InVision Software AG: Financial Statement for the First Three Months of 2012

  • Second-best Q1 results since the Company’s foundation
  • Revenues of EUR 3.2 million
  • EBIT equalled EUR -0.4 million

Today, InVision Software AG (ISIN: DE0005859698) confirmed its preliminary results for the first three months of the current fiscal year, which were previously published on 23rd April 2012. Despite a 14 percent decrease in revenues to EUR 3.2 million (3M 2011: EUR 3.7 million), the Company reported its second-best Q1 results since InVision was founded. The declining total revenues are almost exclusively attributed to the decrease in services revenues by 45 percent from EUR 1 million, generated in the first three months of 2011, to EUR 0.6 million in the first quarter of 2012. Against that, revenues from software and subscriptions remained almost unchanged at EUR 2.6 million, compared to the same period last year.

The reason for the decreasing services revenues is the current transition of the business model to cloud computing, which is progressing as scheduled and will be completed during the second half of 2012. In this transformation process, one-off licence revenues and project services are gradually being replaced by subscriptions to cloud computing services. As a result, time and effort, as well as revenues from implementation services, are reduced.

As of the end of the first quarter of 2012, earnings before interest and taxes (EBIT) equalled EUR -0.4 million, compared to EUR +0.1 million reported for the same period last year. As of 31st March 2012, liquid funds increased by 55 percent to EUR 2.6 million (31st December 2011: EUR 1.7 million), specifically due to payments received from the sale of software licences and subscriptions as well as maintenance contracts. In contrast, the annual cost basis excluding amortisation and depreciation could be further reduced by EUR 0.4 million to EUR 12.5 million, as of 31st March 2012. This corresponds to a decrease of 3 percent (31st December 2011: EUR 12.9 million).

The complete financial report for the first three months of 2012 is available now for download fon this website, in the section ‘Financial Reports’.