SQS Software Quality Systems AG Regulatory News (SQS)

28 Nov 2007 07:00

SQS Software Quality Systems AG28 November 2007 SQS Software Quality Systems AGTrading Update28 November 2007 SQS Software Quality Systems AG ('SQS' AIM: SQS), the global leader inindependent software testing and quality management services, announces thefollowing trading update for the year ending 31 December 2007. The Board is pleased to report healthy growth across all geographies andcontinuing strong market demand with all market verticals performing well.Revenues and profits are both expected to be modestly ahead of current marketexpectations. SQS continued to strengthen its client base and improve its revenues from repeatbusiness. During the third quarter (July-Sep), SQS won 43 new clients across allkey geographies. Importantly, these new clients are spread across ten marketverticals including insurance, technology and automotive/industrial. InSeptember SQS was pleased to announce its largest ever contract (€2.5 million)with a telecommunications provider. Year on year, SQS has secured an increasingnumber of long term contracts and the percentage of SQS contracts involvingsignificant offshore delivery components is now at its highest rate. On 20 August 2007, SQS announced the acquisition of Triton, the Austrian ITconsultancy services company for the insurance industry, for a total maximumconsideration of €15.5 million. As anticipated the acquisition has enhancedSQS's 'Management Consulting' practice and led to a number of cross-sellingopportunities. The acquisition has also been earnings enhancing. There are continued high levels of utilisation and an increased number ofconsultants. SQS has increased its total headcount to meet the growing marketdemand for independent software testing and quality management from 733 at the2006 year end to 1003 in November 2007. SQS invites you to an analyst and investor seminar to be held today at 12.30pmat College Hill Associates, The Registry, Royal Mint Court, London, EC3N 4QN.The presentation will cover the trading update, SQS strategy and customer casestudies. Enquiries: SQS Software Quality Systems AG +49 22 03 91 54 0Rudolf van Megen, CEORene Gawron, CFO Altium +44 (0)20 7484 4040Nick Tulloch College Hill Associates +44 (0) 20 7457 2020Sara MusgraveBen Way Print resolution images are available for the media to view and download fromwww.vismedia.co.uk. Notes to Editors: SQS is the global leader in independent software testing and quality managementservices having most of its business in Europe. SQS consultants design andoversee quality management processes during software and IT systems development,and test the resulting products for errors and omissions. Headquartered in Cologne, Germany, SQS now has more than 1000 employees acrossEurope and in South Africa. The Group has a strong presence in Germany (Cologne,Munich, Frankfurt, Stuttgart and Hamburg) and in the UK (London, Woking,Birmingham, Manchester, Belfast), Ireland, Netherlands, Switzerland, Austria andSouth Africa. SQS also has a minor stake in an operation in Portugal and apartnership operation in Spain. With more than 4,000 completed projects under its belt, SQS has a strongcustomer base including 36 FTSE-100 companies, half of the DAX 30 and nearly athird of the STOXX-50. It supports clients in a wide range of industries,including major corporations such as Zurich Group, Deutsche Telekom, Barclays,BP, Boots, Credit Suisse, Volkswagen, and Daimler. This information is provided by RNS The company news service from the London Stock Exchange