28 % sales increase, whereby IT services shot up by 28 % to over EUR 1.2 million and consulting grew by 26 % to EUR 0.5 million. The hardware sector posted an unexpectedly strong increase by 21 % to more than EUR 0.7 million. Operating result exceeding previous year’s figures. Cash position stands at EUR 35.4 million. Further positive development of operating cash flow. Since the fourth quarter of 2001, ATOSS has consistently posted positive results thanks to a stronger sales basis, especially in the IT services and consulting areas, as well as the stabilization of sales in the software area and ongoing rigorous cost controlling. At TEUR 293, EBIT has improved considerably over the same period last year (TEUR 126); moreover, EBT was up from TEUR 262 to TEUR 338. Due to deferred taxes formed according to US-GAAP without impacting cash, earnings per share remained essentially on the same level as last year at EUR 0.04. The cash in bank and securities position improved from EUR 33.7 million as of December 31, 2002 to EUR 35.4 million as of March 31, 2003. The equity ratio stands at 85 % compared to 87% at the end of 2002. Cash flow from ongoing business activities rose to EUR 1.6 million (previous year: EUR 1.1 million). Outlook for the ongoing business year remains positive Without any indications of strengthening markets or at least a mild upswing in investment activities it is not possible to venture any forecasts for the branch environment. In spite of this, the board continues to hold a positive outlook for the year. The company also remains committed to the target of this year’s performance by quarters exceeding the figures recorded in last year’s respective quarters. All in all, further sales growth and a decided improvement in performance are anticipated for the ongoing 2003 business year. The positive outlook is underlined by the consistently gratifying intake of orders, especially in the software area. Next events: 30.04.2003 General Meeting of Shareholders in Munich 15.05.2003 Publication of three months’ statement Further information is available at: http://www.atoss.com Contact: ATOSS Software AG Am Moosfeld 3, D-81829 Munich Christof Leiber – Tel.: +49 (0) 89 4 27 71 – 265 – Fax: +49 (0) 89 4 27 71 – 100 end of message, (c)DGAP 24.04.2003 ——————————————————————————– WKN: 510440; ISIN: DE0005104400; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart 240819 Apr 03