Graphisoft's Preliminary Results: Revenues up 26% and Net Income per Share grew by 25% in Q4/1999
Frankfurt/Budapest, February 10th, 2000. Graphisoft (Frankfurt Neuer Markt: GPH), developer of the award-winning integrated architectural CAD program ARCHICAD, today published preliminary, un-audited results for the three months and twelve months ended December 31, 1999. Driven by the new version ARCHICAD 6.5, revenues grew by 26% from 6.8 to 8.5 million EURO compared to Q4/1998.
A comparison of the third and fourth quarters of 1999 is even more impressive, showing a revenue increase of 54% and a 181% increase in net income from 0.8 million to 2.3 million EURO in the relevant three month periods. The outstanding fourth quarter growth was positively affected by the upgrade release - which occurred later in the year than in 1998 - resulting in 1.5 million EURO upgrade revenue compared to 0.9 million EURO in the same period of 1998.
While two-thirds of the Company's revenues were earned in Europe, which improved by 12%, the dynamism of North America and Asia/Pacific significantly contributed to the overall success. Revenues increased by 81% and 64% in these regions in the last quarter, respectively.
Revenue trends for the whole year showed a very well-balanced global growth in each geographical segment. Asia/Pacific, North America and Europe achieved 21%, 20% and 12% improvement in a year-on-year comparison, respectively, and the Rest of the World contributed to the worldwide achievement with 4% growth.
Graphisoft aggressively invested in new products and new markets in 1999. While these investments were reflected in higher operating expenses, revenues are expected to accelerate from year 2000 and beyond.
Operating expenses increased by 24% from January through December 1999 over the same period of 1998. Graphisoft entrusted its Hong Kong subsidiary to a strong local partner, and opened new subsidiaries in Brazil and Chile. The company also acquired Cymap Limited1 , UK, a building services software company; and invested in CETEC Vision A.G., Germany, a building automation Company. In addition to the new 6.5 release of its flagship product, ARCHICAD, the Company launched ArchiFM 2000, the integrated 3D facility management solution, as well as a set of internet-based object tools to address the expected boom in the e-commerce of building components.
The Company maintained its strong financial position, as excellent profitability was coupled with high liquidity and self-financing. With more than 18 million EURO cash and short-term investments that make up 42% of the Company's assets, Graphisoft is positioned to aggressively pursue further investments to expand from an architectural CAD software company to a leading information technology provider for the whole construction industry.
|3 months ended December||12 months ended December|
|Net income per share||0.23||0.18||25%||0.52||0.63||-17%|
UNAUDITED! All amounts are in million EUROs, except Net income per share, which is in EURO. EBITDA stands for Earnings Before Interest, Taxes, Depreciation Added
¹CYMAP contract came into force as January 04, 2000 only; therefore, consolidated results DO NOT include either revenues or expenses of CYMAP Limited.
Graphisoft is a leading provider of computer-aided design (CAD) software solutions for the architectural profession and the building industry. Founded in 1982, Graphisoft is ranked today among the largest AEC CAD software developers in the world, with 12 offices all over the world in addition to its headquarters. Graphisoft's flagship product, ARCHICAD, is used by more than 75,000 architects worldwide and distributed in 25 languages and 80 countries. Shares of Graphisoft are traded on the Frankfurt Stock Exchange Neuer Markt under the symbol GPH. More information about Graphisoft is available at www.graphisoft.com.