Paris, France – January 24, 2012 – InfoVista (Euronext: IFV, ISIN: FR0004031649), global leader of service performance assurance, today announced financial results for its second quarter, ended December 31, 2011.

Total revenues for the quarter were €11.2 million, compared to €12 million in the second quarter of the prior year which represents a 6% decline. The operating loss was €0.2 million for the quarter, including a €1.9 million non-recurring transaction cost, compared to an operating profit of €1.1 million for the comparable quarter of the prior year. The net loss reached €0.2 million for the quarter as compared to €0.9 million of net income for the comparable quarter of the prior year.

“With the recent announcement of the Thoma Bravo acquisition, we remain focused on the successful completion of this project.” said Philippe Ozanian, InfoVista’s CEO. “With Thoma Bravo’s support, InfoVista shall be able to achieve its goals of delivering industry leading innovation in the network management market and unparalleled customer support, while providing an attractive value to our shareholders through the upcoming tender offer.”

Thoma Bravo Acquires Control of InfoVista

On December 20, 2011, InfoVista announced that Thoma Bravo and many of InfoVista’s largest shareholders have simultaneously signed an agreement and completed a transaction, under which Thoma Bravo acquired, through an acquisition vehicle (“Project Metro Acquco SAS”), 10,827,692 InfoVista shares, representing 67.24% of the outstanding share capital and voting rights. Each InfoVista share was acquired at a purchase price per share of €5.05, representing a 44% premium to InfoVista’s closing share price of €3.50 on December 9, 2011, the last full trading day before InfoVista publicly requested a trading suspension of its shares from Euronext Paris.

In connection with the acquisition, a shareholders’ meeting of the Company has been convened for February 8, 2012 to approve an exceptional distribution of €1.40 per share. As the majority shareholder of the Company, Project Metro Acquco SAS has undertaken to vote in favor of this exceptional distribution. As required by applicable regulations, Project Metro Acquco SAS will file a simplified all-cash public tender offer with the Autorité des marchés financiers (AMF) at a price of €5.05 per share on the shares it has not already acquired. However, if the €1.40 per share exceptional distribution is approved and paid before the opening of the simplified tender offer, the price per share will be adjusted accordingly to €3.65.

Revenues by Region

In the second quarter, Americas’ region topline performance was boosted by sizable software deals with both existing and new customers. In Europe, challenging macroeconomic conditions led to continued delays in the sales cycles, especially on large deals.

Operating Expenses

Sales and marketing along with research and development primarily decreased from lower personnel costs as a result of headcount reductions. General & administrative costs declined from lower professional fees. As at December 31, 2011, InfoVista had 206 employees.

Balance Sheet

As at December 31, 2011, the Company’s cash, cash equivalents and short-term deposits amounted to €27 million, as compared to €25.7 million as at June 30, 2011 and €25 million as at September 30, 2011. Days Sales Outstanding (DSO) stood at 79 days for the second quarter, as compared to 79 days in the comparable quarter of the prior year. As at December 31, 2011, InfoVista had a total of 16,480,037 and 16,101,008 shares issued and outstanding, respectively. 

Download the INCOME STATEMENTS and CONSOLIDATED BALANCE SHEETS (pdf)