Utimaco Software: Results of the First Quarter of the Fiscal Year 2002/2003
Results of the first quarter of the fiscal year 2002/2003
Restructuring on track
Continued business grown by 12 per cent
Gross profit on sales grown by 23 per cent
November 25, 2002 – In the first quarter (July – September) of the current fiscal year 2002/2003 Utimaco Safeware achieved a revenue of EURO 5.9 million. This revenue is the same as in the corresponding quarter of the previous year. By a growth of 12 per cent the continued business could compensate the revenue of EURO 600.000 that had been achieved by the given up business segments in the first quarter of the previous year.
Focussing on segments with high margins, the gross profit on sales increased by 23 per cent to EURO 4.2 Mio. (corresponding quarter of the previous year EURO 3.4 Mio.). The gross margin increased to 71 per cent compared to 58 per cent in the first quarter of the previous year.
Due to the cost reduction as a result of the restructuring of the company in the last fiscal year the operating loss (EBIT) of the traditionally weak first quarter was reduced to EURO -0.8 Mio. compared to EURO -4.0 Mio. in the previous period. The operative costs were reduced to EURO 6.3 (previous period EURO 9.8 Mio.).
On September 30, 2002 liquid assets amounted to EURO 1.7 Mio. (on June 30, 2002 EURO 1.9 Mio.) To enhance liquidity a silent partnership of EURO 800, 000 by the MBG H (Mittelst?¤ndische Beteiligungsgesellschaft Hessen) is appointed. The final decision on that investment will be part of the annual general meeting on November 28, 2002). For the entire fiscal year 2002/2003, a positive result and a positive cash flow are expected.
Utimaco Safeware AG is one of the leading manufacturers of professional IT security solutions. The security technology and solutions developed by Utimaco Safeware protect the electronic data of companies and government bodies against unauthorised access and guarantees that business processes and administrative procedures in the electronic world are binding and confidential.