Still Losses at update software AG

CompaniesTechnology ♦ Published: January 28, 2011; 00:23 ♦ (Vindobona)

update software AG, an Austrian provider of CRM solutions listed on the Frankfurt Stock Exchange, has released its preliminary results for 2010.

Still Losses at update software AG / Picture: ©

Due to the transition to SaaS (Software as a Service) as its new business model, the Company's sales revenue for 2010 of € 27.6m is down from last year. Earnings before interest and taxes (EBIT) before non-recurring items was € -0.7m.

Accumulated revenue for the entire 2010 financial year totaled € 27.6m, which corresponds to a decline of 11.9% (2009: € 31.4m). Broken…