COR AG Financial Technologies
COR AG Financial Technologies: COR adjusts EBT forecast for 2009 downwards – turnover figures scheduled to remain constant
COR AG Financial Technologies / Change in Forecast/Quarter Results Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- COR adjusts EBT forecast for 2009 downwards - turnover figures scheduled to remain constant (Leinfelden-Echterdingen, Wednesday, 27 May 2009) - COR AG Financial Technologies is adjusting its previous budgeted EBT figures for the current financial year 2009 downwards from EUR 7.0 million to EUR 4.4 million. This step is being taken as a result of postponed investment decisions for a customer project planned for the second half of the year and the costs that are likely to be incurred in connection with planned merger with FJA AG. According to today's estimate by the Management Board, the target for turnover in 2009 continues to be EUR 70.0 million as previously planned. Compared with the first three months of the previous year, COR AG Financial Technologies increased its turnover by 19.7 per cent to EUR 14.7 million in the first quarter of the current financial year. This substantial growth was accounted for predominantly by the consolidation of COR Alldata Systems GmbH, which was acquired as per 1 July 2008. As most of the licensing turnover for 2009 was planned for the second half of the year, the operating result before income tax (EBT) in the first quarter, at EUR -1.6 million, is EUR 3.1 million below the comparable previous year's quarter. Issuing party: COR AG Financial Technologies Karlsruher Straße 3 D-70771 Leinfelden-Echterdingen WKN 508320, ISIN DE0005083208 Stock exchange centres: Regulated market in Frankfurt (Prime Standard); Open market in Berlin, Dusseldorf, Hamburg, Stuttgart Contact COR AG Financial Technologies Investor relations Karlsruher Straße 3 D-70771 Leinfelden-Echterdingen Tel.: +49 711 94958-0 E-mail: ir@corag.de Internet: http://www.corag.de 27.05.2009 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: COR AG Financial Technologies Karlsruher Straße 3 70771 Leinfelden-Echterdingen Deutschland Phone: +49(0)711-94958-0 Fax: +49-(0)711-94958-49 E-mail: ir@corag.de Internet: www.corag.de ISIN: DE0005083208 WKN: 508320 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Stuttgart, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
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