Sales grow by 14 percent, strong cash flow and increased profit
· Sales for January-March increased by 14% to SEK 146.5 (129.1) million
· Operating profit EBITDA for the period increased to SEK 2.9 (-3.2) million
· Earning per share after tax for the first quarter were SEK -0.27 (-0.28)
· Cash-flow from operating activities for the period was SEK 42.8 (23.7) million
"Our sales growth for the first quarter of 2009 was 14 percent and the operating profit EBITDA improved by SEK 6.1 million compared to the same period last year. The cash flow from continuous business operations almost doubled to SEK 42.8 (23.7) million. All our geographic markets show organic growth in local currencies. The speed of growth varies however, between the individual markets.
The current market state has a negative influence on us, however, we sell products that offer considerable cost savings, and that is an advantage in the prevailing situation. Favorable currencies rates have also been helped along during the most recent period.
All in all, we are pleased with the way 2009 has started and are optimistic about the possibility for continued growth throughout the year. Our objective is to continue to improve our results, to win market shares and to capitalize on those opportunities that a weaker market could present."
President and CEO
For further information please contact:
Jan Andersson, President and CEO
Phone: +46 708-37 66 00
Jonna Opitz, Vice President Corporate Communications
Phone: +46 42-490 21 08 or +46 733-37 86 68
Jan Bertilsson, CFO
Phone: +46 42-490 21 43
ReadSoft is a leading global provider of software solutions for Document Automation. ReadSoft's software enables companies to automate document processes such as data entry, classification, ERP matching, workflows, e-invoicing etc. The results are faster and less expensive document processing, and increased control. ReadSoft is by far the world's number one choice for invoice automation solutions. Specialized solution labs for SAP, Oracle, Microsoft and Capture processes ensure cutting edge solutions with great customer value. Since the start in 1991, ReadSoft has grown to a worldwide group with operations in 16 countries on five continents and a network of local and global partners. The head office is located in Helsingborg, Sweden and the ReadSoft share is traded on the Nasdaq OMX Nordic Exchange Small Cap list. For more information about ReadSoft, please visit www.readsoft.com.
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