InfoVista Announces Preliminary Q2 Financial Results and Restructuring Plan
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 |
InfoVista enables managed service providers, mobile operators, broadband operators and enterprise IT organizations to ensure the availability and quality of the services they deliver at the lowest possible cost, empowering these organizations to successfully make the transformation from infrastructure providers to service providers. Our customers rely on InfoVista’s proven solutions for service and infrastructure performance management to successfully launch new and high performance services, foresee potential service issues before they impact end users, reduce customer churn, and invest appropriately. Sample customers include Bell Canada, Bharti, BNP Paribas, Cable & Wireless, Citigroup, Deutsche Telekom, JP Morgan Chase, KPN International, SFR, T-Mobile, Telefonica, and Telstra. InfoVista is traded on the Euronext Paris (FR0004031649) and can be found online at www.infovista.com.
