Trading Update Q3: Total Income for Q3 amounts to € 3,473k

TIE Kinetix N.V. (“TIE”) reports the following results and highlights with regard to the Third Quarter of FY2013 (April 1, 2013 – June 30, 2013).

Breukelen, The Netherlands

For the 3 months ending June 30, the Company reports the following key results:

Performance_Highlights_Q3_2013_TIE_KINETIX

 

Business Results

  • During the Third Quarter FY 2013, Total Income amounts to € 3,473k, an increase of 8% compared to the same period in FY2012 (€ 3,230k).
  • SaaS Revenue for the Third Quarter amounts to € 1,114k, a decrease of 7% compared to the same period in FY2012 (€ 1,193k).
  • Total Operating Expenses in the Third Quarter amount to € 3,063k, an increase of 16% compared to the same period in FY2012 (€ 2,631k).
  • EBIT (Operating Income) for the Third Quarter amounts to a loss of € 431k, a decrease of 700% compared to the positive amount of € 72k for the same period in FY 2012.
  • Total Comprehensive Income for the Third Quarter amounts to a loss of € 518k, a decrease of 732% compared to the positive amount of € 82k for the same period in FY 2012.

TIE experienced a third quarter with higher operating expenses, which amounted to € 432k comparing to the same period in FY2012. The employee benefits worldwide increased by € 231k. Other operating expenses increased by € 201k. A substantial part of these increasing expenses are related to the move to the new offices in Breukelen (€ 90k).

Additionally, TIE sold the hosting business of TIE Light in the third quarter of FY2013 and impaired € 60k on the related customer base. Furthermore, in the third quarter, TIE ascention has written off approximately €80k on the software Revolution for the first nine months of FY2013.  

Mr. Jan Sundelin (CEO of TIE) said: “The shortfall of Content Syndication, because of the expiration of the CNET Contract, could not be made up by new sales so far. We still expect to come around in the first quarter of FY2014. Our target of € 15mln will come close, however even though we expect to return to profitability in the fourth quarter, we foresee net income to be a loss for the whole year. In line with our previous announcement regarding a detailed assessment of our cost structure, we are about to execute a cost-cutting program.”

(For the full version of the press release, please download from the link below.)

For further information, please contact us via +31 88 369 8000 or bob.out@tiekinetix.com.
 

Profile TIE Kinetix

TIE Kinetix transforms the digital supply chain by providing Total Integrated E-commerce solutions. These solutions maximize revenue opportunities by minimizing the energy required to market, sell, deliver and analyze online. Customers and partners of TIE Kinetix constantly benefit from innovative, field tested, state-of-the-art technologies, which are backed by over 25 years of experience and prestigious awards. TIE Kinetix makes technology to perform, such that customers and partners can focus on their core business.
 
TIE Kinetix is a public company (NYSE Euronext: TIE Kinetix), and has offices in the United States, the Netherlands, France, Australia, UK, Germany, Austria and Switzerland.
 
Further information:
 
TIE Kinetix
 
TIE Kinetix N.V.
Corridor 5
3621 ZA Breukelen
Nederland
T:      +31 88 369 8000
E:       info@TIEKinetix.nl
W:      www.TIEKinetix.nl
 
Submitted by Investor Relations on Wed, 08/14/2013
 
END OF PRESS RELEASE
 
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