Interim Report Q3 Jan-Mar 2008
January – September 2008
• Turnover amounted to SEK 110.9 million (94.5) and increased by 17% (11)
• Software revenues amounted to SEK 91.3 million (82.3) and increased by 11% (10)
• The operating profit was SEK 13.2 million (12.9) and the operating margin was 12% (14)
• Net results after tax amounted to SEK 10.9 million (10.7) and the net margin 10% (11)
• Earnings per share after taxes were SEK 3.9 (3.6)
• The cash flow was SEK –1.7 million (2.1) including the dividend and cash and current investments amounted to SEK 34.7 million (32.1)
• The equity/assets ratio amounted to 36% (36)
CEO’s comments on the results
Jeeves has delivered profitable growth for 6.5 years in every individual quarter. We continue to win new customers and our customer base is growing. Sales in the third quarter were solid. The share of consultancy revenues grew, primarily related to the acquisition of the Norwegian company LogIT Gruppen.
During the third quarter, we sold the first licenses for Jeeves ERP, aimed at small, high-growth enterprises. Our recent Norwegian acquisition, together with our other international business activities, developed favorably.
We see a solid underlying demand for ERP systems in that many customers still have outdated solutions. Uncertainty regarding trends in the economy makes estimates of sales somewhat harder to predict. At the same time we see new opportunities in the fact that we provide the system with the lowest cost of ownership on the market when investments in rationalization are prioritized.