InVision Reports Final Quarterly Results: Preliminary Figures For The First Nine Months Confirmed

InVision Software AG (ISIN: DE0005859698), one of the leading international provider of solutions for enterprise-wide workforce management, has confirmed the preliminary results for the third quarter and the first nine months, which were published on 7th November 2008. According to the final figures for the third quarter 2008, revenues fell to EUR 3.6 million compared to EUR 5.7 million reported in the same quarter in the previous year. Factoring in the EUR 1.2 million write-down of receivables, EBIT equalled EUR -2.6 million, down from EUR 2.3 million earned during the same period of the previous year. In the third quarter of 2008, net Group results totalled EUR -1.8 million compared to EUR 1.4 million earned in the same period last year.

For the first nine months of 2008, the Company reports revenues of EUR 8.7 million. During the same period in 2007, revenues were EUR 10.5 million. After net income was reported at EUR 1.3 million for the first three quarters last year, EBIT is now EUR -6 million for the first three quarters of 2008. The Group result after nine months in 2008 equalled EUR -3.8 million, whereas during the same period last year, the Group reported net income of EUR 1.7 million.

Given that overall economic development is currently very difficult to predict, InVision still does not feel that it is in a position to publish a very reliable forecast for the entire year. Since the Company has encountered an abrupt change in the investment behaviour of many of its customers, the Executive Board can currently not rule out a decline in revenue for the entire 2008 year and expects to report a net loss in the current business year. The Executive Board carries out forcefully the launched cost-reduction programme in an effort to improve the cost-to-income ratio in 2009.

The complete financial report for the first nine months of 2008 will be available for download on this website, in the section ‘Financial Reports’, on 28th November 2008.