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| For Immediate Release |
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| Contacts: |
Thibault de Bouville
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Lionel Chapurlat |
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Access Commerce |
Access Commerce |
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P: +33 (0)5 61 39 78 78 |
P: +33 (5) 61 39 78 30 |
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tdebouville(at)access-commerce.com |
lchapurlat (at)access-commerce.com |
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www.access-commerce.com |
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Access Commerce Reports Strong Revenue Growth
and Break-even Net Income for 2007
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| Chicago, Illinois and Toulouse, France, March 6, 2008 |
Access Commerce (Euronext: 7424), a leading provider of E-Commerce and Configurator software, today announced its net income for 2007: |
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(€M)
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2007 |
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2006
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Cameleon Activity |
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7.86 |
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6.13 |
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Integration Activity |
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3.21 |
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3.07 |
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Revenue |
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11.07 |
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9.20 |
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Gross margin |
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9.53 |
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7.69 |
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Personnel expense
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(6.75) |
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(6.51)
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Operating income
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(0.03) |
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(1.73)
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Net profit/loss before GW amortization
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(0.03) |
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(1.79)
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Net profit/loss
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(1.76)
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(IFRS standards-Non Audited)
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Revenue up over 20%
Access Commerce posted revenue of €11.07 million in 2007, compared to €9.20 million in 2006. As a result of acquiring new customers such as Air Liquide, Apicil, Pages Jaunes, SFR, Legrand and CTB, Inc., the Cameleon Activity is up sharply (+28%), riding a surge in license sales, up 66% over the full year. This growth stems primarily from a strong increase in volume: the number of deals signed rose sharply, with a high proportion of sales in the services, retail and telecommunications sectors. These sectors now account for nearly 50% of license sales and represent a strategic growth driver for the Company. Access Commerce is positioning itself on larger projects and is targeting more tier one accounts. This resulted in a more than 100% increase in the average size of new customer Cameleon license deals in 2007 compared with 2006.
Following a number of tier one customer acquisitions in 2007, thirty of the world’s largest companies now use Cameleon solutions to sell their products and services.
License sales and maintenance revenue accounted for 72% of the Group's revenue.
Break-even net income and strategic investments
Net income was a positive €0.07 million in 2007 compared to a loss of €1.76 million the previous year.
The break-even point was unchanged in 2007 compared to 2006. A restructuring of the Company’s sales and marketing teams targeting the penetration of new markets, namely services, insurance and retail sectors that was undertaken in 2006 paid off in 2007. In parallel, Access Commerce continued to invest in the Cameleon NextGen program during the year. Research & Development expense amounted to €1.67 million in 2007 (compared to €1.76 million in 2006), plus €0.54 million in capitalized R&D expense during the period (compared to €0.40 million in 2006).
Closing balance sheet at December 31, 2007
The closing balance sheet broke down as follows:
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Assets in €M
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2007 |
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2006 |
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Goodwill |
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2.84 |
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2.84 |
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Other non-current assets |
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1.37 |
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0.84 |
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Trade receivables |
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6.43 |
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3.76 |
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Other current assets
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0.83 |
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0.65
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Cash and cash equivalents
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3.32 |
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4.99
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Total assets
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14.79 |
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13.08 |
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Liabilities in €M
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2007 |
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2006 |
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Shareholders’ equity |
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6.04 |
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5.89 |
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Long-term financial debt |
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0.79 |
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0.70 |
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Short-term financial debt |
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0.22 |
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0.38 |
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Trade payables
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1.81 |
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1.75
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Other debt
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2.61 |
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2.07
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Deferred income
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3.32 |
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2.29
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Total liabilities
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14.79 |
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13.08
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(IFRS standards-Non Audited)
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A significant increase can be seen in the trade receivables line item, partly offset by the increase in deferred income resulting from maintenance contracts, can be explained both by both a sharp increase in revenue in during Q4 2007 (for reference, Q4 revenue represented 31% of the revenue for the year) and by a controlled increase in the average payment period. The combined effect of this increase in trade receivables and R&D investments had an impact on the closing cash balance.
In addition, it should be noted that the long-term financial debt is mainly comprised of repayable advances (Oséo-Anvar & Codex).
Outlook for 2008: confirmation of the strategy
In the words of Stated Jacques Soumeillan, Chairman of the Board of Directors of Access Commerce: "The strong growth in Cameleon license sales and our reaching break-even results confirm the Access Commerce strategy, the two key aspects of which are the maintenance of a strong technological edge technology leadership for our software suite and the progressive penetration of key larger accounts and new service markets. The appetite of Demand from key tier one accounts customers and of from our integrator partners for the Cameleon solution has enabled the Company to perform very well this year. We plan to continue with this strategy in 2008, benefiting in particular from the fact that several Cameleon deals signed in 2007 that should generate significant license orders revenue over the coming years. Moreover, the release this year of the new NextGen technology should help us to win new key account customers." |
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| This press release may contain statements relating to future
prospects of the Company based on assumptions and forecasts
made by Executive Management, as well as information in its
possession. The said statements include an element of risk and
uncertainty and the assumptions made may differ radically from
actual Company performance. Readers of this press release should
therefore refrain from taking these statements as to future
prospects as certainties. |
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| Download the pdf file |
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| Access Commerce is an international provider of E-Commerce and Configurator software. |
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The Cameleon Commerce Suite from Access Commerce helps companies sell products and services through multiple sales channels and provides a common point of order capture across the enterprise. Cameleon optimizes complex selling and ordering processes by orchestrating core business functions that include e-commerce, electronic catalog and guided selling, product and service configurator, advanced pricing and promotions, quote and proposal generation, and order management. Employees, channel partners and customers use Cameleon to eliminate errors and non-value added activities, decrease cycle times and improve customer satisfaction, resulting in increased revenue and a reduction in sales and operational costs.
Access Commerce is headquartered in Toulouse, France and Chicago, Illinois. Customers include AREVA, Eaton Corporation, Golf Pride, Invacare, Leroy Merlin, Manitou, Perceptron, Perkins Engines, Saint-Gobain, Schneider Electric, Sud-Ouest Mutual Insurance, Tait Electronics, ThyssenKrupp, X-Rite and Yellow Pages. Visit the customer section of our website.
Cameleon is a trademark of Access Commerce SA and may be registered in certain jurisdictions. All other product and company names mentioned are the property of their respective owners.
For more information, visit www.access-commerce.com |
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