update software AG Returns to Profitability

CompaniesTechnology ♦ Published: July 20, 2011; 12:58 ♦ (Vindobona)

The Austrian software company, which is listed on the Frankfurt Stock Exchange, is on its way back to black figures. Sales went up 29.2% in the second quarter, EBIT improved to positive earnings of € 0.2m.

update software AG Returns to Profitability / Picture: © Vindobona.org

After one and a half years of transformation to a software-as-a-service business model, entailing higher-than-usual capital expenditures, update software AG was again back to positive earnings in the second quarter of 2011. The company confirmed its guidance for the 2011 financial year with sales revenue of € 31m and EBIT at break-even.

update generated sales revenue of €…