IFS sales rose sharply

IFS sales rose sharply IFS increased revenue by about 80% in the first quarter. License revenue rose by slightly more than 35%. "We are pre-empting our interim report, due to be released on May 3, with this information since, in our opinion, analysts and market observers are excessively pessimistic with regard to the Year 2000 issue," says Bengt Nilsson, President of IFS. " There are those who believe that business systems suppliers and their products are in some sort of static state. This is, of course, not the case. All products experience life cycles. IFS has focused on a component-based business system, which is at the beginning of its life cycle. We are launching the third generation during the year. This will help us maintain our technological lead over our competitors, most of whom are still selling monolithic systems which are at the end of their life cycle," says Bengt Nilsson. Analysts estimate that the market for business systems grew by about 15-25% during the first quarter of 1999, which is a lower growth rate than the corresponding period in earlier years. "Although we notice a certain degree of cautiousness, it certainly is not as extensive as many recent comments suggest," Bengt Nilsson continues. In the long-term, analysts are projecting continued strong growth from the year 2000. AMR Research Inc. foresees average growth of 37% annually up to and including 2002. Sales during the first quarter of 1998 amounted to SEK 225 million, which is approximately US$ 28 million. (US$ 1 = SEK 8) About IFS and IFS Applications Industrial & Financial Systems, IFS AB, develops and supplies IFS Applications, which is a complete Enterprise Resource Planning (ERP) system for business processes in medium-to-large-sized companies. It covers manufacturing, distribution, financials, maintenance management, resource management, and engineering. The IFS business concept is to increase the freedom of action and competitiveness of companies by offering standardized business systems based on leading technologies. IFS Applications is one of the first business systems in the market developed entirely using a component-based architecture, which means that it can be readily adapted to the needs of individual customers. The system is equipped to handle the Y2K compliance issues and the introduction of the Euro. IFS is the world's fastest-growing company in the ERP and maintenance software market. The company has 2,000 employees, and its products are sold in 32 countries around the world. Some of the more than 1,600 major customers include Volvo, NEC, Akzo Nobel, Caterpillar, Saab, Nikon, Kimball, Allied Signal, Ericsson, International Paper, Sundstrand Corporation and Rover Group. For additional information, contact: Bengt Nilsson, president IFS Rolf Erichs, Corp. Comm. Manager IFS Tel: +46 13 20 15 00 Tel: +46 708 30 93 17 Fax: +46 13 20 15 01 Fax: +46 13 12 43 73 E-mail:bengt.nilsson@ifsab.se E-mail: rolf@erichs- com.se IFS´ web: http://www.ifsab.com IFS Applications is a trademark of IFS Industrial and Financial Systems. All other referenced company or product names are trademarks or registered trademarks of their respective owners. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/15/19990415BIT00110/bit0001.doc http://www.bit.se/bitonline/1999/04/15/19990415BIT00110/bit0002.pdf