- Beta Systems Software AG, (Neuer Markt: BSS), a
leading provider of high performance intelligent data management
solutions, today announced results for the third quarter ended
September 30, 2001.
Financial Highlights Third Quarter 2001
* Total revenues increased by 18.5% to EURO 10.4 million (third
quarter 2000: EURO 8.7 million)
* Operating loss reduced by 50% to EURO 772,000 (third quarter
2000: EURO 1.5 million)
* One-time items of EURO 1.3 million impacted quarterly
performance: impairment charge for a possible loss resulting
from a financial asset, restructuring costs and costs resulting
from currency exchange rates
* Pre tax loss including one-time items of EURO 1.4 million
* Net loss of EURO 1.6 million (0.40 per share)
* Cash position of EURO 13.7 million
Financial Highlights Nine Months 2001
* Total revenues increased by 12.6% to EURO 29.4 million (nine
months 2000: EURO 26.1 million)
* One-time items of EURO 5.9 million impact performance
* Pre tax loss including one-time items of EURO 7.4 million (nine
months 2000: EURO 3,8 million)
* "Eight Step" turnaround program in place
* Beta Systems benefits from data center consolidation: major
contract with Wüstenrot & Württembergische AG signifying
competitive advantages of Beta Systems' solutions for data
* Vididoc presentation at DMS Expo 2001 trade show: focus on
* Vididoc marketing and sales campaign reaching milestone: VR
Kreditwerk AG integrates entire Vididoc Suite
* European Storage Management marketing and sales efforts: Tantia
presents storage solutions as HP Partner at Systems trade fair
Karl-Joachim Veigel, CEO of Beta Systems commented, "These results
reflect the steady progress and ongoing improvements in our Company.
As one of only a few vendors in the European IT sector we continue to
demonstrate top-line growth. Beta Systems' licensed sales increased
by 30% in connection with recurring maintenance revenues, which grew
by 15%. These results were in line with our expectations and
underline that we are executing the turnaround program on schedule.
In addition, we have reduced operating losses by almost 50% to EURO
772,000 in the third quarter 2001. As previously announced, we are in
the very early stages the turnaround program and had to make a number
of one-time charges. Most of the expenses were the result of the
Company's restructuring and adjustments to our books to reflect the
current market realities and risks."
Mr. Veigel added, "We performed well in the third quarter, despite
a tough business climate and ongoing softness in IT demand. Taking
the increased uncertainties in the economy into consideration, due to
recent events, visibility for the fourth quarter of 2001 has not
improved. Lengthening sales cycles and a few order delays in the
third quarter have already impacted Beta Systems' performance. As of
now, we are unable to quantify the slow-down effect on our overall
performance for the fiscal year 2001. We have intensified our
turnaround efforts but believe it will be harder to achieve the
strong results of the fourth quarter 2000, which were the best in
Beta Systems' history.
"That said, our core business of Data Center Management is proving
to be the backbone of Beta Systems' expansion into new business
areas, showing a strong growth rate of over 25% in the third quarter
and solid bottom line profits. We are confident we will continue to
be the vendor of choice in the data center consolidation process.
Cost reduction is the main selection criteria for our customers and
the top selling point every time a Beta product is selected over its
competition. In the business unit Document Management we have reached
an important milestone this quarter, for the first time, one single
organization has licensed to our entire Vididoc Suite of products.
Furthermore, Storage Management is more important than ever and we
expect to grow that business once IT demand in North America returns
to normal levels."
Mr. Veigel concluded: "We feel confident that Beta Systems has
taken and will take the right measures to cope with the current and
future market and business demands."
Review and explanations of the third quarter 2001 results will be
given by the management board in a conference call on November 12,
2001 at 10.00 CET:
Dial-in number: +49 (0)6074 8643
(access code: "Beta Systems")
In addition, there will be an instant replay service available for
24 hours following the call. The instant replay telephone number is
+49 (0)6074 864555.
The full quarterly report is published under www.betasystems.com
End of Message
Beta Systems Software AG, Berlin, Germany
Beta Systems Software AG, (Neuer Markt: BSS), is a leading
provider of high performance intelligent data management solutions.
The Company supplies software that allows companies to streamline and
manage their Data Center, Storage and Document Management processes.
Beta Systems specializes in the automation and optimization of its
customer's voluminous data processes, focusing on the handling,
storage and distribution of data and documents in the most cost
effective and intelligent way. Beta Systems' clients are typically
large organizations in the industry, finance, telecommunications,
energy, service and public sectors whose traditional methods of data
management involved cumbersome time, money and other resources
consuming procedures. Many of the solutions developed by Beta Systems
are open architecture in nature and create an information
infrastructure that reduces the past complexities of information
management. Beta Systems' products are distributed worldwide by its
own and partner organizations. The Company has been publicly traded
since 1997 and has 312 employees worldwide (as of June 2001).
For more information, please visit the corporate homepage at
ots Original Text: Beta Systems Software AG
Beta Systems Software AG
Tel.: +49 (0)30 726 118 -170
Fax: +49 (0)30 726 118 -881
Stefanie Katrin Fehse
Beta Systems Software AG
Tel.: +49 (0)30 726 118 -674
Fax: +49 (0)30 726 118 -850
Except for the historical information herein, the matters
discussed in the news release include forward-looking statements
within the meaning of the 'safe harbor' provisions of the US Private
Securities Litigation Reform Act of 1995, that may involve a number
of risks and uncertainties. Actual results may vary significantly
based on a number of factors, including, but not limited to, risks in
product and technology development, market acceptance of new products
and continuing product demand, the impact of competitive products and
pricing, changing economic conditions both here and abroad, timely
development and release of new products by strategic suppliers and
other risk factors detailed in the Company's most recent annual
report and other filings with the Securities and Exchange Commission,
as well as the effect of the Company's accounting policies.
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herein belong to their respective companies.
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