ATOSS Software AG — Earnings Release 2009

Oct 22, 2009

News Details

Corporate | 22 October 2009 08:29

ATOSS Software AG: Strongest nine-months result in the company’s history,

ATOSS Software AG / Quarter Results

22.10.2009

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Corporate News

ATOSS Software AG - Strongest nine-months result in the company's history,
forecast raised

Munich, October 22, 2009 - ATOSS Software AG, the specialist in workforce
management, continues to record the same sustained growth that it has
maintained for more than three years, despite the recession. With
provisional figures to September 30, 2009 showing sales of EUR 21.4 million
(plus 7%) and an operating profit (EBIT) of EUR 4.4 million (plus 11%),
ATOSS has once again achieved a new record.

The software company also reports strong cash flow equivalent to 34% of
sales. At EUR 19.2 million, liquidity is up by 24%. The Management Board
expects this positive development to continue in the current fourth quarter
and has raised its forecast accordingly. The operating result for financial
year 2009 (EBIT) is now expected to increase to around EUR 5.4 million
(previous year EUR 5.0 million).

Investment-oriented strategy pays off

ATOSS Software AG has been recording continuous growth since the end of
2005. The company's long-term business strategy aimed at firmly positioning
ATOSS as the technological leader in workforce management continues to set
the tone for future development. This strategy is founded on a consistently
high level of expenditure on R&D.

As a result, ATOSS is in a position to not only acquire prominent customers
in times of economic prosperity, but also to increase its order book in the
midst of a recession by 43% relative to the previous year, bringing orders
on hand to over EUR 3.2 million.

Highly positive development in software and consulting sales

In the software field ATOSS achieved growth of 5%, lifting sales to EUR
12.4 million, while turnover in consulting rose 11% to EUR 6.1 million.
Orders booked for software licenses amounted to EUR 5.3 million, compared
with EUR 4.7 million in the year before. In its non-core business, ATOSS
recorded hardware sales of EUR 1.6 million (previous year EUR 2.1 million)
and other sales revenues of EUR 1.2 million (previous year EUR 0.6
million).

As a result, the Munich-based software company continues to enjoy
considerable stability in its business model. Software accounted for a
total of 58% of consolidated sales (licenses 21%, maintenance 37%), with
consulting contributing 29%.

Disproportionate improvement in all key figures, cash flow and liquidity
significantly increased

ATOSS recorded an operating profit (EBIT) of EUR 4.4 million to September
30, 2009 (previous year EUR 3.9 million), with the margin on sales slightly
increased from 20% to 21%. Earnings before taxes amounted to EUR 4.6
million (previous year EUR 3.9 million) with a net result of EUR 3.1
million compared with EUR 2.7 million in the year before. Earnings per
share came in at EUR 0.78 compared with last year's EUR 0.67. Consequently,
all key figures have improved disproportionately relative to sales.

As a result of the continuing positive development in business, operating
cash flow increased significantly from EUR 3.6 million to EUR 7.2 million.
Liquidity as of September 30, 2009 stood at EUR 19.2 million (previous year
EUR 15.4 million), equivalent to EUR 4.85 per share (previous year EUR
3.86).

ATOSS intensifies focus on R&D

As of September 30, 2009 ATOSS had allocated some EUR 4.1 million to
research and development, representing 19% of sales. This equates to an
increase of 11% over the year before.

Andreas F.J. Obereder, the founder and CEO of ATOSS, explained that these
investments have consciously been increased still further in the current
year: 'We have in recent years made some enormous leaps forward in
developing our products and as a result we are now in a position to
demonstrate highly profitable growth and increase our market share. We are
now seizing the opportunities which the crisis offers by specifically
investing in expanding our competitive advantages with sustained effect.'

In the current financial year ATOSS has successfully acquired new customers
in a wide variety of sectors including retail, airlines, medical and
entertainment.

Particularly in the recession, there is an increasing need for companies to
become substantially more flexible in order to respond to sharp
fluctuations in incoming orders and customer frequency. This explains why
in areas such as workforce management, given adequately strong positioning,
it is still possible to achieve growth despite the general decline in
corporate budgets. The Management Board expects to see a continuation of
this trend in the coming quarters.

