ATOSS Software AG — Earnings Release 2009

Apr 23, 2009

News Details

Corporate | 23 April 2009 08:20

ATOSS Software AG: ATOSS Software AG steps up the pace of growth

ATOSS Software AG / Quarter Results

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Corporate News

ATOSS Software AG steps up the pace of growth

Munich, April 23, 2009 - ATOSS Software AG, the specialist in workforce
management, has once again achieved record operating results and
underpinned its positive future outlook with orders on hand at a new high.
Sales in the first quarter of 2009 were up 11% at EUR 7.1 million, with
software licensing actually rising 21% to EUR 1.6 million. On this
foundation the operating result (EBIT) climbed 16% to EUR 1.5 million, with
earnings per share up 59% at EUR 0.27 per share. ATOSS has now maintained a
sustained pattern of growth since the fourth quarter of 2005. With orders
on hand for software licenses rising from EUR 1.5 million last year to a
new high of EUR 3.7 million, the Management Board remains optimistic for
the coming quarters.

Once again the software licensing business proved to be the driving force
behind the company's highly positive development. As of December 31, 2008,
ATOSS had already reported a record EUR 2.5 million in orders on hand and
the Management Board was confident that business in financial year 2009
would follow a positive course. Now, with sales of more than EUR 7.1
million in the first quarter, ATOSS has just achieved the highest figure
for a single quarter in the company's history. Software licensing revenues
were up 21% at approx. EUR 1.6 million, while maintenance sales were up 8%
at more than EUR 2.6 million and consulting was up 13% at EUR 2.0 million.

Further substantial increase in results, earnings per share up 59%

Despite the positive effect of a one-off EUR 0.3 million contribution to
income in the same period last year, the operating result (EBIT) in the
first quarter this year was up 16% at EUR 1.5 million. The margin on sales
accordingly increased to 21%. Other key figures improved even more
substantially: Earnings before taxes (EBT) were up 60% at EUR 1.6 million,
net income was up 58% at EUR 1.1 million, and earnings per share increased
by 59% to EUR 0.27.

Liquidity at EUR 4.22 per share, equity ratio at 58%

As a result of the powerful development in business, ATOSS recorded a
positive operating cash flow amounting to EUR 2.8 million in the first
quarter (previous year EUR 3.0 million) and increased its liquidity by 2%
to EUR 16.7 million. This equates to liquidity of EUR 4.22 per share,
compared with EUR 4.10 last year. This substantial volume of liquid funds
continues to be invested with an emphasis on the preservation of value, in
order to allow ATOSS to remain independent of external capital and
guarantee security in a difficult economic environment. The earnings power
and solidity of ATOSS are evident from the development in the equity ratio
which has risen from 53% last year to 58% as of March 31, 2009.

Positive outlook with record orders on hand

The positive effects of the typically high investments made by ATOSS in its
research and development continue to be felt. In financial year 2008 the
company invested EUR 5.1 million in developing its workforce management
solutions, equivalent to 19% of sales revenues, and this high level of
investment was continued in the first quarter of 2009.

The fact that ATOSS is winning as many orders from new customers as from
established clients confirms the soundness and viability of its strategy.
Despite the recession, overall demand has increased markedly in the first
quarter of the current financial year. Clearly, the ATOSS message is being
heard. Particularly in the current negative economic climate, workforce
management is becoming increasingly significant, given the rapidity with
which the investment is reflected in service quality, employee motivation
and productivity gains.

The continuing strong interest from customers in a variety of sectors is
clearly evident from a comparison of orders on hand for the first quarters
of 2006 through 2009. This important indicator of future development rose
from EUR 0.6 million in 2006, via EUR 1.3 million in 2007 and EUR 1.5
million last year to a current level of EUR 3.7 million. ATOSS now has a
superb basis on which to build further growth and plan ahead with security.

With all of the key figures for the development in business remaining
highly positive in both Q4 2008 and Q1 2009, the Management Board has
consolidated its future outlook. The Management Board accordingly expects
last year's record figures for sales and results to be repeated in the
current year. Provided that the current gratifying development in business
continues, the Management Board considers its possible that its forecast
may be revised upwards in the course of the current financial year.

Upcoming dates:

April 30, 2009 Annual General Meeting, Munich
May 4, 2009 Dividend distribution (proposed at EUR 0.44 per share)
May 15, 2009 Publication of the 3-monthly financial statements

CONSOLIDATED OVERVIEW: Quarterly comparison as of March 31

In TEUR as per 01.01.2009 Proportion of 01.01.2008 Proportion of Cha
IFRS - Total sales - Total sales nge
31.03.20 revenues 31.03.20 revenues
09 08
Sales 7,132 100 % 6,399 100 % 11 %
Software 4,188 59 % 3,717 58 % 13 %
of which 1,575 22 % 1,307 20 % 21 %
software
licensing
hie of which 2,613 37 % 2,410 38 % 8 %
software
maintenance
Consulting 1,992 28% 1,770 28 % 13 %
Hardware 564 8 % 725 11 % -22
%
Miscellaneous 388 5 % 186 3 % 109
%
EBITDA 1.610 23 % 1,395 22 % 15 %
EBIT 1,520 21 % 1,306 20 % 16%
EBT 1,607 23 % 1,006 16 % 60 %
Net income 1,080 15 % 685 11 % 58 %
Cash flow 2,782 39 % 3,035 47 % -8 %
Liquidity 16,680 16,375 2 %
(1/2)

EPS (in euro) 0.27 0.17 59 %
Employees (3) 220 198 11 %

CONSOLIDATED OVERVIEW: Quarterly comparison with the previous year

In TEUR as per IFRS Q1/09 Q4/08 Q3/08 Q2/08 Q1/08
Sales 7,132 6,876 6,748 6,921 6,399
Software 4,188 4,178 4,126 3,996 3,717
of which software licensing 1,575 1,642 1,603 1,513 1,307
of which software 2,613 2,536 2,523 2,484 2,410
maintenance
Consulting 1,992 1,839 1,860 1,894 1,770
Hardware 564 689 540 814 725
Miscellaneous 388 170 222 216 186
EBITDA 1,610 1,203 1,310 1,521 1,395
EBIT 1,520 1,097 1,214 1,429 1,306
EBIT margin in % 21 % 16 % 18 % 21 % 20 %
EBT 1,607 1,166 1,394 1,549 1,006
Net income 1,080 831 948 1,046 685
Cash flow 2,782 -1,055 3,034 -2,513 3,035
Liquidity (1/2) 16,680 14,000 15,425 12,472 16,375
EPS (in euro) 0.27 0.21 0.24 0.26 0.17
Employees (3) 220 226 213 207 198

(1): Cash and marketable securities (2): Dividend of EUR 0.31 per share
paid
on April 30, 2008 (previous year EUR 0.24 on April 27, 2007); (3): At end
of
quarter

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

23.04.2009 Financial News transmitted by DGAP

Language: English
Issuer: 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, Stuttgart, München, Hamburg, Düsseldorf

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