Heiler Software releases preliminary figures for the 2nd quarter 2009/10
This decrease stems mainly from consulting revenues which decreased from 1.46 million Euro to 1.35 million Euro (-8%). License revenues amounted to 0.49 million Euro after 0.55 million Euro in the prior year (-11%) and ASP/Hostingrevenues amounted to 0.23 million Euro after 0.29 million Euro (-21%). In contrast, maintenance revenues improved from 0.60 million Euro to 0.62 million Euro (+3%).
The decrease in consulting revenues stems from the termination of a project with an US customer, in which services in the amount of 0.2 million Euro could not be realized as revenues due to different opinions about contracted scope of services and project realization. Moreover, for precautionary reasons, an allowance for outstanding receivables from this customer has been set up. The allowance for receivables from this customer led to onetime costs within costs of goods sold of 0.31 million Euro and therefore to an increase from 1.50 million Euro to 1.66 million Euro when compared to the prior year.
Due to these onetime special effects earnings before interest and taxes decreased from -0.04 million Euro to -0.54 million Euro when compared to the prior year. Adjusted for these special effects EBIT remains at about the level of the prior year. Compared to the corresponding quarter of the prior year interest income decreased from 0.09 million Euro to 0.03 million Euro due to the strongly decreasing shortterm market interest level. Earnings before taxes for the second quarter 2009/10 decreased from 0.03 million Euro to -0.50 million Euro and net income for the period decreased from 0.03 million Euro to -0.51 million Euro.
Shareholders' equity decreased from 20.27 million Euro to 19.84 million Euro when compared to the beginning of the second quarter of the fiscal year. Thus, the equity ratio decreased from 90% to 86%. Liquid funds increased from 14.20 million Euro by 0.63 million Euro to 14.83 million Euro when compared to the prior year. Thus, Heiler Software still shows a very solid asset side and financial position.
The final figures will be published within the complete report for the second quarter 2009/10 at May 12, 2010.