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.
Day Software Holding AG (VTX:DAYN) Corporate news announcement processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
Company increases revenue and presses ahead with market expansion
Basle, Switzerland - 13 November 2008 - Day Software (SWX: DAYN, OTCQX: DYIHY), a leading provider of global content management software and content infrastructure software, provided information on its developments in the third quarter of 2008 today.
Summary * Overall revenue for the first nine months of 2008 amounted to CHF 20.0 million compared to CHF 18.3 million in the first nine months of 2007. * Overall revenue increased by 16% compared with the second quarter of 2008. * Overall revenue increased by 8% to CHF 6.8 million compared with the third quarter of 2007. * Losses were reduced to CHF 524,000 compared to the previous quarter. * The cash reserves increased to CHF 16.2 million. * The core product CQ5 was completely revised and presented successfully after 18 month. Deliveries will start mid November. * Senior Management and its competences were significantly strengthened thanks to new members. * The industrial analyst Gartner added Day to the Magic Quadrant for enterprise content management as a visionary.
Overall revenue for the nine-month period that ended on 30 September 2008 increased by 9% compared to the previous year and amounted to CHF 20.0 million compared to CHF 18.3 million for the corresponding nine-month period in the previous year.
Revenue from licences for the nine months until 30 September 2008 amounted to CHF 7.8 million compared to CHF 6.7 million for the same period in the previous year. For the first nine months of the year 2008, here was a loss of CHF 924,000 results.
For the third quarter of 2008, Day reported an increase in overall revenue of 8% compared to the same period in 2007. Expressed in absolute figures, revenue for the third quarter amounted to CHF 6.8 million, which corresponds to an increase of CHF 0.5 million compared to the third quarter of 2007. Losses amounted to CHF 524,000 in the third quarter. At the same time, the cash reserves in the second quarter of 2008 increased to CHF 16.2 million.
"In the third quarter of this year, we were able to continue our growth despite some market turbulences. The technical efforts in connection with the launch of CQ5 were a cost factor again and we had to live with losses for Q3, too; however, we were also able to improve our cash position again compared to the second quarter", says Erik Hansen, CEO of Day. "It is particularly important for us today to have a healthy financial basis. This shows our customers and partners that we are a reliable partner. In addition, Day Software has just been approved as technology leader by leading analysts, which encourages us in our aim of continuing and supporting our product development in the same way."
Market expansion and cost control. "We have specifically focussed on the restructuring and expansion of our distribution channels. Thanks to Trevor Salmon starting as VP NEMEA, the expansion of the markets, mainly in Northern Europe, is specifically being pushed on. At the same time, the Senior Management of Day now has the support of Richard Francis as new CFO and Kevin Cochrane as Chief Marketing Officer, who has significantly influenced our market segment in the past 15 years. "We are convinced", Erik Hansen adds, "that with the new products and the new team we have set the best basis to specifically gain market shares, particularly in today's economy that calls for agility. As a team we will continue to push on the optimisation and restructuring of our distribution channels and marketing structures in the coming months. We will strictly and constantly control and keep an eye on the costs arising for the continued market expansion and the reorganisation."
CQ WCM 5.0. Day's core product CQ5 was presented and introduced at the end of October after 18 months of complete revision. Deliveries to the customers will start mid November. The latest product of the software producers from Basle enables users to switch to a completely revised software more easily than ever before and immediately use all advantages of the new version. The most apparent features of CQ5 are that all modules were developed in-house, that it can be fully integrated and that it was adapted to the new requirements implicated by the WEB 2.0.
Technology leadership. Last month, Day was classified as "visionary" by the leading IT analyst Gartner in the Magic Quadrant for Enterprise Content Management (EMC). Thus Gartner confirms that Day has the correct strategy for developing its products. Gartner's approval speaks for the path chosen by Day to quickly expand and structure global direct and indirect sales.
Corporate customers. The company was also able to acquire important new customers from various vertical markets in the third quarter. These include Franke in Switzerland, Nissan Europe in the automotive industry as well as the City College of San Francisco in the sector of universities in the US.
About Day - www.day.com Day is a leading provider of integrated content management, portal and digital asset management software. Day's technology Communiqué provides an easy-to-understand, quickly applicable framework for standardising and managing all business data, systems, applications and processes via the web.
Day is an international company established in 1993 and listed on the SWX Swiss Exchange since April 2000. Day shares are also traded over the counter (OTC) in the form of American Depositary Receipts (OTCQX:DYIHY). Day's customers are some of the most important global corporations and include Audi, DaimlerChrysler, Deutsche Post World Net, Deutsche Bank, InterContinental Hotels Group, McDonald's and Volkswagen.
Warning regarding forward-looking statements This press release may contain forward-looking statements about future events or the future development of Day Software Holding AG and its subsidiaries ("the Company"). Terms such as "expect", "assume", "intend", "believe", "want" and any variations of these terms or similar expressions are used to make forward-looking statements. These statements are subject to change, and Day cannot necessarily provide information about such changes. Of course, actual events or results can deviate significantly from the forward-looking statements. The company's share is not listed on any stock exchange in the US, and the company does not file any documents (e.g. 10-K and 10-Q) with the US Securities and Exchange Commission SEC under the Securities Exchange Act of 1934.
Further information
Peter Nachbur Day Software AG Barfuesserplatz 6 4051 Basel, Switzerland Phone +41 61 226 98 98 E-mail: peter.nachbur@day.com
The German version of this press release is binding.
--- End of Message ---
Day Software Holding AG Barfüsserplatz 6 Basel Schweiz
WKN: 936168; ISIN: CH0010474218; Index: SPI, SPIEX, SSCI; Listed: Main Market in SWX Swiss Exchange;
