10 Jun 2008 07:00
Embargoed Release: 07:00hrs Tuesday 10 June 2008
SOPHEON PLC (`Sopheon') AGM Statement
At the Annual General Meeting of Sopheon plc to be held later today, the chairman of the board will give shareholders an update and review of the business. This will include the following statement:
"As noted in our annual report, 2007 was a year of steady progress. Revenues grew to ‚£6.3 million, and we achieved a positive EBITDA result for the second year running. In the first months of 2008, we have continued to move forward.
Although our revenue growth in 2007 was modest compared to 2006, I am pleased to announce that today, revenue visibility from contracted business and recurring streams for the full 2008 year already stands at ‚£5.7 million. Furthermore our sales funnel is very active with additional sales closures expected in the current quarter.
Last year we broke through our internal goal of 100 customers for our core software platforms. Including new customers secured through the acquisition of Alignent, by year-end we had 135 licensees. Our recurring revenue base coming into 2008 was ‚£2.6 million compared to ‚£1.7 million at the start of 2007. Today, we have 148 licensees and a recurring revenue base of ‚£2.9 million.
In 2007 we acquired Alignent Software, extending our solution to integrate and synchronize product planning and product development execution - an industry first. The acquisition also brought Sopheon immediate credibility in the aerospace, defense and high-tech markets.
At the turn of the year we introduced the most significant new release of Accolade in six years, offering functionality that positions the product for the heavy manufacturing markets. AMR Research recently identified Sopheon as the most mature product portfolio management offering in the market today.
We have yet to see a major impact on our market from uncertainties in the global economy. Accordingly, whilst we exercise a degree of caution in our business management and investment decisions, we remain positive about the outlook for the remainder of the year."
For further information contact:
Barry Mence, Chairman Sopheon plc + 44 (0) 1483 685 735 Arif Karimjee, CFO Vikki Krause Hansard Communications + 44 (0) 207 245 1100 + 44 (0) 7957 203 685 Claire Verhagen Citigate First Financial + 31 (0) 205 754 010 David Newton Seymour Pierce + 44 (0) 207 107 8000 About Sopheon
Sopheon is an international provider of software and services that help organizations improve the business impact of product innovation. Sopheon's solutions automate and govern the innovation process, enabling companies to increase revenue and profits from new products. Sopheon is listed on the AIM Market of the London Stock Exchange and on the Euronext in the Netherlands. For more information, please visit www.sopheon.com.
vendor