Interim report January - June 2007
- Results after tax for the first six months was SEK 0.7 (12.2) million
- Results per share for the first six months were SEK 0.02 (0.39)
- The turnover for the second quarter increased by 11 percent to SEK 127.6 (115.3) million
- Results after tax for the second quarter was SEK 3.3 (11.5) million
- Results per share for the second quarter was SEK 0.10 (0.37)
- Cash-flow from the current business for the first six months was SEK 16.1 (16.0) million
KEY DEVELOPMENTS DURING THE SECOND QUARTER OF 2007
Even though the financial outcome of the quarter was slightly weaker than planned the development in other areas during the first six months looks promising for the future. On the important US market sales started to pick up especially within the SAP segment. The reselling and installation of our new generation of DOCUMENTS has also begun with positive customer responses.
By the end of May ReadSoft established a subsidiary in Asia with headquarters in Kuala Lumpur, Malaysia. With a growing number of partners as well as large, international customers in the area, ReadSoft want to take a more active role by the establishment of a subsidiary. ReadSoft now has 14 subsidiaries on four continents.
During the yearly AIIM show in USA ReadSoft was awarded the ECM Connection ACE Award 2007 in the Compliance category. ReadSoft is recognized for the ReadSoft DOCUMENTS for Invoices solution for Accounts Payable documents towards ERP systems as Oracle E-Business Suite and MySAP(tm). It was the first time ReadSoft received this award.
A number of important agreements have been signed during the quarter.Schenker-Joyau, a subsidiary of the German Schenker Group and one of the leading players in the logistics area in France, decided to automate their invoice processing in order to improve the administration processes within their SAP environment. Schenker-Joyau has chosen ReadSoft DOCUMENTS for Invoices to process the 240,000 invoices they receive every year.
The Hospitals Contribution Fund (HCF)- an Australian private health insurance company - has previously automated the handling of membership applications with ReadSoft software. They will now expand their use of Document Automation solutions by automating the processing of medical claims and invoices. The new agreement is worth just above SEK 1.4 million for ReadSoft.
SFR, a French supplier of telephone services, have chosen ReadSoft DOCUMENTS for Invoices to automate the handling of the 200,000 invoices they receive every year. The solution will be integrated with a business system from SAP and create a highly automated "Purchase to Pay" flow.
For more information contact President/CEO Jan Andersson +46-42-490 21 00, mobile +46-708-37 66 00 or VP Corporate Communication, Jonna Opitz at +46 42 490 21 08 or CEO Jan Bertilsson at +46 42 490 21 43. Please visit http://www.readsoft.com/