Breaking News
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Misys Q3 Revenue Slips 12% - Quick Facts

3/19/2012 3:17 AM ET

Misys Plc (MSY.L, MUSJF.PK) reported a 12% drop in its third-quarter revenue to 89 million pounds from 100 million pounds in the prior-year period, on a pro-forma constant currency basis. Quarterly order intake was down by 18% to 52 million pounds from 63 million pounds a year ago. For comparative purposes, last year results are adjusted by the retranslation of results at current year exchange rates and by the addition of results from Sophis before its acquisition, at current year exchange rates, Misys added.

The company's Acting Chief Executive Tom Kilroy said, "Our third quarter results were impacted predominantly by the cautious approach adopted by customers whilst discussions were taking place about the future ownership of Misys, and also by continued challenging conditions in financial markets. However, we are confident that sales are being delayed rather than cancelled."

In light of the offer for the company announced today, Misys is withdrawing its previous medium-term revenue growth and operating profit margin targets as last announced on January 26, 2012 with the Misys results for the six months ending November 2011. The company anticipates that it is not possible to report on the profit forecast as there is too much uncertainty in the current market environment over the next 2 years and hence the profit forecast is being withdrawn and should not be relied upon.

Register
To receive FREE breaking news email alerts for Misys plc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Growth in Philadelphia-area manufacturing activity has accelerated by much more than anticipated in the month of April, according to the results of the Federal Reserve Bank of Philadelphia's Business Outlook Survey released on Thursday. The Philly Fed said its diffusion index of current activity climbed to 16.6 in April from 9.0 in March, with a positive reading indicating growth. After moving notably higher over the past few sessions, stocks are turning in a lackluster performance in morning trading on Thursday. The major averages have been showing modest moves, holding close to the unchanged line. After reporting initial jobless claims at their lowest level in almost seven years in the previous week, the Labor Department released a report on Thursday showing that claims rebounded slightly in the week ended April 12th. The Labor Department said initial jobless claims inched up to 304,000, an increase of 2,000 from the previous week's revised level of 302,000.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.