logo
Share SHARE
FONT-SIZE Plus   Neg

Misys Q3 Revenue Slips 12% - Quick Facts

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is too much uncertainty in the current market environment over the next 2 years and hence the profit forecast is being withdrawn and should not be relied upon.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Fox News pundit Bill O'Reilly remains under fire amid accusations that he trumped up his role in covering international events. Only weeks after a Mother Jones article raised doubts about his claims that he was in the "warzone" during the Falklands War, the Washington Post noticed that O'Reilly once... PayPal, the online payment unit of Ebay, said it has agreed to buy mobile payment company Paydiant as part of efforts to expand its mobile offerings for merchants. The deal comes at a time when the mobile payment space is suffused with prominent players like Apple and Google, with retailers seeking their own mobile payment applications. Google plans to launch a limited-scale U.S. wireless service, which while not taking on the big players in the industry, would nonetheless incorporate technical innovations that could be absorbed the carriers. This was announced by Sundar Pichai, a top Google executive, at the ongoing World Mobile Congress in Barcelona.
comments powered by Disqus
Follow RTT