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MAGIX publishes preliminary figures for the third quarter
Corporate News
- Sales deferment due to adjustment of the publication cycle
- Sales at the level of last year still expected
Between October 2007 and June 2008 the company achieved revenues of EUR 22.2 million, which corresponds to a drop of 9% compared to last year. In the third quarter revenues were at EUR 5.9 million and thereby 11% below the same period of the previous year.
These revenue developments are in particular a result of the company's adjustment to the product publication cycle. The adjustment enables publication of new versions and market introduction of new products in the fourth quarter.
The MAGIX retail sector in the third quarter saw a 12% growth. The portal sector, which includes sales with online partners, remained at last year's level of EUR 2.6 million. The number of registered users rose to 8.19 million.
The gross margin is subject to certain fluctuation due to the changing product mix. In the third quarter an unusually high number of products with hardware components were sold, and for this reason the gross margin for this period was 77.9%, which is 10.6% below that of last year. However, in the first 9 months, an overall drop of 3.1% to 84.4% gross margin was recorded. In comparison to the last fiscal year the operative costs increased by 9 percent in the third quarter. In the first nine months they amounted to EUR 16.1 million, which corresponds to a drop of 6% in comparison to the previous year.
The cash flow at EUR 2.7 million continued to be positive and the equity ratio is at approx. 83%.EBIT of EUR 1.6 million were negative in the third quarter.
EBIT of EUR 0.1 million were generated in the first nine months. The 2006/2007 fiscal year saw EBIT of EUR 2.0 million. In the first nine months EBITDA are at EUR 2.7 million.
Due to adjustments in publication cycle, additional products will be brought to the market in the fourth quarter as compared to the last year. The Management Board therefore expects an evening-out of the declining revenues and maintains its forecast for the fiscal year 2007/2008 to reach previous year's revenues with EBIT of EUR 2 million.
The report for the first nine months of the financial year 2007/2008 will be published on 28 August 2008.
