Interim Report January-June 2009
- Sales for the first six months increased by 12% to SEK 307.0 (273.9) million
- Operating profit EBITDA for period increased to SEK 4.4 (3.7) million
- Earnings per share after tax for the period were SEK -0.49 (-0.28)
- Sales for the second quarter increased by 11% to SEK 160.5 (144.8) million
- Operating profit EBITDA for the second quarter was SEK 1.5 (7.0) million
- Earnings per share after tax for the second quarter were SEK -0.22 (-0.01)
- Cash-flow from operating activities for the first six months was SEK 55.7 (42.4) million
"Sales rose by 11 percent in the second quarter while profit decreased due to a changed revenue mix. Both sales and earnings were affected by exchange rate fluctuations and our sales are largely unchanged compared with the preceding year measured in local currencies. Cash flow from operations remains strong and rose by 31 percent for the six-month period compared with the corresponding period in 2008.
It is positive that we are maintaining volumes while earning money in our current operations, allowing us to generate positive cash flow. At the same time, there is no doubt that the weak economy is affecting us and decreasing the efficiency of our sales. We can see quite extensive differences between our markets, from France, where the trend was excellent during the second quarter, to the UK where we have experienced difficulties in the wake of the financial and banking crisis.
We will continue to focus on cost-efficiency and profit, leveraging our leading position to capture new market shares and sharpening our offering with new solutions in the second half of the year."
Jan Andersson
President and CEO
Read the entire report in the attached pdf
Jan Andersson, President and CEO
Phone: +46 708-37 66 00
Jonna Opitz, Vice President Corporate Communications
Phone: +46 42-490 21 08 or +46 733-37 86 68
Jan Bertilsson, CFO
Phone: +46 42-490 21 43
e-mail:firstname.lastname@readsoft.com
About ReadSoft
ReadSoft is a leading global provider of software solutions for Document Automation. ReadSoft's software enables companies to automate document processes such as data entry, classification, ERP matching, workflows, e-invoicing etc. The results are faster and less expensive document processing, and increased control. ReadSoft is by far the world's number one choice for invoice automation solutions. 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 Nordic Exchange Small Cap list. For more information about ReadSoft, please visit www.readsoft.com .