25 Jan 2008 07:00
Embargoed Release: 07:00hrs Friday 25 January 2008
SOPHEON PLC ("Sopheon" or the "Group") TRADING UPDATE
Sopheon plc, the international provider of software and services that improve the financial return from innovation and product development investments, announces that it expects total revenues for 2007 to be of the order of ‚£6.3 million compared to just over ‚£6.0 million in 2006.
While emphasizing that the year-end close process is far from complete, and is complicated by the impact of the acquisition of Alignent, our initial workings indicate that the Group's EBITDA result will again come in around the breakeven level.
Sopheon's annual recurring revenue base has now grown to over ‚£2.5 million. Adding committed services business to this recurring base means that we entered 2008 with full year revenue visibility at ‚£3 million. Furthermore, in addition to new opportunities, a number of substantial transactions that were not closed in 2007 continue to progress well and we remain confident that they will complete in the first quarter of 2008.
Financial expectations noted above are subject to the completion of the year-end financial close and audit processes. Sopheon plans to issue its 2007 preliminary results on 27 March 2008.
Barry Mence, Chairman, commented:
"We had expected a stronger finish to 2007, but continue to anticipate substantial growth in our business. The acquisition of Alignent has bedded down well and has strengthened our strategic position. We have a great platform to build from, and continue to drive forward with determination and confidence."
-Ends-
For further information contact:
Barry Mence, Chairman Sopheon plc Tel : + 44 (0) 1483 685 735Arif Karimjee, CFO Andrew Tan Hansard Communications Tel : + 44 (0) 207 245 1100 + 44 (0) 7957 203 685 David Newton Seymour Pierce Tel : + 44 (0) 207 107 8000About Sopheon plc
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.
SOPHEON PLC