asknet AG

EANS-News: asknet AG
Unscheduled provisions have negative impact on H1 results

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Company Information

Subtitle: +++ Tax authorities issue notification of interest charge due to a
formal error during VAT calculations for software publishers +++ asknet assesses
legal options and will apply for suspended payment

Karlsruhe (euro adhoc) - July 20, 2011 - asknet AG, a leading supplier of global
eCommerce solutions for software and digital media companies, today announced
that during an internal audit of the billing modalities with software
publishers, formal errors were found under tax law that resulted in incorrect
credit notes being electronically sent to individual software publishers. asknet
AG corrected these credit notes and sent them to the software publishers in
physical form as soon as the errors had been discovered. The matter was reported
to the tax authorities as part of the corrective measures. On July 19, 2011,
Karlsruhe Tax Office issued a notification of interest charges to the amount of
EUR 763 thousand. 

asknet AG is currently assessing its legal options against this notification of
interest charges, as according to the judgment of the European Court, interest
should not be applied for corresponding formal errors and the company will
therefore apply for a suspension of execution with the tax authorities in
question. Regardless of the potential outcome of the proceedings, this interest
is being recognized as an expense in the half-yearly financial statements and
will have negative impact on the half-yearly results. 

The company will publish the half-year report 2011 on August 15, 2011.


About asknet
asknet offers its clients customized outsourcing solutions for global software
sales via the Internet. Founded in 1995 as a spin-off of the Karlsruhe Institute
of Technology (KIT, formerly the University of Karlsruhe), the company has
become a leading independent global provider for electronic software
distribution. In addition to its fully integrated shop solutions for software
publishers, the company develops and maintains portals for software distribution
such as softwarehouse.de, one of Europe's largest platform for downloads of
standard software. In 2010, asknet posted sales of approximately 72.7 million
euros. asknet´s clients include numerous providers of specialty software such as
F-Secure, IS3, Nero, NetObjects, Norman, and Panda Security. The company also
supplies software products to around eighty percent of German universities.


Further inquiry note:
Madeleine Clark
Tel.: +49 (0)721-96 458-6116
E-Mail: Madeleine.Clark@asknet.de

end of announcement                               euro adhoc 
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company:     asknet AG
             Vincenz-Priessnitz-Str. 3
             D-76131 Karlsruhe
phone:       +49 (0)721 96 458 6369
FAX:         +49 (0)721-96 45899
mail:     info@asknet.de
WWW:      http://www.asknet.de
sector:      Electronic Commerce
ISIN:        DE0005173306
indexes:     
stockmarkets: free trade: Berlin, Stuttgart, Düsseldorf, München, Open Market /
             Entry Standard: Frankfurt 
language:   English
 



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