Micro Focus International plc
14 August 2007
Embargoed for 7.00am, Tuesday 14 August 2007
Q1 Interim Management Statement
Micro Focus International plc ("Micro Focus" or "the Group", LSE: MCRO.L), the
Enterprise Application Modernization software company, today provides an Interim
Management Statement for the three month period to 31 July 2007.
Following a successful first quarter, Micro Focus reiterates full year guidance
of achieving a similar level of revenue growth to the rate achieved in the year
to 30 April 2007 (19.4%) with EBITDA margins expected to remain at a similar
During the quarter, organic growth was achieved across all three revenue
streams; license, maintenance and consulting. Growth in the core business was
further enhanced by the impact of recent acquisitions.
Customer wins included T-Systems, EDB, Texas State Department, and BNP Paribas.
The acquisition of Acucorp Inc ("Acucorp"), announced 4 May 2007, for $40.7m,
provides technology that is highly complementary to Micro Focus' core business
in the Application Development space as well as providing the opportunity for
Micro Focus to expand its reach into the small and medium-sized enterprise ("SME
") markets. Both the speed of integration and financial results from this
acquisition are ahead of our original expectations. We expect a meaningful
contribution to both revenues and profits in the year ahead as a result of this
Stephen Kelly, Chief Executive Officer of Micro Focus International plc,
"We are encouraged by the progress made across the Group in our first quarter of
trading. We have achieved solid revenue growth with consistent margins as
compared to the prior year period. Our first quarter of trading underpins our
previous full year guidance that revenue growth and margins for the current
financial year are expected to be similar to those achieved in the year to April
Management's emphasis will continue to be on licence fee sales to drive
profitable growth. We are confident that a robust and sustainable market exists
to support our growth strategy. Our key focus remains on organic growth."
Micro Focus Tel: +44 (0)1635 32646
Stephen Kelly, Chief Executive
Nick Bray, Chief Financial Officer
Financial Dynamics Tel: +44 (0)20 7831 3113
Notes to editors:
About Micro Focus
Micro Focus, a member of the FTSE 250, provides innovative software that allows
companies to dramatically improve the business value of their enterprise
applications. Micro Focus Enterprise Application Modernization and Management
software enables customers' business applications to respond rapidly to market
changes and embrace modern architectures with reduced cost and risk. For
additional information please visit www.microfocus.com.
About Acucorp Inc.
Acucorp provides innovative technologies for the modernization and enhancement
of business-critical applications. In addition to both modernizing and enhancing
existing assets, Acucorp's innovative software solutions provide
interoperability and portability to more than 600 different computing platforms.
The company, founded in 1988, has headquarters in San Diego, California,
regional offices throughout Europe and distributors around the world. For
additional information please visit www.acucorp.com.
This information is provided by RNS
The company news service from the London Stock Exchange