Interim Report Jan-Mar 2012

January – March 2012

  • Net sales totaled SEK 49.7 million (46,0), up 8% (8)
  • Software revenues (licenses and maintenance) totaled SEK 38.7million (37.1)
  • Operating profit (EBITDA) was SEK 6.8 million (7.5), and the operating margin (EBITDA) 13% (16)
  • Net profit per share was SEK 0.78 (0.80)
  • Cash flow from continuing operations was SEK 5.1 million (12.2)
  • Battery Ventures has made a public offer for 100% of Jeeves’ shares and warrants


CEO’s comment on performance
Jeeves’ turnover increased by 8 percent in Q1, maintaining an EBITDA margin of 13 percent.

The market situation has not changed, and we are seeing a strong interest in ERP systems with several procurements in progress. The deals that are closed continue to be with smaller companies in the SME segment. New sales and maintenance revenue remain stable, but the few larger deals are limiting growth. We have seen a healthy demand for our consultants.

Jeeves and its partners are gradually strengthening Jeeves’ offering and position in selected industry segments. During the quarter Jeeves launched a new concept for the fashion sector (textile and design companies), which integrates companies’ design processes with an ERP system that is tailored to the sector’s particular needs. Several new fashion customers have also chosen Jeeves, both in Sweden and abroad. Building supply retailers are another important target group where we have signed new customers.

Jeeves, which supplies attractive products adapted to rapidly growing companies’ need for change and efficiency, is one of the few suppliers that continue to make new sales and increase its customer base. We are well positioned for growth, both in Sweden and abroad.

 

For more information
CFO Anna Salomon-Sörensen +46 8 587 099 45.

About Jeeves
Jeeves Information Systems AB (Jeeves) develops ERP systems for small and midsized companies. Every day, Jeeves' ERP solutions; Jeeves Universal, Jeeves Selected and Garp, are used by more than 4 000 companies in over 40 countries. The ERP systems are user friendly, easily customizable, and at the same time optimal for continuous improvement of the business support. Jeeves' head office is located in Stockholm, Sweden and the company is listed on NASDAQ OMX Nordic Exchange (Small Cap) since 1999. For more information, please visit www.jeeves.se/en