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LHS Aktiengesellschaft announces financial results for the first quarter 2007
Revenue growth of 56 percent in first quarter 2007 - Full-year guidance for 2007 raised to E 90 - 93 million revenue - 45 new employees
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Frankfurt am Main (euro adhoc) - April 25th, 2007 - LHS, a leading provider of telecom billing and customer care systems across the wireless, wireline, and IP telecom markets worldwide, today announces its first quarter results for the period that ended March 31, 2007.
Prepared in accordance with International Financial Reporting Standards (IFRS), the results included the following key figures for the first quarter of 2007:
- Revenue for the first quarter in 2007 increased by 56 percent from E 14 million to E 21.7 million compared to the first quarter of 2006. - The adjusted EBITDA increased from E 1.7 million in the first quarter 2006 to E 4.1 million in the first quarter of 2007, an increase of 135 percent. - Adjusted net profit (less stock option expenses) for the first quarter 2007 reached E 3.7 million compared to E 0.5 million in the first quarter 2006. - The adjusted basic earnings per share (based on the adjusted net profit) for the first quarter 2007 is E 0.26; while the respective diluted earnings per share for the first quarter 2007 is as well E 0.26. - In the first quarter 2007, the company was able to increase its free cash flow from E 2.5 million in first quarter 2006 to E 5 million.
The global telecommunications markets are growing dynamically. In the growth markets in Middle East, Africa and Asia LHS achieved a revenue of E 9.7 million, a growth rate of 83 percent compared to the first quarter of 2006. The region represented 44.8 percent of the total revenue of LHS for the first quarter of 2007.
In Europe, LHS reached a turnover of E 7.1 million for the first quarter 2007, an increase of 21.5 percent. Europe now represents 32.8 percent of total revenues. In Latin America the company achieved a growth rate of 74.2 percent with E 4.9 million and represents 22.3 percent of total revenues.
Operational highlights indicate ongoing growth
The first quarter of 2007 was highly successful for LHS. Key operational highlights include:
- Five new projects were signed. These consisted of one new customer in the region of Middle East and four existing customers who did switch or are in the process of switching to the latest versions of BSCS. The number of projects for our latest version of BSCS iX that was only launched in October 2006 now amounts to eight. - At the end of the first quarter 2007, LHS had a total of 122 installations compared to 114 at the end of the first quarter 2006. - LHS successfully positioned in the pre-paid postpaid convergence market. - LHS created 45 new jobs, of which 20 are in Frankfurt/Germany, 18 in Sao Paolo/Brazil and 7 in Kuala Lumpur/Malaysia.
Wolfgang Kroh, Chief Executive Officer at LHS commented on the first quarter results by saying: "The excellent result of the first quarter of 2007 took LHS another step further on its growth path and is the achievement of outstanding worldwide cooperation. We grew strongly in emerging markets, especially in the Middle East, and gained strong momentum in Latin America. Together with our partners we will continue to work at our target of worldwide market leadership as an independent software vendor in our market segment with maximum commitment."
Positive future outlook
For fiscal 2007, LHS expects this positive development with ongoing growth to continue. The company's full-year guidance for 2007 has been raised to E 90 to E 93 in revenue from the previous E 86 to E 89 million. Expected adjusted EBITDA margin for fiscal 2007 remains at around 20 percent. For the second quarter of fiscal 2007 LHS expects revenues of around E 23 million with an adjusted EBITDA of around 19 percent.
"The excellent results of the first quarter 2007 showed that the company's orientation to sustained profitable growth is highly successful. One of LHS' most fundamental strengths is its customer base and we will continue to work in every area to maintain and grow this customer base in order to secure an even broader foundation for growth of LHS," says Wolfgang Kroh, Chief Executive Officer at LHS.
The quarterly report is available on our website: http://www.lhsgroup .com/internet/pages/investor_relations/d/home/thema.php
About LHS LHS is a leading provider of telecom billing and customer care systems across the wireless, wireline, and IP telecom markets worldwide. LHS Business Support Systems offer full convergence on various levels, supporting the complete range of business models both across the mix of fixed and mobile services, as well as prepaid and postpaid services. LHS builds innovative systems that enable our customers to introduce new services fast, helping drive revenues up, while keeping operational costs to a minimum. LHS was awarded "Best Billing or Customer Care Solution" by the GSM Association in Cannes in 2005, and won the IIR World Billing Awards for its "Overall Best Contribution to Billing" in London in 2005 and 2006. LHS is an independent software vendor (ISV) with headquarters in Germany, and offices in Brazil, Czech Republic, France, Malaysia, Turkey, and United Arab Emirates. LHS is part of the LHS Group, and LHS Aktiengesellschaft as the Group's Holding company is a public company listed on the Frankfurter Stock Exchange (LHS400). For more information, please visit www.lhsgroup.com
Disclaimer: This press release contains certain forward-looking statements relating to the business, financial performance and results of the Company and / or the industry in which the Company operates. Forward-looking statements concern future circumstances and results and other statements that are not historical facts. The forward-looking statements, including assumptions, opinions and views of the Company contained in this press release are solely opinions and forecasts which are uncertain and subject to risks. A multitude of factors can cause actual events to differ significantly from any anticipated development. The Company is under no obligation to update or keep current the information contained in this press release to which they relate and any opinions expressed in them are subject to change without notice.
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ots Originaltext: LHS Aktiengesellschaft
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