CIMdata PLM Industry Summary Online Archive
26 March 2009
Financial News
Sopheon Preliminary Audited Results For The Year To 31 December 2008
Sopheon plc, announced its results for the year ended 31 December 2008 together with an outlook for the current year. Sopheon shares are traded on AIM in London and on Euronext Amsterdam.
HIGHLIGHTS:
Revenue for the year was £9.3m (2007: £6.3m). All territories grew strongly and the Vision Strategist solution acquired with Alignent contributed 13% of revenues. Full year revenue visibility for 2009 already stands at £5.4m.
The EBITDA result for the year was a profit of £1.1m (2007: £113,000). The Group generated a maiden profit before tax of £44,000 (2007: loss of £443,000).
We closed 53 new license orders and extensions during the year, and grew our customer base to 157 licensees for our core software platforms. Our recurring revenue base coming into 2009 was £3.7 million compared to £2.6 million at the start of 2008. Existing customers contributed over 60% of revenue for the second year in a row.
The combination of Accolade and Vision Strategist is the first in the industry to integrate and synchronise product planning and product development execution. Four product releases were completed during the year, two for each product. Sopheon can now bring immediate value to recession-plagued companies that need to reduce costs, without undercutting their prospects for long-term growth.
Barry Mence, Chairman, commented: “We are very proud to deliver such material progress in 2008. Our solutions are ideally placed to support major companies in their efforts to maintain strategic investment in innovation, while containing costs during these turbulent times. However, that same market turbulence makes it hard to predict our own business development in 2009 and we will adopt a cautious stance with respect to our own cost base.”
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