HELSINKI, Finland, Nov. 14, 2002 (PRIMEZONE) -- Proha Plc:
- The Proha Group's net result for January-September 2002 was EUR -0.7 million, an increase of EUR 7.3 million compared to the corresponding period in 2001 (EUR -8.0 million) - Earnings before interest, taxes, depreciation and amortization (EBITDA) was EUR 0.1 million (1-9/2001 EBITDA EUR -4,6 million). Operating result (EBIT) was EUR -0.2 million (EUR -7.8 million) - Cost savings and streamlining of operations improved profitability - The Proha Group's net sales for January-September 2002 amounted to EUR 59.8 million (EUR 60.4 million, 1-9/2001) - Net sales and operating result were in line with the expectations despite the challenging situation in the software market. Development of profitability and sales during the third quarter reflect seasonal fluctuations typical for the business of the Group. - During the nine-month period, customers acquired a total of 61,000 end-user licenses from Proha. The number of licenses sold from January to September in 2002 exceeds the total number of licenses sold in 2001 (58,000 licenses) - After the nine-month period, Proha has continued to focus on international software business in line with its strategy by agreeing to sell its financial management and software testing business operations - Proha management's estimate for the operating result in 2002 remains unchanged. In addition, divestments and business arrangements are expected to strengthen the result by EUR 2 million - Artemis released its quarterly report, prepared under U.S. GAAP, on Wednesday November 13, 2002
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