Year End Report 2007
- The turnover for 2007 increased by 14 percent to SEK 525.0 (459.8) million
- Results after tax for 2007 was SEK 17.8 (38.8) million
- Result per share for 2007 was SEK 0.55 (1.22)
- The turnover for the fourth quarter increased by 14 percent to SEK 162.3 (142.0) million
- Results after tax for the fourth quarter was SEK 21.7 (25.0) million
- Results per share for the fourth quarter was SEK 0.67 (0.78)
- Cash-flow from the current business for 2007 was SEK 32.3 (44.8) million
KEY DEVELOPMENTS DURING 2007
During 2007 ReadSoft focused on investing in long-term growth and profitability. A new product platform was launched, new sales offices were established in Asia and the Benelux region, and approximately 100 new employees were hired. This investment strategy strains profitability. The US market displayed the greatest growth with a tremendous 74% growth in turnover, with sales in the SAP segment being especially successful. SAP solutions in the European market also succeeded greatly. During the last year, ReadSoft has strengthened its leading position in several important markets.
KEY DEVELOPMENTS DURING THE FOURTH QUARTER
The fourth quarter 2007 was ReadSofts biggest quarter ever. The sales increase has been especially good within the SAP segment in the US. This has been a trend during most of 2007.
ReadSoft announced a number of large deals during the last quarter of 2007. Among them wasWhirlpool, the group has chosen a solution from ReadSoft to automate and digitalize all supplier invoice handling. The initial agreement covers the processing of approximately 250,000 invoices annually throughout the company's European subsidiaries. The value of the agreement is over 200,000 EUR.
Spanish companyRed Eléctrica de Españahas chosen the ReadSoft DOCUMENTS for Invoices solution to optimize supplier invoice processing. The ReadSoft platform will automatically process the 30,000 invoices received annually and integrate with their SAP® system.
SEMA Groupis Australia's leading Direct Marketing services company. SEMA has recently implemented ReadSoft DOCUMENTS for Invoices to handle the outsourced processing of 20 million remittance advices per annum. The deal is worth over 150,000 Euro to ReadSoft, bringing SEMA's total investment with ReadSoft to over 1 million Euro.
ReadSoft is the world's leading supplier of software for Document Automation. The company develops and markets a complete software platform for Document Automation named ReadSoft DOCUMENTS. The vision is to free businesses everywhere from manual document handling. Since its founding in 1991, ReadSoft has developed into a global group with offices in 14 countries in Europe, North and South America and Australia, and a large number of local and global partners. ReadSoft is headquartered in Helsingborg, Sweden, and its primary R&D facility is in Stockholm. ReadSoft has been listed on the Stockholm stock exchange since 1999. ReadSoft AB. Södra Kyrkogatan 4, 252 23 Helsingborg. Sweden. Phone: +46-(0)42 - 490 21 00, Registration number: 556398-1066
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/