Day Reports Financial Results for First Quarter for Fiscal Year 2005; Company Delivers Strong First Quarter Revenues.BASEL, Switzerland -- Day Software (SWX SWX Swiss Exchange (trademark of SWX Swiss Exchange) SWX SolidWorks (3D solid modeling CAD software) SWX Splitter / Wave Division Multiplexer :DAYN), a leading provider of global content management and content infrastructure software, today announced financial results for the First Quarter of 2005. Highlights --12% total revenue increase as compared to the first quarter of 2004 --27% product revenue increase as compared to the first quarter of 2004 --CHF 0.3 million increase in gross profit margin Gross profit margin Gross profit divided by sales, which is equal to each sales dollar left over after paying for the cost of goods sold. gross profit margin A measure calculated by dividing gross profit by net sales. as compared to the first quarter of 2004 --Net income of TCHF 120 as compared to a net loss of TCHF 515 for the first quarter of 2004 --New major customers added in the first quarter of 2005 include Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. , Deutsche Bank and On Command. --Successful Beta launch of Company's new content infrastructure product line CRX CRX Civic Renaissance Model X (Honda automobile model) CRX Cone-Rod Homeobox-Containing Gene CRX Civic Renaissance Experimental (Honda) The Company experienced a record First Quarter, reporting a 12% growth in total revenue over the same period in 2004. Revenues for the First Quarter totaled CHF CHF In currencies, this is the abbreviation for the Swiss Franc. 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. 4.13 million, compared with revenues of CHF 3.68 million for the First Quarter of 2004. Product revenues increased by 27% over last year, totaling CHF 2.93 million, compared with product revenues of CHF 2.31 million for the same period last year. The Company increased its gross profit to CHF 3.04 million compared to CHF 2.69 million for the same period in the previous year. Net income for Q1 was TCHF 120 compared to a loss of TCHF 515 in 2004. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become was TCHF 395. "We are pleased with the solid result for the first quarter. This is a good basis for a healthy 2005," said Michael Moppert, 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. and Chairman of Day. "The Company has delivered the highest First Quarter year product revenue in its operating history. We have added new major blue chip customers, such as Credit Suisse First Boston (CSFB CSFB Credit Suisse First Boston CSFB Cyclically Shifted Filter Bank ), Deutsche Bank (DB) or On Command. With CSFB and DB we continued to strengthen our position in the financial services industry. At the same time we continued to work with existing industry heavyweights such as DaimlerChrysler and DHL DHL abbr. 1. Doctor of Hebrew Letters 2. Doctor of Hebrew Literature ." Credit Suisse First Boston chose Day Software's flagship product Communique to develop a worldwide enterprise system to provide CSFB employees with current internal information. Day Software is working with CSFB in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of to develop and deploy the system. Deutsche Bank's Enterprise Services Group in London selected Day's Communique as the new corporate Web platform for DB. On Command Corporation is the world's leading provider of interactive in-room entertainment, information and business services to the lodging industry. On Command chose Day's technology to provide one single, comprehensive platform for operations in more than 20 countries on five continents. Successful Beta Launch of New Product Line In addition to its continued growth in the global content management market, Day Software successfully launched the Beta version of its new content infrastructure product line CRX in the first quarter of 2005. CRX is the industry's first full implementation of JSR JSR Java Specification Request JSR J Sargeant Reynolds Community College (Virginia) JSR Journal of Sedimentary Research JSR Jump to Subroutine (6502 processor instruction) 170, the future standard for enterprise content. The Company reported over 500 downloads in the first 100 days of the launch, over a dozen Beta customers and the first commercial contract for the new product line. The Company expects that CRX has a similar market potential as its existing content management products. "We are excited about the excellent start of this launch. We have made substantial investments to initiate and lead JSR 170, the coming new global standard for Enterprise Content. We have developed our own products in parallel and are on track to position Day Software as the leader in the emerging market for Java Content Repositories and benefit from our investments. We are now getting ready for the final release of JSR 170 this summer to make the full version of our CRX product line commercially available. We believe that this expansion of our product portfolio will be an excellent basis for further growth," continued Moppert. JSR 170 is the coming standard