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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

  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
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.
end of announcement                               euro adhoc

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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