13th Feb 2009 07:05
Embargoed for 7.00am, Friday 13 February 2009
Q3 Interim Management Statement
Micro Focus International plc ("Micro Focus" or "the Group", LSE: MCRO.L), the Enterprise Application Management and Modernisation software company, provides an Interim Management Statement for the three month period to 31 January 2009.
Following a solid third quarter, the trading outlook across the Group remains in-line with management expectations. The Group reiterates guidance that second half-year revenue from the core business will remain broadly similar to the first half-year and reiterates that with the benefit of a full six month contribution from the two recent acquisitions, total revenues in the second half-year are expected to marginally exceed those in the first half.
The first half EBITDA margin was 42.7% and the Group reiterates its ambition to achieve an EBITDA margin of approximately 40%.
During the period, the $9.7m acquisition of Relativity Technologies Inc was announced on 8 December 2008 with completion announced on 5 January 2009. Relativity Technologies Inc provides complementary technology to Micro Focus' core business, especially in the Application Modernisation and Assessment market. The integration is progressing well and the Group expects this acquisition to be earnings enhancing in its first full financial year.
Stephen Kelly, Chief Executive Officer of Micro Focus International plc, commented:
"We are encouraged by the progress made across the Group in our third quarter. We continued to meet customers' cost reduction needs, and we saw good momentum in our application modernisation businesses. The integration of the recent acquisition of Relativity Technologies is progressing well, and further acquisition opportunities exist to support our strategy and supplement our organic revenue growth."
Enquiries:
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Micro Focus |
Tel: +44 (0)1635 32646 |
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Stephen Kelly, Chief Executive Officer |
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Nick Bray, Chief Financial Officer Tim Brill, Head of Corporate Communications & IR |
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Financial Dynamics |
Tel: +44 (0)20 7831 3113 |
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Charles Palmer |
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Haya Chelhot |
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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