that defines the interaction between a business application and the repository where the application stores content. Day Software had initialized this standard three years ago and is leading an international industry expert group that develops JSR 170. The JSR 170 initiative has gained the support of all major industry players such as IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Oracle, Sun or SAP. The final release of the standard is expected for Q2 2005. In parallel with the final release of the standard, Day Software will make a full commercial implementation of the standard available to the industry. Level I American Depositary Receipt American Depositary Receipt (ADR) Certificates issued by a US depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. Program (ADR ADR - Astra Digital Radio ) In parallel with its Q1 results, Day Software announced the launch of a Level I American Depositary Receipt Program. The Program enables the Company to register an American Depositary Receipt (ADR) with the Securities and Exchange Commission (SEC). Day is working with The Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. to establish and manage the ADR. "Based on continued wins of blue chip customers, our technology leadership that we demonstrated with JSR 170 and our highly innovative new product line, we are experiencing increasing interest from global technology investors. The U.S. has the largest amount of technology investors in our software sector and the Level I ADR is a first step to addressing this market," Moppert explained. The Level I ADR program does create only minimal additional reporting obligations, as Day Software is already reporting quarterly financial results according to USGAAP USGAAP United States Generally Accepted Accounting Principles . About Day (www.day.com) Day is a leading provider of integrated content, portal and digital asset management software. Day's technology Communique offers a comprehensive, rapidly deployable framework to unify and manage all digital business data, systems, applications and processes through the Web. Communique's content-centric architecture, and its innovative ContentBus, turns the entire business into a virtual repository bringing together content from any system, regardless of location, language or platform. Day is an international company, founded in 1993, and listed on the SWX Swiss Exchange SWX Swiss Exchange An all-electronic securities exchange formed from the 1995 merger of exchanges in Geneva, Basel, and Zurich. The exchange offers trading in equity securities, investment funds, exchange-traded funds, bonds, Eurobonds, and options. (SWX:DAYN) since April 2000. Day's customers are some of the largest global corporations and include Audi, DaimlerChrysler, Deutsche Post World Net, General Electric, Intercontinental Hotels Group InterContinental Hotels Group (IHG) (LSE: IHG NYSE: IHG) is a multinational company which operates several hotel brands. The largest hotel company by number of rooms (556,000 as of March 2007 [1]), its headquarters are in Windsor just outside Greater London and , McDonald's, UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System and Volkswagen. A Warning Regarding Forward-Looking Statements This press release may contain forward-looking statements regarding future events or the future performance of Day Software Holding AG and its subsidiaries (the "Company"). Words such as "anticipates," "expects," "intends," "plans," "believes," "may," "will," and variations of these words or similar expressions are intended to identify forward-looking statements. These statements speak only as of the date hereof. Such information is subject to change, and we will not necessarily inform you of such changes. Actual events or results, of course, could differ materially and adversely from those expressed in any forward-looking statement. We refer you to the "Risk Factors" section of the Company's Offering Circular, which can be downloaded from the "Investor Relations" section of the Company's Web site at www.day.com. The Company's Offering Circular contains and identifies important factors that could cause actual results to differ materially from those contained in any forward-looking statements. Among the important factors which could cause the Company's actual results to differ materially and adversely from such forward-looking statements are the intense competition in its industry, its need to stay on the forefront of technological development within its industry, and uncertainty regarding its future capital needs. The Company's stock is not listed on any United States stock exchange or market, and the Company does not make filings (e.g., Forms 10-K and 10-Q) with the Securities and Exchange Commission under the Securities Exchange Act of 1934. The complete Financial Results for First Quarter for Fiscal Year 2005 is on file with the SWX and is available from the Investor Relations section of our Web site at www.day.com. The English text of this press release represents the binding version. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion