IXOS Software AG
IXOS’ Q3 revenues at prior-year level; 9% growth for first nine months
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IXOS’ Q3 revenues at prior-year level; 9% growth for first nine months
Q3 results impacted by restructuring and one-time charges
Grasbrunn near Munich, May 5, 2004 – IXOS SOFTWARE AG (NASDAQ OTC: XOSYY, FWB:
XOS), Europe’s leading provider of enterprise content management (ECM)
solutions, today announced its figures for Q3 and the first nine months of
fiscal year 2003/2004. Q3 was dominated by special factors relating to the
tender offer by Open Text. The tender offer was successfully concluded on
February 19, 2004, with an acceptance rate of 87.79%. Since then, the focus has
been on creating a common basis for the Company’s future close, successful
cooperation with Open Text. In addition to the implementation of an extensive
cost reduction and restructuring program, business processes have been
streamlined and adapted to Open Text’s organization. The goal is to extend the
Company’s leading competitive position and increase profitability. These
measures will lead to restructuring charges and integration expenses of around
EUR 14 million by the end of the fiscal year.
At EUR 31.4 million, revenues remained stable year-on-year in Q3 of fiscal year
2003/2004 (January 1, 2004 to March 31, 2004) (previous year: EUR 31.6 million).
After adjustment for exchange rate effects, revenues rose by 4%. The loss from
operations before one-time charges amounted to EUR 3.7 million. In addition
restructuring charges and integration expenses of EUR 11.8 million relating to
the acquisition of the Company by Open Text were incurred. Thereafter loss
before taxes was EUR – 16.9 million (previous year: EUR – 3.8 million). The net
loss amounted to EUR 17.1 million (previous year: loss of EUR 3.9 million),
while earnings per share totaled EUR -0.79 (previous year:
EUR -0.18 million).
In the first nine months of the current fiscal year (July 1, 2003 to March 31,
2004), IXOS grew revenues by 9% to EUR 100.4 million (previous year: EUR 91.9
million). After adjustment for exchange rate effects, revenues rose by 16%. The
loss from operations including one-time charges amounted to EUR 15.4 million.
The net loss amounted to EUR 15.4 million (previous year: loss of EUR 2.7
million). This corresponds to earnings per share of EUR -0.71 (previous year:
EUR -0.13).
Sound financial structure
In the first nine months of fiscal year 2003/2004, cash and cash equivalents
rose by 9% to EUR 32.0 million (June 30, 2003: EUR 29.2 million). Total assets
amounted to EUR 104.2 million (June 30, 2003: EUR 108.3 million). The IXOS Group
employed 885 people as of March 31, 2004, the balance sheet date.
Acquisition by Open Text
On February 19, 2004, the tender offer by 2016091Ontario Inc., a wholly-owned
subsidiary of Open Text, was completed with an acceptance rate of 88%. The two
companies have intensified their cooperation in the past few weeks and
demonstrated the results at their first joint user conferences, held in Paris,
London, and Munich on April 26 to 29. The more than 1,500 attendees demonstrate
the great interest in and high acceptance of the combined product and solutions
offering from IXOS and Open Text.
Outlook
IXOS is expecting positive income from operations before special factors for Q4
and fiscal year 2003/2004.
Contact:
IXOS Investor Relations
Anke Lüdemann
0049 (0)89 4629-2400
ir@ixos.de
end of message, (c)DGAP 05.05.2004
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WKN: 506150; ISIN: DE0005061501; Index: NEMAX 50
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
051140 Mai 04
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