ots Ad hoc-Service: PRO DV Software AG <DE0006967805> PRO DV boosts up GEO business division through acquisition Rise in operating performance toy more than 22 %
Dortmund (ots Ad hoc-Service) -
Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement.
PRO DV Software AG (SCN 696 780), a market leader in the area of spatial resource management, continues to record substantial increases for the last three quarters. Total operating performance rose by 22.1 % to Euro 14.1 million (previous year; 11.7 million). Product development has been considerably extended during the Third Quarter. On the balance sheet, product development - compared with external customer orders - realises a lower contribution margin. PRO DV knowingly accepted this decrease in total operating of approx. Euro 1 million, in order to accelerate time-to-market of our new products - WinKKS and ForestNetService. Due to the higher rate of new orders amounting to more than Euro 17 million, our capacity is, and will remain to be, fully utilized.
Owing to our carefully considered investment in our own future, the EBIT before cost of issue slightly decreased to Euro -0.13 million (previous year: 0.77). The adjusted net earnings per share amount to Euro 0.06. One of the major reasons for this development are increased staffing costs, because we took on 35 employees more than originally intended. In Germany, qualified IT personnel is highly sought after, which is why we decided to invest now. All in all the staffing and recruiting costs were approx. Euro 0.4 million higher than expected. Furthermore, we had non-recurrent costs for M&A consulting and additional advertising efforts amounting to approx. Euro 0.33 million.
For the year 2000, PRO DV expects a steady before cost of issue-result with a total operating performance of approx. Euro 19 million. The higher capacity resulting from our additional staff and the introduction of new products (scheduled for new year) will positively influence our operating performance as soon as in the financial year 2001. The conclusion is that our objectives targeted for 2001 and 2002 will be fully achieved.
In order to further extend our already growing GEO business division, PRO DV purchased an 80 % share in the Berlin-based concept software GmbH. concept software GmbH counts more than 30 employees and is located in Berlin as well as Frankfurt, concept develops spatial transportation and logistics solutions for leading companies, as for example, Deutsche Bahn, Oesterreichische Bahn and Mannesmann Passo. The solutions developed by concept complement existing PRO DV products in the GEO business area. In addition, PRO DV obtains a new location in Berlin and reinforces its newly opened Frankfurt branch. For the financial year 2000, concept expects a sales volume of Euro 2.3 million, thereby achieving a positive EBIT of Euro 0.4 million. concept's results and net earnings are so far not included in PRO DV's current consolidated performance.
PRO DV will balance out the greater part of the acquisition costs by executing a lock-up agreement. The company will nominally increase its capital stock by Euro 100,000 to Euro 4,300,000. The acquired shares will be held under lock-up until November 1st, 2004. Both concept managing partners will continue in their positions and will keep their 10 % each in shares.
Contact:
Klaus Bullmann (Spokesman of Managing Board) Christian
Niederhagemann (Investor Relations Manager)
PRO DV Software AG Hauert 6 44227 Dortmund Phone: +49 231 9792 341
Fax: +49 231 9792 200 Email: ir@prodv,de Web: www.prodv.de
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