Business News

Readsoft: Interim Report January – March 2008

Friday 25. April 2008 - Sales increase by 18 percent. The US continues to show strong growth.

• The turnover for the first quarter increased by 18 percent to SEK 129.1(109.2) million
• Operating margin (EBITDA) for the period was -2.6 (-3.3) percent
• Results after tax was SEK -9.1 (-2.6) million
• Results per share after tax was SEK -0.28 (-0.08) kronor
• Cash-flow from the current business was SEK 23.7 (9.5) million
“During the first quarter of 2008 ReadSoft’s business operations developed as planned. Sales performance resulted in the third largest quarter ever and turnover increased by 18%. The development of the areas referred to as “United States and the rest of the world” was especially positive and saw the most growth, with an increase of 61%. First quarter results are according to plan. Write-offs of earlier product development capitalizations increased by SEK 8 million compared to the same period last year, and are the main reason for this quarter’s negative results. The positive response to our new products demonstrates our strength as well as our continued ambition to be market leaders. Investments for growth and profitability continued in this most recent quarter, but at a reduced level compared to 2007.”
 
Jan Andersson
President and CEO