1st May 2008 07:01
Micro Focus International plc01 May 2008 1 May 2008 Micro Focus announces pre-close update on trading ahead of expectations Micro Focus International plc ("Micro Focus" or "the Group", LSE: MCRO.L), theEnterprise Application management and modernisation software company, provides apre-close update on trading for the twelve months to 30 April 2008, ahead ofexpectations. At the time of the Q3 IMS on 12 February 2008, Micro Focus stated that secondhalf year revenues were expected to marginally exceed first half year revenues(1H08: $108.9m). Following a strong fourth quarter, second half revenues havefurther exceeded expectations. Total revenues for the full year are expected tobe in the range of $226 million to $228 million. These expected results reflecta combination of improved operational performance and the positive impact ofexchange rate movements. Micro Focus expects to report underlying organicgrowth, at constant currency, for the period of approximately 15%. In line with previous guidance, EBITDA margins are expected to be maintained ata broadly consistent level in the second half to that of the first half (1H08:38.4%), resulting in an EBITDA margin for the year slightly higher than that ofthe prior year (FY2007: 38.0%) The Company's closing cash position at 30 April 2008, is expected to beapproximately $92 million. Stephen Kelly, Chief Executive Officer of Micro Focus International plc,commented: "We are pleased with the progress achieved in the year across the Group and thesolid level of organic growth. In particular we are encouraged by theoperational outperformance and sustained margin performance in the second half." Further details will be provided at the preliminary results for the twelvemonths ended 30 April 2008, on Friday 27 June 2008. In a separate release today, Micro Focus has announced a recommended cash offerfor the entire issued and to be issued share capital of NetManage, Inc. theNASDAQ-listed software provider of technologies to transform core applicationsinto new Web-based business solutions. Enquiries: Micro Focus Tel: +44 (0)1635 32646Stephen Kelly, Chief ExecutiveNick Bray, Chief Financial Officer Financial Dynamics Tel: +44 (0)20 7831 3113Harriet KeenHaya ChelhotHazel Stevenson Notes to editors: About Micro Focus Micro Focus (LSE: MCRO.L), is a London Stock Exchange-listed software companyheadquartered in the UK which provides innovative software that allows companiesto dramatically improve the business value of their enterprise applications.Micro Focus Enterprise Application Modernisation and Management software enablescustomers' business applications to respond rapidly to market changes andembrace modern architectures with reduced cost and risk. For additionalinformation please visit www.microfocus.com. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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