InfoVista Announces Preliminary Q2 Financial Results and Restructuring Plan
Paris, France - January 21, 2009 - InfoVista (Euronext: IFV; ISIN: FR0004031649), the leading service-centric performance management software company, today announced preliminary unaudited financial results for the second quarter, ended December 31, 2008, of its 2008/09 fiscal year.
Total revenues for the quarter should amount to approximately €11.7 million, as compared to €11.3 million in the second quarter of last year. Net income should amount to approximately €0.9 million for the quarter, including a net French R&D tax credit of €0.4 million, as compared to net income of €0.5 million in the second quarter last year.
To improve the competitiveness and efficiency of its operations, InfoVista announced a restructuring program aimed at generating savings of approximately €3 million on an annual basis. This plan should reduce InfoVista’s workforce by approximately 30 positions (about two-thirds in France and one-third in other markets), or 12% of the Company’s worldwide headcount. In addition, this program targets further reductions in sub-contracting and other operational costs. As a result of this program, a restructuring charge of approximately €1.5 million should be booked during the second half of InfoVista’s 2008/09 fiscal year.
InfoVista will provide further details on this restructuring program when it announces second quarter financial results on February 5th, 2009. On the same day, InfoVista management will hold a SFAF meeting in Paris and a conference call for international followers, details of which will be provided at a later date.
Contact
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Americas & Asia Erin HableAccount Executive Sterling Kilgore, Inc. (630) 964-8500 ext. 222 ehable@sterlingkilgore.com |
Europe, Middle East & Africa Clémentine Hegele / Alexandra KedwardHotwire PR France +33 1 43 12 55 48 / +33 1 43 12 55 66 clementine.hegele@hotwirepr.com alexandra.kedward@hotwirepr.com |
