USU Software AG

EANS-News: USU Software AG: Positive growth trend continuing despite targeted future investments

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Financial Figures/Balance Sheet/Earnings/quarterly report/9-month report


Möglingen, November 9, 2012 (euro adhoc) - -

-       Sales up 15% to EUR 36.9 million 
-       International sales grow by 89% to EUR 6.0 million 
-       Targeted investments in sales partnership with CA and workforce  
        expansion
-       Adjusted EBIT rises 17% year-on-year to EUR 4.5 million
-       Corporate planning for 2012 confirmed


USU Software AG ("USU") today announced its figures for the first nine months of
2012. In the reporting period, USU increased its consolidated sales (IFRS) to
EUR 36.9 million (Q1-Q3/2011: EUR 32.0 million), corresponding to a rise of 15%
as against the previous year. International business, to which the newly founded
subsidiary Aspera Technologies Inc. has also contributed since the first quarter
of 2012, expanded by 89% in the first nine months of the current fiscal year to
EUR 6.0 million (Q1-Q3/2011: EUR 3.2 million). The share of consolidated sales
generated internationally therefore rose from 10% in the previous year to 16% in
the period under review, and was thus still higher than the stated target for
2012 of 15%. 

The operating cost base of the USU Group expanded by 17% year-on-year to EUR
32.9 million (Q1-Q3/2011: EUR 28.2 million), which was due in part to the
targeted headcount increase of 13% to 355 (September 30, 2011: 313) employees.
In addition, there were advance investments in the partnership with CA
Technologies ("CA"), one of the biggest global software groups, with which USU
concluded a long-term software license management partner agreement in the
reporting quarter. In future, CA will globally market the SmartTrack license
management solution from USU's Group subsidiary Aspera together with its service
management product suite, which in the current fiscal year has necessitated
extensive advance investments for the integration of both partner products. From
2013, the Management Board is anticipating an annual contribution to earnings in
the USU Group from the license and maintenance income that will result from this
of more than a million euro.

Owing to the extraordinary effect of the final Aspera acquisition in the first
quarter of 2012 and the associated non-recurring expense for the purchase price
adjustment of EUR 1.9 million, EBITDA for the first nine months of 2012 amounted
to EUR 2.7 million (Q1-Q3/2011: EUR 4.2 million), while unadjusted EBIT totaled
EUR 1.4 million (Q1-Q3/2011: EUR 2.6 million). Mainly as a result of the
recognition of deferred tax assets in connection with the conclusion of the
profit transfer agreement between USU Software AG and Aspera GmbH, USU generated
cumulative tax income of EUR 0.3 million in the first nine months of 2012
(Q1-Q3/2011: EUR -0.7 million), with the result that USU generated an unadjusted
net result in the reporting period of EUR 1.5 million (Q1-Q3/2011: EUR 1.8
million). This corresponds to earnings per share of EUR 0.14 (Q1-Q3/2011: EUR
0.17). 

USU's adjusted EBIT (adjusted for extraordinary factors) increased by 17% in the
period under review to EUR 4.5 million (Q1-Q3/2011: EUR 3.8 million). Adjusted
consolidated earnings rose by 25% as against the previous year to EUR 3.4
million (Q1-Q3/2011: EUR 2.7 million). This corresponds to adjusted earnings per
share of EUR 0.32 (Q1-Q3/2011: EUR 0.26).

Following the settlement of the purchase price for the remaining 49% of shares
in Aspera including the pro rata profit distribution totaling EUR 9.0 million in
the second quarter of 2012 and the payment of the dividend to USU shareholders
of EUR 2.1 million in the reporting quarter, cash and cash equivalents including
securities amounted to EUR 9.6 million as of September 30, 2012 in line with
planning (December 31, 2011: EUR 17.6 million). As a result of the settlement of
the final purchase price liability for Aspera, the equity ratio climbed to 77%
as at September 30, 2012 (December 31, 2011: 71%).

On the basis of the positive business performance in the first nine months of
the current year and regardless of the additional investments, the Management
Board is confirming its sales and earnings planning for the current fiscal year
of consolidated sales of at least EUR 48 million and adjusted EBIT of between
EUR 6.5 and EUR 7.0 million. It also intends to again allow the company's
shareholders to participate heavily in its success - as per its dividend policy
- in the form of a profit distribution. The Management Board is also optimistic,
on the basis of the forecast additional income from the partnership with CA and
continuing strong growth in international business, of significantly exceeding
the EUR 50 million marker in consolidated sales while further expanding adjusted
EBIT in 2013.


The complete nine-month report for 2012 is available for download on the USU
Software AG website at www.usu-software.de. Further information will be
presented by the Management Board of the company at the analyst and investor
conference "German Equity Forum 2012" on November 14, 2012 at 9:45 a.m. at the
Congress Center of Messe Frankfurt, Room Zuerich (Ludwig-Erhard-Anlage 1, 60327
Frankfurt/Main).


Further inquiry note:
USU Software AG 
Investor Relations 
Falk Sorge 
Spitalhof
D-71696 Möglingen
Tel.: +49 (0) 71 41 - 48 67 351 
Fax:  +49 (0) 71 41 - 48 67 108 
E-Mail: f.sorge@usu-software.de

USU Software AG 
Corporate Communications 
Dr. Thomas Gerick 
Tel.: +49 (0) 71 41 - 48 67 440 
Fax:  +49 (0) 71 41 - 48 67 909 
E-Mail: t.gerick@usu-software.de

end of announcement                               euro adhoc 
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company:     USU Software AG
             Spitalhof  
             D-71696 Möglingen
phone:       +49 (0)7141 4867 0
FAX:         +49 (0)7141 4867 20
mail:     investor@usu-software.de
WWW:      http://www.usu-software.de
sector:      Software
ISIN:        DE000A0BVU28
indexes:     CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
             regulated dealing: Stuttgart, regulated dealing/prime standard:
             Frankfurt 
language:   English
 



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