USU Software AG: Annual Result 2004 and Outlook
Möglingen, Germany (ots)
- Positive consolidated result - Sales higher than expectations - Cost basis reduced considerably
In the 2004 financial year, USU Software AG (ISIN DE000A0BVU28) generated a positive consolidated result of TEUR 262 (PY: TEUR 6,870).* At TEUR 18,686, sales were down on the previous year's figure of TEUR 19,059. However, they were slightly higher than expectations. The low year-on-year decline resulted primarily from the weaker order situation at the end of the 2003 financial year in conjunction with falling market prices for IT products and services. In contrast, numerous project orders were gained in 2004, resulting in higher sales in the second half of the reporting year.
In comparison to the previous year, group sales and marketing declined by a third to TEUR 2,881 (PY: TEUR 4,221). However, general and administrative costs also declined to TEUR 2,006 in 2004 (PY: TEUR 2,763). Furthermore, expenditure in the Research and Development area declined to TEUR 2,574 (PY: TEUR 3,199). As of 31 December 2004, the workforce declined to 189 (PY: 212).
In combination with a stabilisation of operating business, the lower cost basis resulted in EBIT in the USU Group improving to TEUR -1,295 (PY: TEUR -8,884). EBITDA was TEUR -633 (PY: TEUR -3,465).
With an average number of shares of 8,551,643 (PY: 8,497,778), the positive EBT figure of TEUR 262 (PY: TEUR -6,870) equates to earnings per share in the 2004 financial year of EUR 0.03 (PY: EUR -0.81).
The Management Board anticipates that after generating net income in 2004, the USU Group will continue the positive development in the 2005 financial year. With ongoing high utilisation levels in the consultancy business, the foundation for this should be the licences area with the market penetration of USU KnowledgeMiner 4 in combination with the scheduled market launch of Version 3 of Valuemation in the spring of 2005. There are additional growth possibilities with OMEGA Software GmbH, the company acquired in February 2005.
*Notes on accounting:
In anticipation of the mandatory conversion of accounts to IFRS as of 31 December 2005, the USU Group (USU Software AG and its subsidiaries) converted its accounts to IFRS as of 31 December 2004. All figures in the press release relate to the consolidated financial statements according to IFRS.
This press release is available at http://www.usu-software.de.
USU Software AG
As a software and solution provider, we have been offering our customers value added-oriented IT products and tailored application solutions for over 25 years. In the IT Management Solutions area, USU products and services bring the entire business, strategic and technical knowledge in IT together on one platform. As a result, companies can precisely determine, present and manage the business value of their IT. In the Business Solutions area, USU successfully moulds IT knowledge and specialist expertise into customised systems as a solution provider. Together with our own process models and expertise attained in major projects, established knowledge management products supplement our broad offering. Long-standing customer relations connect USU with market leaders in all areas of the economy. Further information can be found at www.usu-software.de
Contact:
USU Software AG
Corporate Communications
Dr. Thomas Gerick
Tel.: 0 71 41 / 48 67 440
Fax: 0 71 41 / 48 67 909
E-mail: t.gerick@usu-software.de
USU Software AG
Investor Relations
Falk Sorge
Tel.: 0 71 41 / 48 67 351
Fax: 0 71 41 / 48 67 108
E-mail: f.sorge@usu-software.de
Original-Content von: USU Software AG, übermittelt durch news aktuell