Business News

Readsoft: Interim Report January – March 2010

Wednesday 21. April 2010 - Varied development during Q1

– Sales for January – March amounted to SEK 135.9 (146.5) million
– Operating profit EBITDA for the period was SEK -5.1 (2.9) million
– Earnings per share after tax for the period were SEK -0.18 (-0.27)
– Cash-flow from operating activities for the period was SEK 20.8 (42.8) million
 
“The results from the first quarter shows that the market continues to be very cautious and investment decisions still take longer time than usual.
 
In local currencies, our business volume remains more or less unchanged, but since the Swedish Krona has strengthened, the turnover for the quarter is lower compared to the first quarter of last year. The profit before and after tax is better than last year, the operating profit is lower, and the cash flow from operating activities is still positive.
 
The results from the different markets are varied, but it is rewarding to see that many of the previously weaker markets such as the UK, Germany, and Spain now show signs of improvement.
 
Our partner sales continue to grow strongly with an increase of 28 percent compared to the first quarter of last year.
 
Due to seasonal variations, the first quarter is our weakest part of the year. Although it has been a slow start, our assessment is that the market is on the rebound. As the market continues to improve, we are optimistic about our potential to increase our sales and improve our profitability”