PARIS, Oct. 24, 2001 (PRIMEZONE) -- Linedata Services (Paris Stock Exchange:LDSV) reported third-quarter sales of E20.1 million, up 38.2% as previously forecast. Sales for the first nine months of 2001 amounted to E58.7 million, an increase of 53.2%. Like for like, the increase is 15%, in line with the company's expectations. The Asset Management division accounted for 55% of the total, Employee Savings for 22% and Credit Finance for 23%. More than 65% of business stems from operations as an application services provider (ASP).
Major marketplace advances
Third-quarter business activity continued at a sustained pace across all sectors.
In asset management, Dexia-BIL and Nikko Bank chose the Spice middle-office risk measurement application, putting their seal of approval on this demand-responsive product. In addition, one of Canada's top asset managers has just acquired the Longview front-office product -- a decision that confirms the strategic nature of Linedata's acquisition of LongView Group Inc. in March.
In credit finance, leasing and full-service leasing, Linedata Services continues to distribute the Ekip application internationally, notably to the Austrian, Polish, and Swiss subsidiaries of Renault Credit International.
In employee savings, several major French companies, including EADS, Lagardere and Pechiney, have chosen Linedata Services to manage their employee-only rights issues.
Confirmation of 2001 projections
Based on the nine-month sales figures and the high level of recurring ASP billings, Linedata Services confirms once again with confidence its 2001 targets, namely an operating margin of more than 15% on sales of E77 million, up 43.4%
LINEDATA SERVICES
Under the guidance of its chairman, Anvaraly Jiva, Linedata Services has become a key European player in the financial data processing market. As a software publisher, solutions integrator and operating services provider, Linedata Services has a full product offering for the finance industry. The company reported sales of E53.7 million in 2000, up 48.7% year on year. Linedata Services was listed on the Nouveau Marche of Euronext Paris in May 2000.
For more information, visit www.linedata.com
E million 9 months, 9 months, Change
2000 2001
Sales 38.3 58.7 +53.2%