7th May 2009 07:00
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 improvethe financial return from innovation and product development investments,announces its first interim management statement for the period since 1 January2009 to the date of this announcement, in line with the requirements of the EUTransparency 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 licenseorders. The total licensee base now stands at 162. Recurring revenues frommaintenance, hosting and rental licenses now stand at £4 million compared to £2.8 million a year ago. Overall business from existing customers continues togrow, reflected also in license extensions and additional services work.Revenue visibility for the full year from contracted business and recurringrevenue 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 cutcosts without jeopardising their strategies for growth; but we are operating ina worldwide economic climate unlike any in our Company's history. Analystresearch shows moderating growth projections for almost all categories ofsoftware. We feel fortunate that our sales pipeline remains strong. However, itis difficult in the current conditions to predict the timing and value ofindividual sales, leading to continued unpredictability in businessperformance. 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 productdevelopment through these tough times; protecting the advantages that underpinour history of success, and positioning Sopheon to accelerate out of thedownturn and emerge with increased competitive strength when markets recover.Accordingly, since the end of last year we have increased the size of ourproduct development team. At the same time we have reduced and reorganizedcertain operational groups. Based on these changes, our overall headcount hasgone 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 SopheonSopheon is an international provider of software and services thathelp organisations improve the business impact of product innovation. Sopheon'ssolutions automate and govern the innovation process, enabling companies toincrease revenue and profits from new products. Sopheon is listed on the AIMMarket of the London Stock Exchange and on the Euronext in the Netherlands. Formore information, please visit www.sopheon.com.
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