IXOS Software AG
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IXOS: 16% revenue growth in Q1 2003/2004
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IXOS: 16% revenue growth in Q1 2003/2004 – Double-digit revenue growth in
licenses, maintenance and services
Grasbrunn near Munich, November 4, 2003 – IXOS SOFTWARE AG (NASDAQ: “XOSY”,
TecDAX: “XOS”), Europes leading provider of enterprise content management (ECM)
solutions, increased consolidated revenues in Q1 2003/2004 (September 30, 2003)
by 16% to EUR 30.1 million (previous year: EUR 25.9 million), thus exceeding its
revenue growth targets despite the ongoing difficult economic environment. At
the same time, IXOS substantially improved its income from operations during the
traditionally weak summer quarter. The anticipated loss from operations for the
quarter was reduced by 13% to EUR -2.0 million (previous year: EUR -2.2
million). Net income improved by 19% to EUR -1.9 million (previous year: EUR –
2.3 million). This corresponds to earnings of EUR -0.09 per share (previous
year: EUR -0.11).
“Last years investments in further growth are bearing fruit. With double-digit
revenue growth in all business units, we hit our targets in full, and have even
exceeded them in terms of income from operations,” said IXOS Chief Executive
Officer Robert Hoog, commenting on the Q1 results.
Double-digit revenue increases in all business units
Revenues in the license business rose 15% to EUR 10.7 million (previous year:
EUR 9.3 million). Product initiatives outside the SAP environment contributed
34% to license revenue. At the same time, IXOS increased revenues in the
maintenance business unit by 21% to EUR 11.3 million (previous year: EUR 9.4
million). The positive development in the maintenance business is due to the
systematic expansion of the installed base, which rose by 31% to 2,778 product
installations (previous year: 2,116 installations). Despite sustained price
pressure and the difficult economic environment, the professional services
business unit increased by 10% to EUR 8.1 million (previous year: EUR 7.3
million), due to increased customer demand for combined product and service
offerings.
Strong revenue growth in Europe and Asia
IXOS has succeeded in expanding its international market position. On a regional
level, IXOS was particularly successful in Germany, where revenues for the
quarter rose by 30% to EUR 9.1 million (previous year: EUR 7.0 million). The
EMEA region (Europe excluding Germany, the Middle East and Africa) contributed
EUR 10.7 million (+21% against the previous years figure of EUR 8.8 million). At
the individual country level, Great Britain, Switzerland and the Nordic
countries performed above average. The software group recorded a
disproportionate increase in revenue of 59% to EUR 4.4 million (previous year:
EUR 2.8 million) in the Asia/Pacific sales region. The key growth driver here
was Japan, with revenue growth of 70%.
IXOS recorded its sole drop in revenues in the American sales region, with a
decline of EUR 5.9 million (down 20% on the previous years figure of EUR 7.3
million). IXOS reacted to the sustained weakness of its U.S. business by
restructuring its sales operations towards the end of the period under review.
The measures are expected to take effect in the current fiscal year.
On a regional basis, Europe (EMEA) remains the most important sales region for
IXOS with 35% of total revenues, followed by Germany with 30%, America with 20%,
and the Asia/Pacific region with 15% of total revenues.
Forecasts for fiscal year 2003/2004 confirmed
Despite the difficult economic conditions, which are not expected to improve
until the second half of the fiscal year, IXOS confirmed its projections for
fiscal year 2003/2004. In September the software group forecasted a revenue
growth of at least 10% for the current fiscal year, and a positive operating
result for the entire year.
“Even during lean periods for IT investment, IXOS is benefiting from healthy
demand for its expanded ECM solutions offering. At the same time, we have our
operating costs firmly under control,” said IXOS Chief Financial Officer Peter
Rau, commenting on the forecasts.
IXOS considers the international sales of its expanded ECM solutions offering
and expanded partner sales as the main growth drivers. The Munich-based software
group is focusing in particular on in-depth cooperation with market leading
storage manufacturers and systems integrators.
Consolidated total assets as of September 30, 2003 amounted to EUR 100.2 million
(June 30, 2003: EUR 108.2 million). The equity ratio was 68% (June 30, 2003:
65%). On September 30, 2003, IXOS employed 911 people worldwide (June 30, 2003:
919 employees).
Contact: IXOS Investor Relations-Hotline: 0049/89/4629-2400
end of message, (c)DGAP 04.11.2003
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WKN: 506150; ISIN: DE0005061501; Index: TecDAX, NEMAX 50
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
040759 Nov 03
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