Interim Report Q1 Jan-Mar 2009
January - March 2009
- Revenue reached SEK 45.7 million (34.3), up 33% (9)
- Software revenues (license and maintenance) increased 9% (16)
- Operating profit was SEK 4.2 million (4.8), giving an operating margin of 9% (14)
- Profit after tax totaled SEK 4.0 million (3.2), giving a profit margin of 9% (9)
- Earnings per share after tax were SEK 1.5 (1.1)
- Cash flow was SEK 6.4 million (10.7), and cash, cash equivalents, and current investments totaled SEK 44.6 million (47.0)
- The equity/assets ratio was 35% (37)
- Thomas Wernhoff proposed as new Chairman of the Board
CEO’s comment on performance
I remain satisfied with Jeeves’ progress. Despite the recession, we are maintaining steady
profitability and sales growth. We are proud to have reported a profit for every single quarter for
the past seven years.
We are seeing somewhat slower growth in demand for ERP systems because of the state
of the economy. Yet underlying demand and the need for ERP systems remains healthy, and we
have a steady stream of new prospects.
During the quarter, Jeeves made fewer sales, but there were more major transactions than in
the preceding quarter. Several billion-dollar enterprises have chosen Jeeves ERP. In addition to Swedish sales, several new orders were secured by a few international partners.
Activities to strengthen our position and our international sales channels remain a high
priority, because international expansion is essential if Jeeves is to continue growing in the
Jeeves’ financial strategy, to achieve healthy growth with balanced profit while maintaining a
strong balance sheet, is an advantage in these times. Seven years of profitability show the longterm
benefits of Jeeves’ business model, in which we and our partners together construct an
offer attractive to the market.
Jeeves Information Systems AB is a leading supplier of enterprise resource planning (ERP) systems that provides companies with efficient solutions for developing and supporting their business processes through its products Jeeves Selected, Jeeves Universal, and Garp. Jeeves’ ERP systems offer broad functionality at a total cost of ownership that is the lowest in the market*. Customers are companies with 5 to 1,000 employees, spread among approximately 4,000 companies in more than 40 countries. Jeeves focuses on product development, while its partners and resellers handle sales. Operations began in 1992, and since 1999 Jeeves has been listed on the small companies list of NASDAQ OMX Nordic in Stockholm (Small Cap). For more information, see www.jeeves.se.
* Radar Group