Tous Actualités
Suivre
Abonner Beta Systems Software AG

Beta Systems Software AG

Beta Systems announces results for the third quarter 2005

Berlin (ots)

Beta Systems Software AG (BSS, ISIN DE0005224406)
today announced the results for the third quarter and the first nine
months ended September 30, 2005.
Key Operational Highlights
- Merger with Kleindienst executed effective from August 25, 2005 
   - Karl-Joachim Veigel leaves Management Board of Beta Systems
     Software AG 
   - Restructuring program continues unabated
Financial Highlights for Third Quarter 2005, Beta Systems
- Revenue declines to Euro 21.7 million (Q3 2004: Euro 23.5  
     million)
   - Non-recurring items: Third-quarter expenses of Euro 1.9 million
     relating to integration (incl. merger-specific expenses) as well
     as Group-wide restructuring and cost-reduction measures
   - Pre-tax loss from continuing operations of Euro 3.8 million (Q3
     2004: loss of Euro 1.4 million)
   - Net loss of Euro 2.0 million/Euro 0.47 per share (Q3 2004: loss 
     of Euro 0.7 million/Euro 0.18 per share)
Financial Highlights for First Nine Months 2005, Beta Systems
- Revenue increases by 8.2% to Euro 64.9 million (9M 2004: Euro  
     60.0 million)
   - Non-recurring items I: Expenses of Euro 3.8 million in the first
     nine months of 2005 relating to integration (incl.  
     merger-specific expenses) as well as Group-wide restructuring 
     and cost-reduction measures
   - Pre-tax loss from continuing operations of Euro 9.5 million (9M
     2004: loss of Euro 2.4 million)
   - Non-recurring items II: Gain on disposal of Outsourcing Service
     business unit of Euro 5.1 million
     (less taxes and operating loss from Jan. 1, 2005, to date of  
     disposal on Apr. 30, 2005)
   - Net loss of Euro 0.2 million/Euro 0.06 per share (9M 2004: loss
     of Euro 0.9 million/Euro 0.23 per share)
Comments of the Management Board
"The situation within the IT sector, particularly in Germany,
continues to be characterized by reluctance on the part of customers
to invest in new systems. There was no sign of a reversal of this
trend in the third quarter of 2005. As outlined in previous quarterly
reports, fiscal 2005 has been dominated by cost reduction,
consolidation, and integration within the framework of our "GaP'05"
program. Our objective is to create a corporate structure in which we
can unlock our potential within the area of earnings and growth in a
more decisive manner," said Dietmar Breyer, CEO of Beta Systems
Software AG, commenting on the results.
Mr. Breyer added, "We are committed to completing the current
process of Group restructuring in a timely manner, the prime
objective being that we can kick off with a new organization and
optimized cost structures in fiscal 2006. We are currently
anticipating a sustained reduction in our break-even threshold by up
to Euro 5 million. With regard to our outlook for 2005, it should be
noted that the prevailing market conditions and expenses associated
with restructuring were taken into consideration. On this basis, we
are able to reaffirm our forecast. We remain confident that we can
achieve a year-on-year increase in revenue from continuing
operations. At the same time, our pre-tax result from continuing
operations, adjusted for non-recurring items, is expected to reach
break-even level. Owing to the one-off gain on disposal of our
Outsourcing Service business unit, an area discontinued as part of
the sale, net income for the year as a whole is expected to rise."
Important note on comparability with financial statements   
published for previous years
As from fiscal 2005, all financial statements are prepared in
accordance with generally accepted International Financial Reporting
Standards (IFRS). Within this context, all data for previous years,
i.e. all balance sheet items as well as all items included in income
statements, have been adjusted accordingly. The conversion from
US-GAAP to IFRS has resulted in a number of differences in terms of
financial reporting. These have been outlined in the Notes to this
report, which also include detailed reconciliations.
Owing to the discontinued operations of the Outsourcing Service
business unit, all data for 2004 and 2005 relating to profit before
taxes (e.g. operating profit and EBT) has been listed with the
supplementary annotation "from continuing operations". These figures
