IFS Sales Up 148%.TUCSON, Ariz.--(BUSINESS WIRE)--May 19, 1998--IFS Industrial & Financial Systems, which is listed on the Stockholm Stock Exchange's O List, reported sales of $29M during the first quarter of 1998, an increase of 148% compared with the same period last year. The number of employees rose by 99% to 1,283. The company reported a loss of $2M, an improvement compared with the loss of $3.6M for the same period last year. "Our strong expansion is connected to the market success reaped by our business administration system, IFS Applications," said 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. Bengt Nilsson. "The international market accounts for a large portion of the increase in revenue during the period," he continued. "We are currently represented in 29 countries. Our industry-specific solutions are one of the main reasons for our successful international expansion. These solutions alone have resulted in a total of 50 new orders throughout the world." IFS' sales in markets outside Sweden accounted for 57% of total sales. The company's license revenues rose 185% to $8.8M. License revenue now accounts for 30% of total sales. Product development expenses during the first quarter of 1998 amounted to $5M, of which $1M was capitalized. The new version of IFS Applications will be launched during the second quarter. "IFS will show continued strong growth in 1998, on a par with results for the full-year 1997," said Nilsson. "Initial economies of scale and greater focus on earnings growth are expected to yield higher earnings in 1998." The growth rate for the 1997 fiscal year was 77%. About IFS and IFS Applications Industrial & Financial Systems, IFS AB, develops and supplies IFS Applications, which is a complete Enterprise Resource Planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. (ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. ) system for business processes in medium- and large-size companies. It covers design, manufacturing, distribution, financials, maintenance management, resource management and engineering. IFS business strategy is to increase the freedom of action and competitiveness of companies by offering standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. business systems based on leading technologies. IFS Applications is one of the first business systems in the market developed entirely by using object technology. IFS Applications is based on a thoroughly applied component concept. It can be readily adapted to the needs of individual customers and is equipped to handle the Y2K See Y2K problem and Y2K compliant. Y2K - Year 2000 compliance issues and the introduction of the Euro The introduction of the euro took place principally between 31 December 1998, when the exchange rates between the euro and legacy currencies in the Eurozone became fixed, and early 2002, when euro notes and coins were introduced and the legacy currencies withdrawn. . IFS is one of the world's fastest-growing companies in the ERP and maintenance software market. IFS has more than 1,200 employees and its products are sold in 29 countries around the world. Some of the more than 850 major customers include Volvo, NEC (NEC Corporation, Tokyo, www.nec.com, www.necus.com) An electronics conglomerate known in the U.S. for its monitors. In Japan, it had the lion's share of the PC market until the late 1990s (see PC 98). NEC was founded in Tokyo in 1899 as Nippon Electric Company, Ltd. , Akzo Nobel Akzo Nobel is a multinational company, active in the fields of healthcare products, coatings and chemicals. Headquartered in Amsterdam, the Netherlands, the company has activities in more than 80 countries, and employs approximately 62,000 people. , Caterpillar caterpillar (kăt`əpĭl'ər, kăt`ər–), common name for the larva of a moth or butterfly. Caterpillars have distinct heads and are segmented and wormlike. , Saab, Nikon, Kimball, Allied Signal, Ericsson, and Timberjack. -0- Note to Editors: IFS Applications is a trademark of IFS Industrial and Financial Systems. All other referenced company or product names are trademarks or registered trademarks of their respective owners. CONTACT: IFS Industrial & Financial Systems Manni Svensson, 46-13-201-500 masv@lkp.ifsab.se John Bridges John Bridges may refer to:
jbridges@ifsna.com or Samluk Communications Inc. Donna Samluk, 925/736-8166 dsamluk@samluk.com |
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