InVision Software AG Confirms Results For The First Half Of 2011
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- Revenues increased slightly to EUR 6.7 million
- Regional expansion of the new cloud solution
InVision Software AG (ISIN: DE0005859698), one of the leading international providers of cloud-based workforce management, confirms its preliminary results for the first half of 2011. In spite of the ongoing transition of the business model to cloud computing, the final figures show that revenues increased slightly in the first half of 2011 at EUR 6.7 million by 2 percent compared to the prior year period (H1 2010: EUR 6.6 million). At EUR -0.8 million, EBIT matched the level of the prior year period. The overall result amounted to EUR -1.3 million compared to EUR -0.5 million in the first half of 2010. Liquid assets declined by 33 percent to EUR 3.8 million (31 December 2010: EUR 5.7 million) mainly due to the takeover of The Call Center School in the US as well as the share buy-back programme carried out in the first half of the year.
Revenues from services rose by 9 percent from EUR 1.8 million in the first half of 2010 to EUR 2.0 million in the first half of 2011. Software and subscription revenues in the first six months of 2011 remained at the prior year level of EUR 4.7 million. Business in German-speaking countries developed particularly dynamically; compared to the first half of 2010, revenues in these regions increased by 37 percent to EUR 3.7 million (H1 2010: EUR 2.7 million). In contrast, revenues in other regions declined by 23 percent to EUR 2.9 million (H1 2010: EUR 3.8 million).
Since the future global macroeconomic development is not foreseeable, it is not possible to issue a forecast for the ongoing fiscal year that has any high probability of occurrence.
InVision‘s new cloud solution for workforce management continues to meet with high interest on the market. Therefore, in recent months the transition of the entire business model to cloud computing was further accelerated and the regional expansion was expedited. Following Italy and France on July 1st, 2011, the availability of cloud products will be expanded to the Netherlands in the third quarter. The company is still expecting up to 100,000 cloud users by year end.
The complete financial report for the first six months of 2011 is available now for download on this website, in the section ‘Financial Reports’.