Jena, Germany, November 6, 2008 – Intershop Communications AG (Prime Standard: ISH2) today announced its results for the third quarter and the first nine months of fiscal year 2008.
Intershop achieved gross revenues of EUR 24.1 million in the first nine months of 2008, representing an increase of 7% (previous year: EUR 22.5 million). Total net revenues rose by 5%, from EUR 19.7 million to EUR 20.8 million. Net revenues from services, maintenance, and other included in this figure increased by 14%, from EUR 15.6 million to EUR 17.8 million. Total gross revenues for the quarter rose from EUR 7.9 million in the third quarter of 2007 to EUR 8.0 million in the third quarter of 2008.
Intershop generated positive nine-month results for the first time. The Company's result from operating activities (EBIT) from January to September amounted to EUR 1.5 million, while the EBIT margin reached 7%. In the prior-year period EBIT amounted to EUR -2.4 million and the EBIT margin was -12%. Profit after tax totaled EUR 1.1 million after the first nine months of 2008, while earnings per share were EUR 0.04. In the comparative period of the previous year the loss after tax was EUR 2.5 million, while the loss per share was EUR 0.10.
Seen at a quarterly level, Intershop has now closed five quarters in a row with a profit. At EUR 0.6 million, EBIT was the same in the third quarter of 2008 as it was in the third quarter of 2007. The EBIT margin improved from 8% to 9%. The earnings per share were EUR 0.02 in both quarters.
Balance sheet and cash flow
Intershop's equity increased from EUR 12.4 million as of December 31, 2007 to EUR 13.9 million as of September 30, 2008. The equity ratio rose from 53% to 56%. Total assets amounted to EUR 24.7 million (previous year: EUR 23.2 million).
The Company's liquidity also reflects its positive earnings trend. Unrestricted cash increased from EUR 5.9 million as of December 31, 2007, to EUR 7.9 million as of September 30, 2008.
After its consistently positive results in the first nine months, Intershop continues to expect to close fiscal year 2008 with a significant profit.
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.