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Losses for update software AG
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The Austrian software company, which is listed on the Frankfurt Stock Exchange, records declining sales as well as operating losses.
Losses for update software AG / Picture: © Vindobona.org
update software AG, a CRM solutions provider, has released its 2011 first-quarter results, with sales revenue of € 6.5 m and earnings before interest and taxes (EBIT) of € -0.6 m.
2011 marks the beginning of the second year of update's transformation to a software-as-a-service business model, which continues to entail higher-than-usual investments.
In the first quarter…
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