USU Software AG

EANS-Adhoc: USU Software AG announces figures for Q1 2010: Modest start to the new fiscal year - planning for 2010 as a whole confirmed

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quarterly report

21.05.2010

USU Software AG saw a modest start to the new fiscal year in the first three months of 2010. As a result of project postponements and potential customers´ limited propensity to invest, sales at USU Software AG in the Group as a whole declined to EUR 7,537 thousand (Q1 2009: EUR 8,325 thousand). While maintenance business increased to EUR 1,859 thousand (Q1 2009: EUR 1,721 thousand), sales from licenses, consulting and other income fell to EUR 5,678 thousand (Q1 2009: EUR 6,604 thousand). In the Product Business segment, the USU Group saw a stable development overall in the first quarter of 2010 with Group sales of EUR 5,042 thousand (Q1 2009: EUR 5,197 thousand). By contrast, consulting revenue in the Service Business segment was still considerably lower than the previous year´s level at EUR 2,485 thousand (Q1 2009: EUR 3,117 thousand). During the first quarter of 2010, USU gained several customer orders, which are already reflected in the positive development of the orders on hand - which rose year-on-year to EUR 15,056 thousand (Q1 2009: EUR 14,362 thousand) - and will contribute to a visible improvement in the coming quarters. In terms of costs, the USU Group reduced its operating cost base to EUR 7,515 thousand in the first quarter of 2010 (Q1 2009: EUR 8,144 thousand) through strict cost management and a streamlined administrative structure. Accordingly, earnings before interest, taxes, depreciation and amortization (EBITDA) in the first quarter of 2010 were positive at EUR 146 thousand (Q1 2009: EUR 279 thousand). Depreciation and amortization totaled EUR 274 thousand in the period under review (Q1 2009: EUR 271 thousand), resulting in earnings before interest and taxes (EBIT) of EUR -128 thousand (Q1 2009: EUR 8 thousand). The Group´s net loss for the period amounted to EUR -120 thousand (Q1 2009: net profit of EUR 109 thousand), equivalent to earnings per share of EUR -0.01 (Q1 2009: EUR 0.01). There was a slight decline in equity to EUR 45,782 thousand as against EUR 45,881 thousand at the balance sheet date of December 31, 2009 due to the net loss for the period generated by the USU Group. Based on total assets of EUR 54,969 thousand (December 31, 2009: EUR 53,530 thousand), the equity ratio amounted to 83.3% as of March 31, 2010 (December 31, 2009: 85.7%). At the same time, USU increased Group liquidity in the form of cash and cash equivalents including securities to a total of EUR 12,031 thousand (December 31, 2009: EUR 10,888 thousand). After the modest start to fiscal 2010, the Management Board is forecasting considerable growth in sales and earnings in the remaining quarters of the year. In addition to maintenance business, which is developing positively, license revenue in particular is expected to increase substantially with the market launch of new software product versions. Overall, assuming a sustained economic recovery, the Management Board is confirms its forecast of generating sales growth in excess of the average for the IT market in the current year and again achieving a stronger increase in operating earnings before interest, taxes, depreciation and amortization (EBITDA) compared to sales.

end of ad-hoc-announcement ========================================== ====================================== Details on recent business developments in the first quarter of 2010 and on USU Software AG can be found in the three-month report for 2010. In addition, the Management Board will present the figures for the first quarter of 2010 and for 2009 at the company’s forthcoming Annual General Meeting on July 15, 2010 at Forum am Schlosspark, Stuttgarter Strasse 33-35, Ludwigsburg. As already announced, the Management Board and Supervisory Board of USU Software AG will propose to the Annual General Meeting that the company’s shareholders participate in the successful business development of USU Software AG and its Group subsidiaries in 2009, as in previous years, with a dividend distribution of EUR 0.15 per share.

This announcement is available at http://www.usu-software.com

USU - The Knowledge Business Company The USU Software AG offers with its company network appliances, products and consulting all about Knowledge Business, aligned for the future. For example Valuemation. Our clients obtain a broad and complete overview over their IT processes, IT infrastructure and are able to display their IT costs transparently, to account and control actively. More than 500 clients administrate with this product group more than 30 million IT assets. For example KnowledgeMiner. As an integrated research and navigation system or portal solution, we activate the complete knowledge of a single organisation with this technology. Call and service centres solve more than ten thousand individual problems and requests day for day, using the technology. Departments like quality assurance, production or distribution fasten their core processes and improve their quality. The ability to form branch knowhow, competence of technology and user demands to an integrated software system, has been convincing clients for more than two decades in all fields of the international economy. The USU Software AG (ISIN DE000A0BVU28) is listed in the Prime Standard of the Frankfurt stock exchange.

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ots Originaltext: USU Software AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
USU Software AG
Investor Relations
Falk Sorge
Tel.: +49 (0) 71 41 - 48 67 351
Fax:  +49 (0) 71 41 - 48 67 108
E-Mail: f.sorge@usu-software.de

Branche: Software
ISIN:      DE000A0BVU28
WKN:        A0BVU2
Index:    CDAX, Prime All Share, Technology All Share
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Hamburg / free trade
              Düsseldorf / free trade
              Hannover / free trade
              München / free trade
              Stuttgart / regulated dealing



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