Distribution of company announcements to the professional platforms, finance portals and syndication of important corporate news to a wide variety of news aggregators and financial news systems.
Readsoft AB (STO:RSOFB) License sales increase by 17 percent and continued strong growth in the U.S.
- The turnover for the first six months increased by 16 percent to SEK 273.9 (236.8) million - Results (EBITDA) for the first six months was SEK 3.7 (1.6) million - Results per share for the first six months were SEK -0.28 (0.02) - The turnover for the second quarter increased by 13 percent to SEK 144.8 (127.6) million - Results (EBITDA) for the second quarter was SEK 7.0 (5.2) million - Results per share for the second quarter was SEK -0.01 (0.10) - Cash-flow from the current business for the first six months was SEK 42.4 (16.1) million
"ReadSoft's business has continued to develop well during the second quarter of 2008. License sales increased by 17 percent, and sales in "the USA and the rest of the world" grew by over 30 percent. The Nordic market, too, had a strong quarter with growth of 23 percent, while growth in the large Central European markets was more gradual. ReadSoft's EBITDA improved compared to 2007. However, increased depreciation meant that pre-tax earnings were lower compared to the same period last year. Cash flow from the current business was strong and substantially improved compared to last year. Markets all over the world are unsteady, and many organizations are focusing more and more on finding solutions that reduce their costs. Therefore reasonably negative economic trends could boost sales of strongly cost-cutting products and solutions."
Jan Andersson President and CEO
Read the entire report in the attached pdf
Contact Jan Andersson, President and CEO Phone: +46 708-37 66 00 Jonna Opitz, Vice President Corporate Communications Phone: +46 42-490 21 08 or +46 733-37 86 68 Jan Bertilsson, CFO Phone: +46 42-490 21 43 e-mail: firstname.lastname@readsoft.com
About ReadSoft ReadSoft is a leading global provider of software solutions for Document Automation. ReadSoft's software enables companies to automate document processes such as data entry, classification, ERP matching, workflows, e-invoicing etc. The results are faster and less expensive document processing, and increased control. ReadSoft is by far the world's number one choice for invoice automation solutions. Specialized solution labs for SAP, Oracle, Microsoft and Capture processes ensure cutting edge solutions with great customer value. Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 16 countries on five continents and a network of local and global partners. The head office is located in Helsingborg, Sweden and the ReadSoft share is traded on the Nasdaq OMX Nordic Exchange Small Cap list. For more information about ReadSoft, please visit www.readsoft.com.
