PRESSEPORTAL Presseportal Logo
All Stories
Follow
Subscribe to Beta Systems DCI Software AG

07.05.2003 – 09:40

Beta Systems DCI Software AG

euro adhoc: Beta Systems Software AG
Quarterly or Semiannual Financial Statements
Beta Systems Software AG Announces Results For The First Quarter 2003 (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
- Start of "Go Ahead Beta" program
- Management reaffirms outlook for 2003 despite ongoing weak 
  economic environment
Berlin, May 7, 2003 - Beta Systems Software AG, Berlin, today
announced results for the first quarter ending March 31, 2003.
Financial Highlights First Quarter 2003
- Sales revenues decreased by 15.8% to Euro 9.3 million (Q1 2002: 
  Euro 11.1 million)
- Operating loss of Euro 1.5 million (Q1 2002: operating profit Euro 
  0.3 million)
- Pre-tax loss of Euro 1.2 million (Q1 2002: pre-tax profit Euro 0.7 
  million)
- Net loss of Euro 0.5 million (Euro 0.14 per share)
- Non-recurring result effect of Euro 0.3 million through 
  integration costs of Systor Security Solutions GmbH
- Positive cash flow of Euro 8.1 million in first quarter of 2003
- Increased cash position of Euro 23.7 million
End of ad hoc announcement
Issuer's information/explanatory remarks concerning this ad hoc
announcement:
Comments of the Management Board
Karl-Joachim Veigel, CEO of Beta Systems Software AG, commented:
"Beta Systems operates in a strongly cyclical industry, and this is
reflected in our results for the first quarter. In what was a
typically weak quarter in terms of sales and profits, we were able to
generate modest license sales, in contrast to the strong results at
the end of 2002 and compared with an extraordinarily positive Q1
2002. Sales in the first quarter of 2003 fell slightly short of our
forecast, and are a clear indication of our customers' expected
reluctance to invest at the beginning of the new fiscal year."
Mr Veigel added: "With the acquisition of the operating business of
Systor Security Solutions GmbH, we started our 'Go Ahead Beta'
program in the first quarter of 2003. The integration of our new
employees, products and partners is going according to plan. In
particular, the very positive customer response and support for the
recently acquired Security Administration Manager product line have
been very pleasing. We sold a license and maintenance agreement to a
large Swiss financial group in the first quarter which will also lead
to significant revenues resulting from associated services during
2003. The current costs of the new security product line were largely
covered by the almost seamless business acquisition shortly after the
inclusion of SAM in our sales portfolio, so that only the scheduled
non-recurring integration costs of Euro 0.3 million had an impact on
our quarterly result."
Mr Veigel concluded: "Despite the Euro 2.2 million cash outflow
resulting from the acquisition, we have been able to further expand
our liquidity position with a positive cash flow of Euro 8.1 million,
and are extremely well equipped to implement our growth program. We
expect the acquisition to bring a further significant growth in sales
to over Euro 50 million for the fiscal year 2003, and a further
improvement of the pre-tax result at the fiscal year level."
Conference Call
The results for the first quarter of 2003 will be commented by
Management on Wednesday, May 7, 2003 within the scope of a telephone
conference. The conference will take place at 14.00 CET on telephone
number +49 (0)69 / 58 999 0509 (access code: "betasystems"). A tape
recording of the telephone conference will be available for
twenty-four hours after on telephone number 069 / 58 999 0532 (access
code: 783832). Mr Arne Baßler is available on telephone number 030
726 118 -170 to answer any questions you may have ahead of the
telephone conference.
end of announcement        euro adhoc 07.05.2003

Further inquiry note:

Arne Baßler Beta Systems Software AG Tel.: +49 (0)30 726 118 0 Fax: +49 (0)30 726 118 800 E-Mail:
ir@betasystems.com

Branche: Software
ISIN: DE0005224406
WKN: 522440
Index: Nemax All Share, Nemax Software, Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade

Original content of: Beta Systems DCI Software AG, transmitted by news aktuell

More stories: Beta Systems DCI Software AG
More stories: Beta Systems DCI Software AG