3 May 2012 07:00
Embargoed Release: 07:00hrs Thursday 3 May 2012 |
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SOPHEON PLC
("Sopheon" or the "Company")
INTERIM MANAGEMENT STATEMENT
Sopheon plc, the international provider of software and services that improve the financial return from innovation and product development investments, announces its first interim management statement for the period from1 January 2012 to the date of this announcement, in line with the requirements of the EU Transparency Directive.
After the good start to the year which we highlighted in our 2011 results announcement, sales activities have continued to increase. Highlights for the year to date include:
14 new and extension license orders achieved, in addition to a number of substantial services engagements. Business from existing customers remains strong, and a number of new customers have also been won. Revenue visibility for the full year from contracted business and recurring revenue streams now stands above £6.5 million, compared to £6.1 million a year ago. We expect to close additional business in the second quarter from a mix of new and existing customers. Services business remains strong, already absorbing new hires made in the first quarter.
We advanced our market presence across Europe with the addition of two sales representatives, building on the recent appointment of Jim Conroy as our European commercial leader. These additional hires were made with due caution given that global markets have not yet regained their poise and accurate prediction of the timing and value of individual sales remains challenging.
A major product milestone was achieved with the release of Accolade 8.0, the latest version of our flagship software solution. This landmark release offers enhanced support for project portfolio management and collaboration, integration with Microsoft's SharePoint® technology and a mobile application designed for use with iPhone® and iPad®.devices. Other features deepen our software's ease-of-configuration and ease-of-use. Reflecting input from a number of high-profile customers, we believe Accolade 8.0 sets a new standard for agility in managing innovation.
On the corporate front, Sopheon is actively considering the transfer of its listing from the regulated market operated by NYSE Euronext in Amsterdam to its exchange-regulated market, NYSE Alternext in Amsterdam. This would enable the Company to benefit from certain tax exemptions which the Board believe will make it more attractive to specialist investment funds. It will also reduce the regulatory burden associated with a fully regulated market like NYSE Euronext which the Board and its advisers consider to be disproportionate to a company of Sopheon's size and resources. NYSE Alternext is a well-recognized market with over 180 companies listed, representing a combined market capitalization of €5.9 billion. Since NYSE Alternext uses the same trading platform as NYSE Euronext, no change is expected to the mechanisms by which shareholders can buy and sell Sopheon shares. A resolution will be put to shareholders in connection with this proposed transfer at the forthcoming Annual General Meeting of the company, to be held at the offices of Squire Sanders (UK) LLP, 7 Devonshire Square, London EC2M 4YH on 13 June 2012 at 11:00am.
Accolade® is a registered trademark of Sopheon plc. SharePoint® is a registered trademark of Microsoft Corporation. iPhone® and iPad®
are registered trademarks of Apple®
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 |
Charlotte Stranner/ Henrik Persson/ Victoria Bates | finnCap | Tel: +44 (0) 20 7600 1658 |
Guy McDougall/Heather Armstrong | Newgate Threadneedle | Tel : + 44 (0) 20 7653 9850 |
Claire Verhagen | Citigate First Financial | Tel : + 31 (0) 205 754 010 |
About Sopheon
Sopheon (LSE: SPE) is an international provider of software and services. Sopheon's solutions structure, align and manage innovation processes to help organizations generate more revenues and profits from new products. Sopheon's solutions are used by industry leaders throughout the world, including BAE Systems, BASF, Corning, Electrolux, Honeywell, Novartis and SABMiller. 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.