Software provider update improves first quarter turnover and results
Software Provider update Improves First Quarter Turnover and Results---------------------------------------------------------------------------------------------------------------
Vienna, Frankfurt, April 20, 2004 +++ update software AG, listed on the Frankfurt Stock Exchange and a leading vendor of Customer Relationship Management (CRM) solutions, increased revenue compared to the same period last year. The company also recorded an operating profit in the first 3 months, as well as a net profit.
12.3 % Increase in Revenue
The company’s revenue in the first quarter of 2004 increased by 12.3 % to EUR 3.513 million, as compared to EUR 3.128 million in Q1/2003. An operating profit of EUR 448,000 was achieved, a reversal of the previous year’s result of minus EUR 423,000. All in all, following a net loss of EUR 810,000 in the first quarter of 2003, a net profit of EUR 288,000 was achieved in the first quarter of 2004.
Due to the one-off impact caused by reducing operating expenses, the operating profit increased higher than average (putting aside the increase in revenue). The gross margin in the first quarter of 2004 was 75 %; an increase of 23.3 % compared to the same period the previous year.
Cash-flow increased by over 97 %
The cash position in the first quarter of 2004 was increased by 67 % to almost EUR 6.9 million as compared to the final quarter of 2003. Compared to the same quarter the previous year, this corresponds to an increase in cash-flow of over 97 % from EUR 1.4 million to EUR 2.8 million.
IR contact:
Jochen Zemroser
update software AG
Operngasse 17-21
A-1040 Wien
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.
