Company Continues to Execute Its Plan, Excels in an Uncertain Market
CHICAGO, IL – February 27, 2003 – SSA Global Technologies Inc.™, (SSA GT™), a leading global provider of extended enterprise solutions and services, today announced its second quarter 2003 earnings. For the quarter ended January 31, the company reported total revenue of $64 million, an increase of 55 percent over the second quarter of fiscal 2002. Software license revenues were up 53 percent to $20.4 million, representing 32 percent of total revenue.
Second quarter earnings before interest, taxes, amortization (EBITA) and before nonrecurring charges were $14.6 million, or 23 percent of total revenue. Cash flow before debt service was in excess of $22 million.
In the second quarter, North America delivered 47 percent of total revenue while Europe, Middle East and Africa (EMEA) accounted for 30 percent. The emerging growth markets in Latin America and Asia-Pacific/Japan provided the remaining 23 percent of total revenue. New customers accounted for 20.5 percent of software license revenue.
The results reflect one month of activities following the Infinium Software, Inc. acquisition, which was completed on December 20, 2002.
“SSA GT continued to execute its strategic objectives in an outstanding manner during uncertain economic times,” said Mike Greenough, president, chairman and CEO of SSA GT. “Strong license revenues, renewed customer commitments and continued positive cash flows demonstrate the market’s acceptance of the SSA GT value proposition.”
Greenough said the company is on-track to meet its previously disclosed FY2003 revenue target of $281 million, which represents an increase of more than 50 percent from the prior fiscal year.
About SSA Global Technologies
SSA Global Technologies, Inc. is a leading provider of enterprise solutions for process manufacturing, discrete manufacturing, consumer, services and public companies worldwide. SSA GT delivers integrated e-business solutions including business intelligence, customer relationship management (CRM) and supply chain management (SCM) applications. Headquartered in Chicago, SSA GT has 121 worldwide offices serving more than 10,000 customers that represent market-leading companies in over 90 countries. For additional information, visit the SSA GT web site at http://www.ssagt.com
SSA Global Technologies and SSA GT are trademarks of SSA Global Technologies, Inc. Infinium Software, Inc. is a wholly owned subsidiary of SSA Global Technologies, Inc. All copyright, registration and trademarks for BPCS, PRMS, MAX International, KBM, MK, MANMAN, Warehouse BOSS, CAS, Masterpiece, MAXCIM, interBiz and Infinium are owned by SSA Global Technologies, Inc. Other products mentioned in this document are registered, trademarked or service marked by their respective owners.
Forward Looking Statements
These materials may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Statements in this press release or otherwise attributable to SSA GT regarding the business which are not historical fact, including those regarding forecasted revenue, earnings, cash flow and liquidity and the future prospects of its business, are “forward looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any “forward-looking statements” in these materials are subject to certain risks and uncertainties that could cause actual results to differ materially from those stated.
Any statements that are not statements of historical fact (including without limitation statements to the effect that SSA GT or its management “believes,” “expects,” “anticipates,” “plans,” “looks forward” and similar expressions) should be considered forward-looking statements. Many important factors could cause SSA GT's actual results to differ materially from those expressed in the forward-looking statements made by or on behalf of SSA GT, including, without limitation, the size and timing of license transactions, the effect of economic conditions on the spending patterns of SSA GT's customers, the impact of competitive products and services, the effect of fluctuations in the economy and local currency, the ability of SSA GT to accurately forecast revenue, the ability to maintain adequate cash flow, the ability to maintain a satisfactory credit facility, the relationship between SSA GT and its affiliates and suppliers, the ability to manage costs and expenses, the availability of qualified resources, the ability to develop and enhance products, and other unknown risks including those as may be detailed in other SSA GT filings, reports and releases.
SSA GT undertakes no obligation to revise or publicly update these forward-looking statements, whether as a result of new information or otherwise.
For press inquiries, contact:
Samantha Kay/Nicole Harvey/Richard Moss
Tel: 020 7344 1200
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