include neither revenues nor operating expenses associated with the
business unit disposed of by the company. Income from discontinued
operations is reported after taxes and is included directly in net
income, viz. the result for the reporting period. Based on this, the
figures for fiscal 2004 are as follows:
Financial indicators 2004 according to IFRS (unaudited)  Euro million
Revenue (continuing operations)                             90.0
Operating income (continuing operations)                     0.9
Earnings before taxes (continuing operations)                0.3
Income from discontinued operations                          1.0
Net income                                                   0.1
Cost of restructuring program
In the fiscal year to date, total expenses associated with the
integration (incl. merger expenses) as well as Group-wide
restructuring and cost-reduction measures within the framework of
"GaP'05" amount to Euro 3.8 million. Additional costs are expected to
be incurred within this area by the end of the fiscal year.
Conference Call
The company will comment on the financial results for the third
quarter of 2005 as part of a conference call to be held on Thursday,
November 10, 2005. The conference call will take place at 11:00 CET
and can be accessed by calling +44 (0)20 7365 1850 (Access Code:
"betasystems"). A tape recording of the telephone conference will be
available for twenty-four hours. This recording can be accessed by
calling +44 (0)207 784 1024 (Access Code: 2438718#).
The full quarterly report has been published under   
www.betasystems.com.
End of announcement
Beta Systems Software AG, Berlin, Germany
Beta Systems Software AG (Deutsche Börse - Prime Standard: BSS) is
a leading supplier of infrastructure software for enterprise critical
applications for the automation and protection of business processes.
Beta Systems provides software in the following areas: Identity
Management (IDM), Enterprise Content Management (ECM) and Data Centre
Infrastructure (DCI). All Beta Systems' solutions are able to manage
high-volumes of information and throughput. They secure business
critical data and help achieve compliance by addressing regulatory
requirements. The ECM product range includes scanners and sorters
from Kleindienst - a brand owned by Beta Systems Software AG.
Beta Systems has been listed on the Deutsche Börse (German stock
exchange) since 1997 and employs 741 people (as at September 2005).
The company has 15 subsidiaries worldwide, as well as numerous
business partners. Beta Systems' worldwide customer base comprises
more than 1000 customers including IT service providers and large
organisations from the fields of finance and insurance,
manufacturing, commerce, telecommunications, logistics and energy
supply, along with public sector organisations. For further
information please visit: www.betasystems.com
This quarterly report contains forward-looking statements based on
current assumptions and forecasts by the management of Beta Systems.
Although these assumptions and forecasts are based on prudent
commercial judgment, there can be no assurance that the expectations
expressed therewith are correct or will materialize. The assumptions
and forecasts contained herein may be subject to risks or
uncertainties which could cause actual results or outcomes to differ
materially from those expressed in the assumptions and forecasts.
Factors that may cause actual results to differ materially are, among
others, changes in economic conditions and the business-related
environment, changes in exchange rates and interest rates,
introduction of competing products, lack of demand for or interest in
new products or services, as well as changes with regard to the
Company's strategy. Beta Systems disclaims any obligation to update
any forward-looking statements to reflect subsequent events or
circumstances. All trade names, trademarks, and service marks or
logos used in this document are the property of the respective
companies.
Originaltext:         Beta Systems Software AG
digital press kits: http://presseportal.de/story.htx?firmaid=12825
press kits via RSS: feed://presseportal.de/rss/pm_12825.rss2
ISIN:                 DE0005224406

Contact:

Corporate Communications
Arne Bassler
Beta Systems Software AG
Tel.: (030) 726 118 -170
Fax: (030) 726 118 - 881
e-mail: arne.bassler@betasystems.com

Plus de actualités: Beta Systems Software AG
Plus de actualités: Beta Systems Software AG