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Interim Report January – June 2010

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Considerably improved results and margins

  • Sales for the first six months amounted to SEK 295.6 (307.0) million
  • Operating profit EBITDA for the period was SEK 8.9 (4.4) million
  • Earnings per share after tax for the period were SEK 0.13 (-0.49)
  • Sales for the second quarter amounted to SEK 159.6 (160.5) million
  • Operating profit EBITDA for the second quarter was SEK 14.0 (1.5) million
  • Earnings per share after tax for the second quarter were SEK 0.31 (-0.22)
  • Cash-flow from operating activities for the first six months was SEK 49.4 (55.7) million

”During the first quarter, we concluded that the market was starting to recover from the financial crisis. After closing the second quarter, we can see that this conclusion turned out to be correct since our margins and profit before and after tax improved considerably compared to last year.

Currency fluctuations have had a negative effect on our turnover by approximately five percent. Consequently, we have had a negative turnover in Swedish kronor, but in local currencies, we have had a growth of approximately four percent during the second quarter. It is rewarding to see that the revenue from license sales and maintenance has increased during the second quarter and that we are making money on the operating activities which enables a continued positive cash flow.

When it comes to our different markets we see that the region “US and the rest of the world” has had a strong quarter with an improved turnover of 29 percent compared to last year. Especially our Australian subsidiary has shown considerable growth, but also our Asian operations have had a good quarter.

We will continue to focus on increased sales and profitability. We have taken clear steps towards reaching our goals and we continue to be optimistic in front of the quarters to come.”

Jan Andersson
President and CEO


Read the entire report in the attached PDF.
 

For additional information please contact:

Jan Andersson, President and CEO
Phone: +46 42-490 21 34 or +46 708-37 66 00
Johan Holmqvist, Vice President Corporate Communications
Phone: +46 42-490 21 98 or +46 708-37 66 77
Jan Bertilsson, CFO
Phone: +46 42-490 21 43 or +46 708-37 66 16
e-mail: firstname.lastname@readsoft.com

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