Targets set for a fourth record year

Both the highly positive development in business and the strength of orders
on hand for software licenses
confirm the Management Board in its expectation that last year's record
figures will generally be exceeded in 2009. To date, the goal has been to
at least match last year's operating profit of EUR 5 million. The
Management Board now anticipates that an operating profit of around EUR 5.4
million will be achieved. ATOSS Software AG is targeting its fourth record
result in succession.

Upcoming dates:

November 9, 2009 Analysts conference, Frankfurt am Main
November 13, 2009 Publication of the 9-monthly financial statements

Further information available from: http://www.atoss.com
Contact: ATOSS Software AG
Christof Leiber / Member of the Management Board
Am Moosfeld 3, D-81829 Munich
Tel.: +49 (0) 89 4 27 71 - 265
Fax: +49 (0) 89 4 27 71 - 100
investor.relations@atoss.com

CONSOLIDATED OVERVIEW : Nine-monthly comparison to September 30

In TEUR (as 01.01.20 Proportion of 01.01.2008 Proportion of Change
per IFRS) 09
- Total sales - Total sales 2009 /
30.09.20 revenues 30.09.20 revenues 2008
09 08
Sales 21,391 100 % 20,067 100 % 7 %
Software 12,440 58 % 11,840 59 % 5 %
of which 4,550 21 % 4,423 22 % 3 %
software
licensing
of which 7,890 37 % 7,417 37 % 6 %
software
maintenance
Consulting 6,136 29 % 5,524 28% 11 %
Hardware 1,575 7 % 2,080 10 % -24 %
Miscellan- 1,240 6 % 624 3 % 99 %
eous
EBITDA 4,664 22% 4,225 21 % 10 %
EBIT 4,388 21 % 3,948 20% 11 %
EBT 4,595 21 % 3,949 20 % 16 %
Net income 3,098 14 % 2,679 13 % 16 %
Cash flow 7,225 34 % 3,556 18% >100 %
Liquidity 19,182 15,425 24 %
(1/2)
S
EPS (in 0.78 0.67 16 %
euro)
Employees 232 213 9 %
(3)

CONSOLIDATED OVERVIEW : Quarterly development

In TEUR (as per IFRS) Q3/09 Q2/09 Q1/09 Q4/08 Q3/08
Sales 7,234 7,026 7,132 6,876 6,748
Software 4,090 4,162 4,188 4,178 4,126
of which software licensing 1,425 1,551 1,575 1,642 1,603
of which software 2,666 2,612 2,613 2,536 2,523
maintenance
Consulting 1,986 2,157 1,992 1,839 1,860
Hardware 666 345 564 689 540
Miscellaneous 491 361 388 170 222
EBITDA 1,557 1,498 1,610 1,203 1,310
EBIT 1,463 1,405 1,520 1,097 1,214
EBIT margin in % 20% 20% 21% 16% 18%
EBT 1,516 1,472 1,607 1,166 1,394
Net income 1,023 995 1,080 831 948
Cash flow 3,695 748 2,782 -1,055 3,034
Liquidity (1/2) 19,182 15,549 16,680 14,000 15,425
EPS (in euro) 0.26 0.26 0.27 0.21 0.24
Employees (3) 232 224 220 226 213

(1): Cash and marketable securities (2): Dividend of EUR 0.44 per share on
May 4, 2009, equating to EUR 1,739,000 (previous year EUR 0.31 on April 30,
2008); (3): At the end of the quarter

UBJ. GmbH Ingo Janssen
Haus der Wirtschaft
Kapstadtring 10 D 22297 Hamburg
Tel.: *49 (0)40 63785410

22.10.2009 Financial News transmitted by DGAP

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Language: English
Company: ATOSS Software AG
Am Moosfeld 3
81829 München
Deutschland
Phone: +49 (0)89 4 27 71-0
Fax: +49 (0)89 4 27 71-100
E-mail: revolution-in-time@atoss.com
Internet: www.atoss.com
ISIN: DE0005104400
WKN: 510440
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg

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