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Graphisoft Announces Q2 2001 Results

Strong sales of new ARCHICAD release lift revenues well above Q1 figures; Company regains its profitability

BUDAPEST, August 9, 2001 - Graphisoft today announced revenues for the three months ended June 30, 2001, at 8.5 million EUR, representing a profit for the quarter and a 39% increase over Q1 figures. However, due to the continuing deceleration of the world's major economies, especially in the area of technology and building construction, Graphisoft's Q2 sales exceeded only slightly those of the exceptionally strong second quarter of last year; revenues in the six months ended June 30, decreased by 5.9%.

"The Company's tight cost control and restructuring measures that have been in place since January helped to regain profitability in the second quarter," reports President and CEO Gábor Bojár. Operating expenses, excluding depreciation and amortization, increased by 2.5% only from April through June in 2001, despite currency exchange movements pushing such expenses up. "Our primary goal is to secure profitability for the whole of year of 2001."

Key figures*3 months ended June 30change
% 01/00
6 months ended June 30change
% 01/00
Gross profit7,1666,8934.0%12,35612,928-4.4%
Operating expenses6,1705,8505.5%11,87510,62711.7%
Operating income9961,043-4.5%4812,301-79.1%
Net income7071,119-36.8%592,757-97.9%
Net income per share
(EUR /share)

* All amounts are in thousand EURO; net income per share is in EURO

Revenues are still dominated by ARCHICAD sales, and the comparison of the first and second quarter of the year shows clearly that the new version has been well received. ARCHICAD 7.0 was released in Graphisoft's largest markets during the second quarter, including Germany, United States, United Kingdom and France. Germany took a leading role in the success with a 34.0% over the second quarter of the previous year.

Above average results, both in the three and six month terms, were achieved in Japan, where Graphisoft's long term strategic alliances (Kajima, Okamura, RIK) contributed to a growth of 11.1% and 2.7%, respectively.

The Company continued the development of its new product lines (facility management, building services, GDL object technology), and considerably improved the related selling and marketing resources. The new product lines, however, have not contributed to Q2 sales substantially due to their long sales cycle.

The complete report can be found here.