Prepress
Readsoft: Year-End Report 2010
Tuesday 15. February 2011 - The result for 2010 increased by 93%
Sales for 2010 amounted to SEK 618.2 (617.7) million
Operating profit EBITDA for the year was SEK 56.5 (29.1) million
Earnings per share after tax for the year were SEK 1.24 (0.23)
Sales for the fourth quarter amounted to SEK 179.5 (167.4) million
Operating profit EBITDA for the fourth quarter was SEK 37.6 (21.6) million
Earnings per share after tax for the fourth quarter were SEK 1.00 (0.70)
Cash-flow from operating activities for 2010 was SEK 73.1 (102.5) million
The Board of Directors will propose to the Annual General Meeting a dividend of SEK 0.25 per share for 2010
Comment from the CEO:
“During 2010 ReadSoft has gradually shown increasingly good results, with the fourth quarter being the best of the year. Our EBITDA-result increased by 73 percent during the fourth quarter. License sales and total sales increased by 17 and 13 percent calculated in local currencies. It is gratifying to be able to show growth in all our markets during the fourth quarter. The strongest growth is seen in Central Europe and Asia Pacific.
Looking at the full year in total, sales grew by six percent in local currencies and the EBITDA-result increased by a strong 93 percent. Our profit before and after tax also improved significantly for 2010 despite the weak market at the beginning of the year. During the year, we were affected by the strong Swedish currency, which makes the growth appear lower than it is in reality.
Our assessment is that the market will continue to improve and we are now focused entirely on developing our business, increasing our growth, and improving our profitability. Provided that the positive market trend continues, we believe that 2011 can be a strong year for ReadSoft. We have world-leading products and solutions for automating document-driven processes at most types of companies and organizations. We operate in a rapidly growing and very wide business segment which is still in an early maturity phase internationally.”