Ratingen, Germany - October 8, 2007 - InVision Software AG has reported continued revenue and earnings growth for the first half year of the current fiscal year. Compared to the first half of 2006, revenue rose by 41 percent to EUR 4.82 million. 53 percent of this revenue was generated from locations outside of Germany, Austria and Switzerland (DACH). These revenues outside the DACH region totalled EUR 2.557 million (2006: EUR 1.101 million), which represents a 132 percent increase.  Revenues in the DACH region during the first half of the year declined slightly by 3 percent to EUR 2.263 million, thereby accounting for 47 percent of revenues (2006: 68 percent). The EBIT margin improved from -26 percent to -21 percent whereby the operating result was EUR -989,000 and is thus 13 percent lower than last year. The company reported positive after-tax results of EUR 254,000 for the first half of 2007 compared to EUR -751,000 sustained during the same reporting period in 2006.
Earnings per share also improved favourably, increasing to EUR 0.11 for the first half of 2007 compared to EUR -0.34 in the previous year, in each case based on 2.235 million shares.
The raise in revenues mainly resulted from the 179 percent increase in service revenues to EUR 1.763 million (2006: EUR 631,000) and the 29 percent increase in maintenance revenue to EUR 1.491 (2006: EUR 1.153 million). The significant increase in the service revenue is based on the expansion of service capacities in the second half of 2006 and on the continuing high utilisation of capacity in the Professional Services Division. The increase in maintenance revenues is the direct consequence of a higher maintenance base resulting from licence revenues with both new and existing customers in the previous year and of consistently stable customer loyalty.
The licence revenue dropped slightly by 5 percent from EUR 1.64 million to EUR 1.566 million because in the first half of the year it was generated primarily with existing customers and smaller and mid-sized new customers and, unlike the previous year, did not include revenue from major projects.
Since 18 June 2007, InVision Software AG has been listed in the Prime Standard Segment of Deutsche Boerse. During the course of the IPO, a total of 1,077,000 shares were successfully placed, of which 714,996 shares resulted from a capital increase. The over-allotment option was exercised in full, and approximately 48 percent of the shares are held in free float. The company received a total of approximately EUR 22.9 million in gross proceeds from the capital increase.
Cash and cash equivalents have increased from EUR 142,000 as of 31 December 2006 to EUR 20.223 million, while financial liabilities fell from EUR 879,000 to EUR 34,000. With a capital ratio of 80 percent (31 December 2006: 4 percent), the equity capital is now EUR 21.519 million (31 December 2006: EUR 247,000) and provides a solid basis for the company's further growth and development. The balance sheet totals rose to EUR 26.908 million (2006: EUR 5.711 million) mostly as a result of the equity capital increase. The cash flow from current operating activities, which is generated primarily by the incoming payments from major projects, reached EUR -57,000 in the first half of the year (2006: EUR -682,000). This represents -1 percent of group revenue (2006: -20 percent).
InVision continues to pursue a committed growth strategy for acquiring new customers and earning additional revenue with existing customers. During the remaining course of the fiscal year 2007, the emphasis will be placed on reinforcing sales and service capacity at the existing locations and on further expanding the company's position as a global technology solutions provider for enterprise wide workforce management. The company also plans to continue investing in the ongoing development of its InVision Enterprise WFM product line. Given the successfully completed pilot projects for some major international customers in the first half of the year, the group expects a significant improvement in earnings for fiscal year 2007.
About Invision Software AG: InVision Software is a world-leading supplier of enterprise-wide workforce management solutions which enable companies to optimise their staff planning and scheduling processes. InVision empowers customers to reduce personnel costs, increase productivity, improve employee satisfaction, and boost revenue by leveraging better customer service. Founded in 1995 and based in Ratingen (Germany), InVision currently employs more than 200 WFM specialists and has offices across Europe, North America, and South Africa. |
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