InVision Software AG Releases Final Figures for 2010
- Preliminary revenue and earnings figures completely met
- EBIT climbs to EUR 1.1 million, revenues are up 34% to EUR 16.0 million
- Transition to cloud computing unleashes additional earnings potential
With the release of its annual report, InVision Software AG (ISIN: DE0005859698), one of the leading international providers of company-wide workforce management (WFM) solutions, has confirmed the preliminary figures that had been projected for fiscal year 2010. Revenues increased by 34 percent from EUR 12.0 million in 2009 to EUR 16.0 million in 2010. EBIT improved from EUR -7.0 million in 2009 to EUR 1.1 million in 2010. The consolidated result also turned positive, rising from EUR -4.5 million in 2009 to EUR +1.0 million in 2010. Earnings per share came in at EUR 0.45.
InVision Software reported very dynamic business growth both in Germany and abroad in all business sectors in 2010. This favourable development is continuing. It is from this position of strength that InVision Software is transitioning its core business model to cloud computing. With this transition, the Company takes an excellent position for further market penetration and exploitation of higher earnings potential. In future, customers will be able to use InVision’s products as Software as a Service (SaaS), without initial investment in expensive hardware or software. By simply going online, they can access all functionalities, just paying a user fee – without any investment costs. Furthermore, the implementation period of InVision’s SaaS solution can be significantly reduced, compared to conventional WFM projects.
The initial response from customers was very positive, indicating that InVision Software is particularly meeting customers’ needs by transitioning its business model. After having grown faster than the market in 2010, cloud computing now opens up additional customer potential especially in the segment of small and medium-sized businesses. Here, InVision’s international market coverage with its subsidiaries in Europe, America and Africa provides a real competitive advantage. Accordingly, InVision Software AG is again projecting revenue growth and positive results for the 2011/2012 period.
The complete 2010 Annual Report is available now for download on this website, in the section ‘Financial Reports’.