euro adhoc: Beta Systems Software AG
Earnings
Beta Systems
anticipates strong surge in earnings for FY 2003 (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
- Strong license business and revenues of over EUR 20 million in Q4 2003 - Revenues for FY 2003 increase to over EUR 55 million (2002: EUR 45.1 million) - Pre-tax profit increases to approx. EUR 4.5 million in 2003 (2002: EUR 2.3 million)
Berlin, February 2, 2004 - Based on a preliminary assessment of its Q4 2003 performance figures, Beta Systems Software AG expects to achieve a considerable increase in revenues and earnings for fiscal 2003. Having negotiated a number of significant agreements, the company was able to generate revenues of over EUR 20 million in the fourth quarter of 2003 (Q4 2002: EUR 14.5 million). In particular, license revenues increased to approx. EUR 12 million (Q4 2002: EUR 8.0 million). Overall, Beta Systems is anticipating an increase in license revenues of more than 30% for the full 2003 fiscal year, taking this figure to over EUR 26 million (2002: EUR 19.5 million). As a result, total revenue for FY 2003 will advance beyond the threshold of EUR 55 million; it will thus be approx. EUR 10 million, i.e. more than 20%, higher than the figure posted in the previous fiscal year (EUR 45.1 million). Based on this performance, pre-tax profits are expected to be around EUR 4.5 million (2002: EUR 2.3 million). The palpable improvement in earnings is mainly the result of a significant increase in operating income. At the end of FY 2003, the company had cash and cash equivalents of approx. EUR 15 million.
- End of ad hoc announcement -
Issuer's information/explanatory remarks concerning this ad hoc announcement:
The fourth quarter, a period in which sales are usually considered to be particularly buoyant, was characterized by a number of license and license upgrade deals in 2003, the main emphasis being on large-scale companies and IT service providers. Within this context, Beta Systems succeeded in negotiating license and service agreements, some of which are long term, with several well-known German and European banks, insurers, and financial services enterprises, as well as with a major German airline. The principal share of the revenue increase is attributable to the successful integration of the SAM product line for security management, acquired in early 2003, as well as a number of relatively substantial orders in the area of Document/Output Management. Despite the unfavorable exchange rate, revenues in North America also increased significantly.
AUDITED RESULTS FOR THE FULL FISCAL YEAR 2003 WILL BE MADE PUBLIC ON MARCH 19, 2004, AND WILL BE FURTHER EXPLAINED AS PART OF A PRESS CONFERENCE WITH BETA SYSTEMS' MANAGEMENT.
end of announcement euro adhoc 02.02.2004
Further inquiry note:
Arne Baßler
Beta Systems Software AG
Tel.: +49 (0)30 726 118 0
Fax: +49 (0)30 726 118 800
E-Mail: ir@betasystems.com
Branche: Software
ISIN: DE0005224406
WKN: 522440
Index: CDAX, Prime All Share, Prime Standard, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade