Intershop Communications AG | Press Release |
Intershop Board of Management again provides positive outlook at Annual Shareholders’ Meeting
- Revenue expected to be in the upper range of 7% to 13% for 2010
- Substantial growth from cooperation with GSI Commerce
Jena, July 5, 2010 – The Board of Management of Intershop Communications AG confirmed its positive outlook for fiscal year 2010 at the Annual Shareholders’ Meeting on Friday July 2, 2010, in Jena. Revenue is expected to reach the upper range of an estimated 7% to 13% growth compared to last year’s revenue of EUR 31.8 million. Operating results are anticipated to at least match last year’s figures of about EUR 2 million. This optimistic forecast is based on the positive development of business over the first few months of 2010 as well as the growth perspective stemming from the strategic cooperation with the US company GSI Commerce, Inc., finalized in April. The partnership allows Intershop to tap into the important US e-commerce market more quickly.
Peter Mark Droste, member of Intershop Communications AG’s Board of Management, says: "Intershop is off to a great start in 2010 following its record-breaking year in 2009. The strategic partnership with GSI Commerce is an important milestone for Intershop and will contribute about EUR 3 million in revenue to the current fiscal year."
A total of about 100 shareholders and shareholder representatives were present at the Annual Shareholders’ Meeting. Those assembled represented approximately 42% of share capital. Shareholders approved five of the six proposals presented by the Board of Management on the agenda with a clear majority. The resolution to purchase own shares was dismissed by a close vote. Jim MacIntyre, appointed to the Supervisory Board by Jena district court in May 2010, was approved by the shareholders. Furthermore, those present agreed with the recommendation of the Management and Supervisory Board to defer approval of the Supervisory Board’s actions for fiscal year 2009 until the next Annual Shareholders’ Meeting.
Intershop Communications AG (founded in Germany 1992; Prime Standard: ISH2) is the leading independent provider of omni-channel commerce solutions. Intershop offers high-performance packaged software for internet sales, complemented by all necessary services. Intershop also acts as a business process outsourcing provider, covering all aspects of online retailing up to fulfillment. Around the globe more than 300 enterprise customers, including HP, BMW, Würth, and Deutsche Telekom run Intershop solutions. Intershop is headquartered in Jena, Germany, and has offices in the United States, Europe, Australia, and China. More information about Intershop can be found online at www.intershop.com.
This news release contains forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop's limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, significant dependence on large single customer deals, consumer trends, the level of competition, seasonality, risks related to electronic security, possible governmental regulation, and general economic conditions.