Interim Report January – June 2011
Continued improved result and strong license sales
- Sales for January-June increased with 3 percent to SEK 303.8 (295.6) million
- Operating profit EBITDA for the period was SEK 16.4 (8.9) million
- Earnings per share after tax for the period were SEK 0.47 (0.14)
- Sales for the second quarter amounted to SEK 162.0 (159.6) million
- Operating profit EBITDA for the second quarter was SEK 18.9 (14.0) million
- Earnings per share after tax for the period were SEK 0.51 (0.32)
- Cash-flow from operating activities for the first six months was SEK 57.9 (49.4) million
CEO comment:
”Despite a persistent currency headwind of 8 percent, we continue to deliver positive growth, good margins and strong results, both in the second quarter and for the first half year. It is the sixth consecutive quarter that we improve our margins based on rolling 12 months.
In local currencies our total sales grew by 10 percent for the second quarter and by 11 percent for the first six months compared to last year. Our license sales also showed double-digit growth compared to the corresponding period last year, adjusted for currency effects, with 17 percent growth in the second quarter and 16 percent growth for the first six months of the year. The results before and after tax have significantly improved both for the second quarter and for the first six months, which indicates that our focus on profitability is successful. In addition to this we deliver a double-digit EBITDA-margin for the rolling 12 months, which is the first time in ReadSoft history. Our EBITDA-result has thus clearly improved compared to last year and our cash flow from operating activities remains strong.
Most of our market regions show good sales growth, and among them, especially the U.S., Australia, Benelux and Brazil can be mentioned.
With the current market climate, we remain positive that we can increase our sales and our results the coming quarters compared to the corresponding period last year.”
Jan Andersson
President and CEO
Read the entire report in the attached PDF.
Invitation to telephone conference / audiocast for the presentation of ReadSoft's Interim Report January – June 2011
On Tuesday, July 19, 2011, at 9:00 CET, are analysts, investors, media and other interested parties invited to attend a telephone conference where ReadSoft’s President and CEO Jan Andersson will comment on the published Interim Report and answer questions. The presentation will be held in English.
Link to webcast: click here
Day and time: Tuesday, July 19, 2011 at 09.00 CET
Phone number: +46 (0)8 5051 3794 or +44 (0)20 7806 1966
Code: 6114676 or ReadSoft
You can also access the presentation via our website www.readsoft.se or www.readsoft.com.
This information is such that ReadSoft AB (publ) is to publish in accordance with the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on July 19, 2011 at 08:00 CET.
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
About ReadSoft
ReadSoft is a leading global provider of software solutions for Document Process Automation. ReadSoft’s software enables companies to automate document processes such as accounts payable processing, document capture, document sorting, and order to cash. ReadSoft is by far the world’s number one choice for automated invoice processing, especially into business systems from SAP and Oracle. Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 16 countries on five continents and a network of local and global partners. The head office is located in Helsingborg, Sweden, and the ReadSoft share is traded on the NASDAQ OMX Stockholm's Small Cap list. For more information about ReadSoft, please visit www.readsoft.com.
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