14th Aug 2007 07:01
Micro Focus International plc14 August 2007 Embargoed for 7.00am, Tuesday 14 August 2007 Q1 Interim Management Statement Micro Focus International plc ("Micro Focus" or "the Group", LSE: MCRO.L), theEnterprise Application Modernization software company, today provides an InterimManagement Statement for the three month period to 31 July 2007. Following a successful first quarter, Micro Focus reiterates full year guidanceof achieving a similar level of revenue growth to the rate achieved in the yearto 30 April 2007 (19.4%) with EBITDA margins expected to remain at a similarlevel (38%). During the quarter, organic growth was achieved across all three revenuestreams; license, maintenance and consulting. Growth in the core business wasfurther enhanced by the impact of recent acquisitions. Customer wins included T-Systems, EDB, Texas State Department, and BNP Paribas. The acquisition of Acucorp Inc ("Acucorp"), announced 4 May 2007, for $40.7m,provides technology that is highly complementary to Micro Focus' core businessin the Application Development space as well as providing the opportunity forMicro Focus to expand its reach into the small and medium-sized enterprise ("SME") markets. Both the speed of integration and financial results from thisacquisition are ahead of our original expectations. We expect a meaningfulcontribution to both revenues and profits in the year ahead as a result of thisacquisition. 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 oftrading. We have achieved solid revenue growth with consistent margins ascompared to the prior year period. Our first quarter of trading underpins ourprevious full year guidance that revenue growth and margins for the currentfinancial year are expected to be similar to those achieved in the year to April2007. Management's emphasis will continue to be on licence fee sales to driveprofitable growth. We are confident that a robust and sustainable market existsto support our growth strategy. Our key focus remains on organic growth." Enquiries: Micro Focus Tel: +44 (0)1635 32646Stephen Kelly, Chief ExecutiveNick Bray, Chief Financial Officer Financial Dynamics Tel: +44 (0)20 7831 3113Harriet KeenHaya Chelhot Notes to editors: About Micro Focus Micro Focus, a member of the FTSE 250, provides innovative software that allowscompanies to dramatically improve the business value of their enterpriseapplications. Micro Focus Enterprise Application Modernization and Managementsoftware enables customers' business applications to respond rapidly to marketchanges and embrace modern architectures with reduced cost and risk. Foradditional information please visit www.microfocus.com. About Acucorp Inc. Acucorp provides innovative technologies for the modernization and enhancementof business-critical applications. In addition to both modernizing and enhancingexisting assets, Acucorp's innovative software solutions provideinteroperability and portability to more than 600 different computing platforms.The company, founded in 1988, has headquarters in San Diego, California,regional offices throughout Europe and distributors around the world. Foradditional information please visit www.acucorp.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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