Interim Report Q2 Jan-Jun 2007

Stable development for Jeeves

January - June 2007

• Revenue totalled MSEK 63.5 (56.8) and increased by 12% (30)
• Program revenue (licensing and maintenance) increased by 10% (35)
• Net operating income was MSEK 5.6 (5.6) and the operating margin totalled 9% (10)
• Earnings after tax amounted to MSEK 5.2 (4.4) and the income margin was 8% (8)
• Per-share earnings after tax were SEK 1.7 (1.5)
• Cash flow was MSEK 6.1 (4.0) and liquid assets and short-term investments totalled MSEK 36.1 (32.2)
• A decision reached by the annual general meeting regarding an employee convertible program will be implemented
• 85% of the subsidiary in Germany was sold. The income from this will be reported during the next quarter

CEO comments on the results
During the first six months, turnover and earnings underwent stable development. The second quarter, however, was somewhat poorer than expected. Market demand remains good. Prospects for autumn look promising.

Our international efforts continue to bear fruit. The quarter had a number of highlights, such as the signing of two big contracts in France. Together with IBM, we entered into a large agreement with a French road-sign manufacturer. We entered into an agreement with ID Systems, which is a leading application supplier to the French wine industry and has approximately 450 customers. The company will develop it's next generation solution based on Jeeves.

Our efforts for the future focus on larger and larger customers, larger partners and partners in several countries. We are on our way from being a leading Swedish supplier to becoming a leading European player in our segment.


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