Interim report for January–March 2008, FormPipe Software AB (publ)

2008 has started strongly. During the first quarter, we have worked hard to reinforce our sales and partner organisation and have implemented relatively major development initiatives in our suite of products. Despite this, the quarter showed both strong sales and healthy profitability.

From an historical perspective, the fourth quarter is the strongest quarter of the year by far. This is something that we must now, to a certain extent, re-evaluate because for the second year in a row we have witnessed a first quarter on a par with the fourth quarter of the preceding year. One interpretation of this is that our customers are no longer quite as focused on the turn of the year. In the long term, this development should have a positive effect as it creates a more even distribution of work over the year.

THE PERIOD 1 JANUARY–31 MARCH 2008

• Net turnover totalled SEK 24.0 million (SEK 15.5 million) – a rise of 55%
• Operating profits amounted to SEK 7.1 million (SEK 1.6 million), with an operating margin of 32.0% (10.5%)
• Earnings per share totalled SEK 0.56 (SEK 0.11)
• Profits after tax amounted to SEK 5.5 million (SEK 1.0 million)
• Cash flow from current operations totalled SEK 2.4 million (SEK 2.2 million)
• Licence and maintenance revenue amounted to SEK 14.9 million (SEK 9.1 million) – an increase of 63%

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