Jena (Germany), May 13, 2009 – Intershop Communications AG, a provider of integrated e-commerce solutions, today published its results for the first quarter of 2009.
At EUR 6.8 million, net revenues in the first three months of 2009 were on a level with the previous year (EUR 6.9 million), despite the substantial deterioration in the economic environment. Revenues from services and maintenance, which account for the lion's share of this figure, increased by 3% to EUR 6.1 million. License revenues amounted to EUR 0.8 million, compared with EUR 1.1 million in the first quarter of 2008. Overall, the gross margin (gross profit/net revenues) improved from 35% in the prior-year period to 43%.
Consolidated profit reflects increased research and development expenses and the acquisition in February 2009 of an interest in the Berlin software house TheBakery. Excluding the acquisition, Intershop's profit for the quarter amounted to EUR 0.25 million; after adjustment for the transaction, its consolidated profit was EUR 0.1 million. This means that Intershop generated a profit for the seventh successive quarter.
As in previous quarters, Intershop again improved its liquidity situation in Q1 2009. Unrestricted cash rose by around EUR 0.7 million compared with the end of 2008 to EUR 8.7 million. As of March 31, 2008, this item amounted to EUR 6.9 million. Equity increased from EUR 16.3 million at December 31, 2008 to EUR 16.6 million at the end of the first quarter. This corresponds to an equity ratio of 63%.
The full press release relating to this adhoc disclosure is available at www.intershop.com.
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.