Prepress

Readsoft: Interim Report January – March 2011

Wednesday 04. May 2011 - Increased license sales, improved result and strong cash flow

Sales for January-March increased with 4 percent to SEK 141.8 (135.9) million
Operating profit EBITDA for the period was SEK -2.6 (-5.1) million
Earnings per share after tax for the first quarter were SEK -0.04 (-0.18)
Cash-flow from operating activities for the period was SEK 52.2 (20.8) million
CEO comment:
“The first quarter is typically the weakest period of the year, but we have started 2011 well with sales that is much stronger than it looks.
Calculated in local currencies, our total sales grew by 12 percent and our license sales by 14 percent. The Swedish krona has, compared with the corresponding period last year, strengthened by an average of eight percent, resulting in reduced revenue growth in Swedish kronor. The strong currency fluctuations depress our result below zero, but do not affect a very good cash flow in excess of SEK 50 million for the period.
The sales development has been notably positive in “U.S. and the rest of the world”, growing by 29 percent compared to last year, and most of the markets in Scandinavia and Europe have also developed well. However, the general economic situation has affected sales in some parts of the world. Spain for example has experienced a weak start of the year.
With the current market conditions, the outlook for the year is promising and we are optimistic about our opportunities to further enhance both our growth and our profitability during the year.”