Interim Report January – March 2011

Increased license sales, improved result and strong cash flow

• Sales for January-March increased with 4 percent to SEK 141.8 (135.9) million
• Operating profit EBITDA for the period was SEK -2.6 (-5.1) million
• Earnings per share after tax for the first quarter were SEK -0.04 (-0.18)
• Cash-flow from operating activities for the period was SEK 52.2 (20.8) million
  

CEO comment:

”The first quarter is typically the weakest period of the year, but we have started 2011 well with sales that is much stronger than it looks.

Calculated in local currencies, our total sales grew by 12 percent and our license sales by 14 percent. The Swedish krona has, compared with the corresponding period last year, strengthened by an average of eight percent, resulting in reduced revenue growth in Swedish kronor. The strong currency fluctuations depress our result below zero, but do not affect a very good cash flow in excess of SEK 50 million for the period.

The sales development has been notably positive in "U.S. and the rest of the world", growing by 29 percent compared to last year, and most of the markets in Scandinavia and Europe have also developed well. However, the general economic situation has affected sales in some parts of the world. Spain for example has experienced a weak start of the year.

With the current market conditions, the outlook for the year is promising and we are optimistic about our opportunities to further enhance both our growth and our profitability during the year.”

Jan Andersson
President and CEO

Read the entire report in the attached PDF.

Invitation to telephone conference / audiocast on May 4, 2011, for the presentation of ReadSoft's Interim Report for January – March 2011

On Wednesday, May 4, 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 for the first quarter of 2011 and answer questions. The presentation will be held in English.

Link to webcast:         click here

Day and time:             Wednesday, May 4, 2011 at 09.00 CET

Phone number:           +46 (0)8 5051 3786 or +44 (0)20 7138 0826 (please specify that you want to be connected to ReadSoft’s teleconference)

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 May 3, 2011 at 13:50 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.