Embargoed Release: 07:00hrs Thursday 7 May 2009
SOPHEON PLC
("Sopheon" or the "Company")
INTERIM MANAGEMENT STATEMENT
Sopheon plc, the international provider of software and services that improve
the financial return from innovation and product development investments,
announces its first interim management statement for the period since 1 January
2009 to the date of this announcement, in line with the requirements of the EU
Transparency Directive.
Sopheon's strong performance in 2008 carried through to the end of the year.
Since the start of 2009, we have closed a total of 13 new and extension license
orders. The total licensee base now stands at 162. Recurring revenues from
maintenance, hosting and rental licenses now stand at £4 million compared to
£2.8 million a year ago. Overall business from existing customers continues to
grow, reflected also in license extensions and additional services work.
Revenue visibility for the full year from contracted business and recurring
revenue streams, now stands at £6 million; total reported revenue for 2008 was
£9.3 million. Gross cash resources at the end of the first quarter stood at
£2.3 million.
Our solutions offer compelling value to companies faced with the need to cut
costs without jeopardising their strategies for growth; but we are operating in
a worldwide economic climate unlike any in our Company's history. Analyst
research shows moderating growth projections for almost all categories of
software. We feel fortunate that our sales pipeline remains strong. However, it
is difficult in the current conditions to predict the timing and value of
individual sales, leading to continued unpredictability in business
performance. Nevertheless, the market for our solutions continues to mature,
the competition continues to evolve, and new opportunities continue to arise.
We therefore believe that it is essential to sustain our investment in product
development through these tough times; protecting the advantages that underpin
our history of success, and positioning Sopheon to accelerate out of the
downturn and emerge with increased competitive strength when markets recover.
Accordingly, since the end of last year we have increased the size of our
product development team. At the same time we have reduced and reorganized
certain operational groups. Based on these changes, our overall headcount has
gone from 105 at the end of 2008 to a current total of 101 employees.
-Ends-
For further information contact:
Barry Mence, Chairman Sopheon plc + 44 (0) 1483 685 735
Arif Karimjee, CFO
Vikki Krause Hansard Group + 44 (0) 207 245 1100
+ 44 (0) 7515 922906
Claire Verhagen Citigate First Financial + 31 (0) 205 754 010
Paul Davies Seymour Pierce + 44 (0) 207 107 8000
About Sopheon
Sopheon (LSE: SPE) is an international provider of software and services that
help organisations improve the business impact of product innovation. Sopheon's
solutions automate and govern the innovation process, enabling companies to
increase revenue and profits from new products. Sopheon is listed on the AIM
Market of the London Stock Exchange and on the Euronext in the Netherlands. For
more information, please visit www.sopheon.com.