Graphisoft Publishes Audited Annual Report
Budapest, March 30, 2001 - Graphisoft published its audited annual accounts for year 2000 on March 30, 2001. The results are in line with the preliminary figures released on February 14, with revenues of 31.9M EUR, a net income of 4.3M EUR, and 0.41 EUR in earnings per share (1999 figures were 25.7M EUR, 5.6M EUR, and 0.52 EUR, respectively).
Loss for Q1/Outlook for 2001
The factors that impacted the Company's results negatively in the last quarter of 2000 are also influencing revenues in the first quarter of 2001. The company expects a loss for Q1, with revenues falling by about 20% compared to the same period last year. The management board points to the continuing slowdown of the construction industry in several of Graphisoft's important markets, and a general decrease in IT spending all over the world. The upgrade cycle of ARCHICAD also adversely affected sales this quarter, as customers have delayed their purchases due to the upcoming release of the new version in late spring 2001.
In order to meet the challenges of the changed conditions, Graphisoft management implemented a plan for reorganization and cost reduction in 2001. The details will be published in the Company's Q1 report on May 10.
With more conservative planning, the Company will continue to execute its strategy to ensure long-term growth, and feels confident it is equipped with all the necessary resources for success.
Graphisoft expects to be profitable for the year 2001, and to post a modest growth in revenue.