Year-end Report 2008

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  • Sales for 2008 increased by 11% to SEK 584.2 (525.0) million
  • Operating profit EBITDA for the year increased to SEK 45.6 (30.3) million
  • Earning per share after tax for the year were SEK 0.21 (0.55)
  • Sales for the fourth quarter increased by 12% to SEK 182.4 (162.3) million
  • Operating profit EBITDA for the fourth quarter increased to SEK 38.0 (25.6) million
  • Earning per share after tax for the fourth quarter were SEK 0.85 (0.67)
  • Cash-flow from operating activities for 2008 was SEK 86.6 (32.4) million

"Given the turbulent market conditions, the outcome for the year was favorable. Sales rose by 11% and operating profit, EBITDA rose by 50%. Particularly satisfying was the continued strength shown in the fourth quarter with growth of 12% and operating profit rising 48%.

The Group's profit after tax was affected negatively by non-recurring items of SEK 16.2 million attributable to the savings program implemented. Cash flow fromoperating activitiesfor the year rose by 170% percent to SEK 86.6 million.


The variation in trends between our different markets is extensive. Sales in the "US and the rest of the world" rose by 65% in the fourth quarter and by 45% over the year as a whole. In other markets, trends are mixed, with some, such as the UK being more affected by the financial crisis than others.


The economic situation remains highly uncertain, but ReadSoft provides products that offer substantial savings for our customers and we have prepared ourselves for a tough market. It is our objective to improve our profits, gain market share and to utilize the opportunities that a weaker market may entail."


Jan Andersson

President and CEO



Read the entire report in the pdf attached.



Contact

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. Specialized solution labs for SAP, Oracle, Microsoft and Capture processes ensure cutting edge solutions with great customer value. 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 Nordic Exchange Small Cap list. For more information about ReadSoft, please visit www.readsoft.com.


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