Ad-hoc | 12 November 2001 07:30

BETA Systems Software english

BETA SYSTEMS SOFTWARE AG ANNOUNCES RESULTS FOR THE THIRD QUARTER 2001 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Berlin, November 12, 2001 – Beta Systems Software AG, (Neuer Markt: BSS), a leading provider of high performance intelligent data management solutions, today announced results for the third quarter ended September 30, 2001. Financial Highlights Third Quarter 2001 – Total revenues increased by 18.5% to EURO 10.4 million (third quarter 2000: EURO 8.7 million) – Operating loss reduced by 50% to EURO 772,000 (third quarter 2000: EURO 1.5 million) – One-time items of EURO 1.3 million impacted quarterly performance: impairment charge for a possible loss resulting from a financial asset, restructuring costs and costs resulting from currency exchange rates – Pre tax loss including one-time items of EURO 1.4 million – Net loss of EURO 1.6 million (0.40 per share) – Cash position of EURO 13.7 million Financial Highlights Nine Months 2001 – Total revenues increased by 12.6% to EURO 29.4 million (nine months 2000: EURO 26.1 million) – One-time items of EURO 5.9 million impact performance – Pre tax loss including one-time items of EURO 7.4 million (nine months 2000: EURO 3,8 million) end of ad-hoc-announcement (c)DGAP 12.11.2001 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Management Comments Karl-Joachim Veigel, CEO of Beta Systems commented, “These results reflect the steady progress and ongoing improvements in our Company. As one of only a few vendors in the European IT sector we continue to demonstrate top-line growth. Beta Systems’ licensed sales increased by 30% in connection with recurring maintenance revenues, which grew by 15%. These results were in line with our expectations and underline that we are executing the turnaround program on schedule. In addition, we have reduced operating losses by almost 50% to EURO 772,000 in the third quarter 2001. As previously announced, we are in the very early stages the turnaround program and had to make a number of one-time charges. Most of the expenses were the result of the Company’s restructuring and adjustments to our books to reflect the current market realities and risks.” Mr. Veigel added, “We performed well in the third quarter, despite a tough business climate and ongoing softness in IT demand. Taking the increased uncertainties in the economy into consideration, due to recent events, visibility for the fourth quarter of 2001 has not improved. Lengthening sales cycles and a few order delays in the third quarter have already impacted Beta Systems’ performance. As of now, we are unable to quantify the slow-down effect on our overall performance for the fiscal year 2001. We have intensified our turnaround efforts but believe it will be harder to achieve the strong results of the fourth quarter 2000, which were the best in Beta Systems’ history. “That said, our core business of Data Center Management is proving to be the backbone of Beta Systems’ expansion into new business areas, showing a strong growth rate of over 25% in the third quarter and solid bottom line profits. We are confident we will continue to be the vendor of choice in the data center consolidation process. Cost reduction is the main selection criteria for our customers and the top selling point every time a Beta product is selected over its competition. In the business unit Document Management we have reached an important milestone this quarter, for the first time, one single organization has licensed to our entire Vididoc Suite of products. Furthermore, Storage Management is more important than ever and we expect to grow that business once IT demand in North America returns to normal levels.” Mr. Veigel concluded: “We feel confident that Beta Systems has taken and will take the right measures to cope with the current and future market and business demands.” Conference Call Review and explanations of the third quarter 2001 results will be given by the management board in a conference call on November 12, 2001 at 10.00 CET: Dial-in number: +49 (0)6074 8643 (access code: “Beta Systems”) In addition, there will be an instant replay service available for 24 hours following the call. The instant replay telephone number is +49 (0)6074 864555. The full quarterly report is published under http://www.betasystems.com. Contact: Investor Relations Arne Bassler Beta Systems Software AG Tel.: +49 (0)30 726 118 -170 Fax: +49 (0)30 726 118 -881 e-mail: arne.bassler@betasystems.com ——————————————————————————– WKN: 522 440; Index: Listed: Neuer Markt Frankfurt und im Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart 120730 Nov 01