COPENHAGEN, Denmark, Nov. 6, 2006 (PRIMEZONE) -- Stock Exchange Announcement no. 24/2006
Summary
Today, Maconomy's Board of Directors has discussed and approved the Group's Interim Report for the 3rd Quarter of 2006. Highlights of the period include:
Maconomy achieved total revenue of DKK 40.4 million in the 3rd Quarter of 2006, corresponding to an increase of 22% compared with DKK 33.2 million in the 3rd Quarter of 2005.
This means that Maconomy continues the growth that was initiated in the 1st Half of 2006 although the level of growth was slightly lower in the 3rd Quarter. Total revenue year-to-date was at DKK 126.6 million compared with DKK 97.7 million in the same period in 2005 - a 30% growth. Pre-tax earnings were a loss of DKK 1.9 million in the 3rd Quarter of 2006 (Q3 2005: loss of DKK 2.1 million).
Compared with 2005, the pre-tax performance showed progress from a DKK 22.7 million loss in the first three quarters to a loss of DKK 8.6 million in 2006. Adjusting for one-off costs in the 1st half of 2005, it is still an improvement of the performance development from DKK 16.0 million loss to DKK 8.6 million loss at the same time as Maconomy has met its three-year growth target.
Liquid assets, including bonds, were DKK 53.9 million on September 30, 2006 compared with DKK 68.6 million the year before, a reduction of DKK 14.7 million over the past year. This is predominantly a result of the liquidity effect of the accounting loss, as well as an increase in accounts receivable resulting from the increased level of activity. Maconomy has no interest-bearing debt.
Maconomy's new product version, Maconomy X, was released as planned on September 1, 2006. This version includes among other things Maconomy AnalytiX with integration to Business Objects and new possibilities within reporting and business intelligence.
Management maintains its expectations for 2006 as announced in the 2005 Annual Report with license growth of more than 30% and total revenue growth of 20%, corresponding to revenue of DKK 170 million and a pre-tax loss of approximately DKK 10 million.
Please find attached file for the rest of the report: