Cision AB (publ) Interim report January-March 2009, May 6 2009.STOCKHOLM, Sweden -- Regulatory News: Cision (STO:CSN CSN Crosby, Stills, and Nash (band) CSN Centrala studiestödsnämnden (Swedish: state education grant and loan program) CSN Confédération des Syndicats Nationaux (French) ): Weak quarter for divested Nordic units * The Group's operating revenue operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. amounted to SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 460 million (443). Organic growth was negative at -8 percent (-4). Exchange rate effects increased revenue by SEK 62 million. * Operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. amounted to SEK 9 million (31), and profit before tax was SEK -19 million (17). Earnings per share were SEK -0.41 (0.10). * Operating profit excluding restructuring costs amounted to SEK 18 million (37), and the operating margin Operating Margin A ratio used to measure a company's pricing strategy and operating efficiency. Calculated by: was 3.9 percent (8.4). Exchange rate effects had a positive impact on operating profit by SEK 9 million. Excluding the Nordic business units divested during the quarter, the Group's first quarter operating profit excluding restructuring costs would have been approximately SEK 32 million. * Operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. amounted to SEK 27 million (18). Free cash flow amounted to SEK -8 million (-18). * Increasingly, the recession impacted most of Cision's markets, resulting in negative organic growth for the quarter. * During the quarter, Cision renegotiated some of the terms for its syndicated loan Syndicated Loan A very large loan in which a group of banks work together to provide funds for one borrower. There is usually one lead bank that takes a small percentage of the loan and syndicates the rest to other banks. Notes: Also known as a "syndicated bank facility. facility, adjusting some of the loan covenants and reducing the facility limit. Comment by Cision CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Hans Gieskes: "During the first quarter of 2009, the Monitor and Analyze businesses in Denmark, Norway and Sweden experienced further decline in demand with significant losses as a result. We successfully divested these business units during the quarter and the remaining Nordic business units were all profitable. We therefore expect the Nordic region to return to profitability for the rest of the year. Moreover, excluding the Nordic business units divested, the operating profit before restructuring charges for the group would have been approximately SEK 32 million for the first quarter. In our largest European markets, Germany and the UK, the impact of the recession increased with weak quarterly results as a consequence. In order to improve profitability in these markets, we will continue to focus our efforts on reducing costs while rolling out CisionPoint to strengthen the competitiveness of our offering. In North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , we also noted a decrease in demand compared with the previous quarter, which particularly hurt our transaction-related revenue from Monitor services. Therefore, significant cost reductions have been implemented to protect our margins during the rest of the year. We believe that improved cost efficiency as well as continued successful migration of current clients to CisionPoint will allow us to mitigate the effects of the recession in North America during 2009." Cision empowers businesses to make better decisions and improve performance through its CisionPoint software solutions for corporate communication and PR professionals. Powered by local experts with global reach, Cision delivers relevant media information, targeted distribution, media monitoring, and precise media analysis. Cision has offices in Europe, North America and Asia, and has partners in 125 countries. Cision AB Cision AB, formerly known as Observer AB, is a Reputation Management and Media Intelligence firm for corporate clients. They consult on communications processes, marketing, public relations and investor relations. Their head office is located in Stockholm, Sweden. is quoted on the Nordic Exchange with a turnover of SEK 1.8 billion in 2008. Cision AB (publ) SE-114 88 Stockholm, Sweden Telephone: +46 (0) 8 507 410 00 www.cision.com This information was brought to you by Cision http://www.cisionwire.com |
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