6 May 2010 07:00
Thursday 6 May 2010 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 January2010 to the date of this announcement, in line with the requirements of the EUTransparency Directive.Sopheon has continued to add business since the end of last year, building onthe improved performance of the fourth quarter. Since the start of 2010, wehave closed 12 new and extension license orders. Business from existingcustomers continues to hold up well. Revenue visibility for the full year fromcontracted business and recurring revenue streams now stands at £5.6 million,compared to £4.8 million on 24 March, the time of our last update. Totalreported revenue for 2009 was £8.3 million. Operating costs before R&Dcapitalization were approximately £0.5 million lower in the first quarter of2010 compared to the first quarter of 2009, reflecting the fact that costadjustments taken last year took effect in the second quarter. Gross cashresources at the end of the first quarter of 2010 stood at £1.7 million.The market is responding favourably to the new product enhancements that weintroduced in 2009. Since the start of the year we have continued to innovateand deliver new solutions. Most recently, we announced the launch of www.isustain.com in partnership with Cytec Industries and the Beyond BenignFoundation. The site enables users to assess the sustainability of productformulations through an iSUSTAIN Green Chemistry Index rating, which can beindependently certified if required. Users that wish to migrate beyond a basiclevel of interaction with the site will be required to enter into paid-forsubscriptions.Our sales pipeline continues to show encouraging activity, and suggests aresurgent appetite amongst large corporations to make positive purchasedecisions where they perceive real business benefits. Predicting the timing andvalue of individual sales remains challenging, which can inevitably impact onthe business performance. However, major analyst organisations like Forrester,Gartner and IDC continue to see growing traction and opportunity in our chosenmarket. In December 2009, Forrester noted increasing interest and investment inproject and portfolio management tools for product development (PPM) and in thesame month Gartner noted that software that supports product strategy andplanning is gaining attention as a segment of the product lifecycle management(PLM) software market. Forrester also identified Sopheon as one of the clearmarket share leaders in the PPM space.
For further information contact:
Barry Mence, Chairman Sopheon plc Tel : + 44 (0) 1483 685 735 Arif Karimjee, CFO Sopheon plc Tel : + 44 (0) 1483 685 735 Justine James / Hansard Communications Tel : + 44 (0) 20 7245 1100 Kirsty Corcoran Floor van Maaren Citigate First Financial Tel : + 31 (0) 205 754 010 Catherine Leftley / Seymour Pierce Corporate Tel: +44 (0) 20 7107 8000 Jonathan Wright Finance 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's solutions are used byindustry leaders throughout the world, including BASF, Cadbury, Corning,Electrolux, Honeywell, Motorola and SABMiller. 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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