InVision Software AG: Transition to Cloud Computing Impacts 2011 Nine-Month Results
- Preliminary results reveal revenues of approximately EUR 9 million, EBIT of approximately EUR -2.1 million
- Cloud offering also available in the Netherlands as of third quarter
InVision Software AG (ISIN: DE0005859698), one of the leading international providers of cloud-based workforce management, reports its preliminary results for the first nine months of 2011. InVision’s business continues to be defined by the ongoing transition of its business model from licensing to cloud computing, and the positive effects of this strategic repositioning will be seen over the course of 2012. Under the cloud model, InVision generates monthly payments for the use of its solution instead of one-time revenues based on orders. This results in significantly greater scalability of the business model. Due to this transition, InVision is reporting preliminary revenues of approximately EUR 9 million for the first nine months of 2011, as compared with EUR 10.7 million for the same period of the prior year. Revenues from software and subscriptions totalled approximately EUR 6.7 million, compared to EUR 7.8 million in the first nine months of 2010. In services, revenues of approximately EUR 2.3 million were generated, as compared with EUR 2.9 million generated during the same period in 2010. The Company reported approximately EUR -2.1 million in EBIT, compared to EUR -0.2 million in EBIT during the first nine months of the prior year.
In recent months, the Company has continued to push forward with its full transition to cloud computing. After Italy and France most recently, cloud products were made available in the Netherlands during the third quarter of the year, as planned.
The complete financial report for the first nine months of 2011 will be available for download on this website, in the section ‘Financial Reports’, beginning November 15th, 2011.