Interim Report Q3 Jan-Sep 2009

- Revenue totaled SEK 130.0 million (110.9), up 17% (17)
- Software revenues (licenses and maintenance) rose 7% (11)
- Operating profit was SEK 10.4 million (13.2), the operating margin 8% (12)
- Profit after tax was SEK 8.7 million (10.9), the profit margin 7% (10)
- Earnings per share after tax equaled SEK 3.1 (3.9)
- Cash flow was SEK -7.3 million (-1.7), and cash, cash equivalents, and current investments totaled SEK 31.0 million (34.7)
- The equity/assets ratio was 36% (36)


CEO’s comment on performance during the period

Jeeves continues investing. During October new versions of Jeeves ERP has been delivered. The new products primarily enhance our offer for the distribution and manufacturing industries. Activities to strengthen our sales channels in Sweden and internationally also remain a top priority.

Sales advanced 17% (17) for the quarter, and the operating margin was 8% (12). Under
prevailing market conditions, with many colleagues in our industry reporting falling
license revenue, such results are satisfactory and demonstrate Jeeves’ resilience and
strength.

New business is being done, but few major transactions are being concluded in this market.
This is true in Sweden as well as abroad. All the same, Jeeves’ maintenance income remains
stable. Slower growth in volumes combined with the costs of the ongoing build up of our
international sales channels have adversely affected the operating margin.

As we enter the fourth quarter, the list of prospects looks better than before in Sweden
and elsewhere. However, it is hard to predict when demand will have a tangible impact on
sales and earnings, because some customers continue to delay their investment decisions.
Investments made in products and sales channels strengthen Jeeves’ well positioned
offer, which is highly flexible and has a low cost of ownership, making it appealing to customers.