Richard Davies wrote: The UK has a good crop of technology pioneers in cloud computing - for example ElasticHosts, FlexiScale, Flexiant, OnApp - and also some strong government initiatives such as G-Cloud.
We will have to see whether this kind of technical leadership converts into swift mass-market adoption or not.
PARIS -- (Marketwire) -- 02/11/10 -- Annual Results 2009
- Consolidated Sales: 8,564 K
- Net Income: 304K
SYSTRAN, the leading provider of language translation technologies, today
announced its consolidated financial results for the year ended December
31, 2009.
SYSTRAN's consolidated sales amounted to 8.56 million Euros in 2009, an
increase of 12% as compared with 2008.
In 2009, salaries and wages and other expenses increased respectively by
16.9% and 6.5%. Consolidated current operating income amounted of 28,000
Euros as compared with a loss of 72,000 Euros in 2008. A significant share
of the salaries and wages are dedicated to research and development in
which the Company continues to dedicate 20 to 25% of its annual sales.
Despite losses on the foreign exchange rate, the Company recorded positive
financial income from gains and interest earned on investments. Taxes are
attributed to SYSTRAN Software, Inc. and SYSTRAN S.A. recorded a tax-credit
related to its research and development activities.
Consolidated net income amounted to 304,000 Euros in 2009 versus a loss of
7.11 million Euros in 2008 resulting from the depreciation of intangible
assets.
Total shareholders' equity amounted to 15.02 million Euros as compared with
15.28 million Euros as of December 31, 2008. The Company has no significant
debt and the Company's net cash position increased to 11.2 million Euros at
December 31, 2009, as compared with 9.3 million Euros on December 31, 2008.
Total sales amounted to 8.56 million Euros, an increase of 12% as compared
with 2008. Professional Services sales increased to 2.94 million Euros
while Software Publishing slightly decreased to 5.62 million Euros.
The decrease in Software Publishing sales is attributed to a 44.1% decline
in Desktop Product sales. The version 6 of Desktop Product was launched in
2006 and is now at the end of its lifecycle. It will be replaced by a new
version in 2010. The launch of the new version 7 of Server Products in 2009
was a success and sales grew by 35.7% compared to 2008.
Professional Services sales increased significantly compared to 2008 and
represent 34.4% of total sales. This reflects the impact of new orders
received from the US Government in 2008 and 2009.
Outlook
In 2010 SYSTRAN's efforts will focus on the development of the Software
Publishing business segment:
- Commercial investment to develop sales of its version 7 Server Products
to Corporate customers;
- The release of its version 7 Desktop Products and commercial investment
to develop online and channel sales.
As of December 31, 2009 unearned revenue from license sales amounted to 1.0
million Euros as compared with 1.2 million Euros at December 31, 2008.
SYSTRAN also expects that Professional Services with US agencies will
remain stable. As of December 31, 2009 total work orders for Professional
Services amounted to 0.8 million Euros as compared with 1.4 million Euros
at December 31, 2007.
Dispute with the European Commission
The oral procedure took place in Luxembourg on October 27, 2009. After the
proceedings the Court declared the oral procedure closed but did not
announce any decision date.
About SYSTRAN
SYSTRAN is the market leading provider of language translation software
products and solutions for the desktop, enterprise and Internet.
Use of SYSTRAN products and solutions enhance multilingual communication
and increase user productivity. SYSTRAN delivers real-time language
solutions for search, content management, online customer support, intra or
inter company collaboration, and eCommerce.
With the ability to facilitate communication in 52 language combinations
and in 20 vertical domains, SYSTRAN's software is the choice of leading
global corporations, portals including Apple, Yahoo! and AltaVista, and
public agencies such as the US Intelligence Community and the European
Commission.
SYSTRAN has been pioneering advances in machine translation for over four
decades. Its latest achievement, SYSTRAN Hybrid MT, combines the
predictability and language consistency of rule-based machine translation
with the fluency of statistical MT.
SYSTRAN is headquartered in Paris, France with a North American office
located in San Diego, California, USA.
SYSTRAN (Code ISIN FR0004109197, Bloomberg: SYST NM, Reuters: SYTN.LN) is
listed on EuroNext Paris, Compartiment C.