13th Aug 2008 07:00
Wednesday 13 August 2008
Q1 Interim Management Statement
Micro Focus International plc ("Micro Focus" or "the Group", LSE: MCRO.L), the Enterprise Application Modernisation software company, provides an Interim Management Statement for the three month period to 31 July 2008.
Following a solid first quarter, Micro Focus reiterates its ambition to realise double digit organic revenue growth at constant currency, whilst maintaining recently achieved EBITDA margins (2008: 38.8%).
During the quarter, ambitions for both organic revenue growth and EBITDA margins were achieved.
Good progress was made integrating the two acquisitions that closed in the period. The acquisition of NetManage Inc. which closed on 18 June 2008 for $73.0m, provides complementary technology to Micro Focus' core business, especially in the Application Modernisation and Integration market. The acquisition of Liant Software Corporation, which closed on 11 July 2008, for $5.0m, expands Micro Focus' portfolio of Enterprise Application Management solutions including, in particular, additional programming language capabilities such as PL/1.
Stephen Kelly, Chief Executive Officer of Micro Focus International plc, commented:
"We are encouraged by the progress made across the Group in our first quarter of trading. The integration of the recent acquisitions NetManage and Liant are progressing well and we have achieved solid organic revenue growth. Our key focus remains on organic revenue growth although further acquisition opportunities exist in support of our strategy."
Enquiries:
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Micro Focus |
Tel: +44 (0)1635 32646 |
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Stephen Kelly, Chief Executive |
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Nick Bray, Chief Financial Officer |
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Tim Brill, Head of Corporate Communications & IR |
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Financial Dynamics |
Tel: +44 (0)20 7831 3113 |
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Harriet Keen |
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Haya Chelhot |
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Hazel Stevenson |
Notes to editors:
About Micro Focus
Micro Focus, a member of the FTSE 250, provides innovative software that allows companies to dramatically improve the business value of their enterprise applications. Micro Focus Enterprise Application Modernization and Management software enables customers' business applications to respond rapidly to market changes and embrace modern architectures with reduced cost and risk. For additional information please visit www.microfocus.com.
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