update software AG continues to increase revenue in the third quarter
update software AG continues to increase revenue in the third quarter
EBIT continues to increase
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Vienna, Frankfurt, October 19, 2004 +++ update software AG, listed on the Frankfurt Stock Exchange and a leading vendor of Customer Relationship Management (CRM) solutions, again increased revenue in the third quarter as compared to the same period last year. The EBIT increased by over 550%.
update increased revenue by 10.1% to EUR 3.8 m in the third quarter 2004 compared to EUR 3.4 m in Q3/2003. Revenue resulting from new licenses and maintenance increased most markedly (+16.3%).
The operating profit was increased from EUR 112,000 to EUR 767,000 as compared to the same period last year; which translates to an increase of 584.8%. Net profit increased by an impressive 389.5%, from EUR 172,000 in Q3/2003 to EUR 842,000 in Q3/2004. This result is due to a reduction in variable costs (-8.5%), the reversal of unused allowances, as well as an increase in revenue.
All in all, revenue over the first three quarters of 2004 totalled EUR 11.2 m (+14.6% compared to 2003) with an EBIT of EUR 1.9 m. This already translates to an earning per share of EUR 0.18 after the first three quarters.
Liquid assets totalled EUR 5.6 m at the end of the quarter, an increase of 22.6% on the same period the previous year.
IR Contact:
Jochen Zemroser
update software AG
Operngasse 17-21
A-1040 Vienna
Tel: +43 1 878 55 512
Fax: +43 1 878 55 505
Jochen.Zemroser@update.com
www.update.com
This is a translation from German into English.
