Exact Holding N.V.
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Publicatie datum
07 nov 2008 - 18:00
Statutaire naam
Exact Holding N.V.
Titel
Exact Holding N.V.: 2008 Trading Update
Bericht
Delft, November 7, 2008 - Based on the continued deteriorating economic conditions over the last weeks, Exact’s Board of Managing Directors is issuing a trading update on the outlook for the full year results for 2008. The guidance given on July 24, 2008 was subject to no further material changes in the economic climate at that time.
In light of the uncertainties surrounding the current economic and business environment and the importance of the 4th quarter for the full-year results, the Board decided to no longer provide a specific outlook for the full-year 2008.
Since the beginning of the year the Board has been prepared for such a down-turn in the economic climate and aligned the company’s cost structure to the current market conditions. As a result of a further organizational alignment within the Americas and Netherlands regions and a global recruitment stop as per August 2008, the total number of employees has been reduced by approximately 10% to fewer than 2500. In addition, cost saving programs in the areas of travel and general expenses have been implemented early in the year. Based on these cost measures, the Board expects the EBITDA amount for the full-year 2008 to be at least on the same level as for 2007. This is subject to no further material changes in the economic climate.
“Given the deteriorating economic environment we had a solid performance in most of the regions up to the third quarter. Although we saw a decline in license revenue from new customers, an early shift of focus enabled us to compensate that to a large extent with additional revenue from existing customers. This gave us confidence to meet our full-year expectations,” said Raj Patel, CEO of Exact Software. “October was the first month in which we experienced a noticeable impact from the current economic conditions on license revenue, leading to October results below our expectations. We have seen continued postponement in deal flow in most regions which is making us more cautious o
Datum laatste update: 01 september 2024