2004 Audited Annual Report of update software AG: Earnings per share jumps to EUR 0.28
Ad-hoc release according to §15 WpHGEarnings Q4, Audited Annual Report
2004 Audited Annual Report of update software AG: Earnings per share jumps to EUR 0.28
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Vienna, Frankfurt, April 25, 2005 +++ update software AG, a leading provider of CRM solutions listed on the Frankfurt Exchange, has released its audited results for the 2004 financial year, which were confirmed at today’s meeting of the company’s Supervisory Board. The increase in net annual income to more than EUR 2.6 million resulted in earnings per share of EUR 0.28, an increase of 4 Eurocents per share over the previously published annual guidance.
2004 net income
The 2004 audited net profit for the year was EUR 2.6 million (with an EPS of EUR 0.28), compared to preliminary earnings reported on 26 January 2005 of EUR 2.2 million (with an EPS of EUR 0.24). For the first time since its IPO, the company has capitalised deferred taxes totalling EUR 451,000, as the use of accrued loss carry-forwards can now be assumed due to the positive business development.
The comparison with the previous year’s earnings underscores the most successful year to date for update software AG: the loss of EUR 419,000 in 2003 was turned around into a net profit of EUR 2.605 million.
Revenue growth and EBIT confirmed
The company’s revenue growth reported on 26 January 2005 of 12.6% to more than EUR 15.3 million was confirmed, as was EBIT totalling EUR 2.3 million.
IR contact:
Jochen Zemroser
update software AG
Operngasse 17-21
A-1040 Vienna, Austria
Tel. +43 1 878 55 512
Fax: +43 1 878 55 505
Jochen.Zemroser@update.com
www.update.com
Explanatory text:
The audited annual report will be available for inspection as of 19/05/2005 at update software AG and will be presented in detail to the ordinary shareholders’ meeting on 2 June 2005 by the Management Board.
This is a translation from German into English.
