InVision Software AG: Preliminary Figures For The First Nine Months
AD-HOC NOTICE ACCORDING TO § 15 WpHG
InVision Software AG (ISIN: DE0005859698), a leading international provider of enterprise-wide workforce management solutions, reported a decline in revenues in the third quarter of 2008. According to the preliminary figures, revenues fell to EUR 3.6 million compared to EUR 5.7 million reported in the same quarter in the previous year. Factoring in the EUR 1.2 million write-down of receivables, EBIT is projected to be EUR -2.6 million, down from EUR 2.3 million earned during the same period of the previous year. In the third quarter of 2008, net Group results totalled EUR -1.8 million compared to EUR 1.4 million earned in the same period last year.
According to the preliminary numbers, revenues of EUR 8.7 million were reported during the first nine months of 2008. During the same period in 2007, revenues were EUR 10.5 million. After net income was reported at EUR 1.3 million for the first three quarters last year, EBIT is now EUR -6 million for the first three quarters of 2008. The Group result after nine months in 2008 equalled EUR -3.8 million, whereas during the same period last year, the Group reported net income of EUR 1.7 million.
Given that overall economic development is currently very difficult to predict, InVision does not feel that it is in a position to publish a very reliable forecast for the entire year. Since the Company has encountered an abrupt change in the investment behavior of many of its customers, the Executive Board can currently not rule out a decline in revenue for the entire 2008 year and expects to report a net loss in the current business year. The Executive Board has launched a programme to reduce costs in an effort to improve the cost-to-income ratio in 2009.
InVision believes that it remains very well positioned on the market and is convinced that its business model and products will enjoy success for a long time into the future. The Company operates from a position of economic strength, having liquid funds of EUR 13 million and an equity ratio of more than 79 percent.
The complete financial report for the first nine months of 2008 will be available for download on this website, in the section ‘Financial Reports’, beginning 28th November, 2008.