SOPHEON PLC
("Sopheon" or the "Company")
INTERIM MANAGEMENT STATEMENT
Sopheon plc, the international provider of software and services that improve
the financial return from innovation and product development investments,
issues its interim management statement for the period since 1 July 2010 to
date, in line with the requirements of the EU Transparency Directive.
Sopheon's 2010 performance reflects a strong recovery from the effects of last
year's recessionary climate. Revenue visibility* for the year currently stands
at £8.8m, surpassing the company's total revenues of £8.3m for the full year
2009. Nearly two full months remain for us to add more business, with many of
the opportunities forecast to close between now and the end of December coming
from existing customers. We are also pleased to report an increase in
new-customer orders, and a general resurgence of buyer interest in our market.
Since the start of 2010, the sales value of our pipeline activity has risen
steadily.
In response to escalating customer and market demands, we have begun to recruit
new employees for critical parts of our organization, including positions in
sales, product development and services. Positive market trends
notwithstanding, end-user buying behavior remains unpredictable and pricing is
still under pressure. Accordingly, we continue to make investment decisions
with caution.
In the aftermath of the global economic crisis, many companies are once again
focusing their attention on growth, and innovation is returning to the
forefront as a strategic priority. Eighty-four percent of the senior corporate
executives participating in a recent global survey by McKinsey & Company stated
that innovation is extremely or very important to their companies' growth
strategy. Principal challenges listed by the group included integrating
innovation with strategic planning, selecting the right product ideas to
develop, and establishing a consistent process for bringing the best concepts
to market. Sopheon's solutions address these needs head-on. We are unique in
offering an all-in-one software system that encompasses support for product
strategy development, ideation and process execution. We are energized by the
strength of our market position, and by our potential for continued,
substantial growth.
* A definition of how visibility is calculated was provided in our half- yearly
report published on 26 August 2010.
For further information contact:
Barry Mence, Chairman Sopheon plc Tel : + 44 (0) 1483 685 735
Arif Karimjee, CFO Sopheon plc Tel : + 44 (0) 1483 685 735
Justine James / Kirsty Hansard Communications Tel : + 44 (0) 20 7245 1100
Corcoran
Floor van Maaren Citigate First Financial Tel : + 31 (0) 205 754 010
Catherine Leftley / Sarah Seymour Pierce Corporate Tel: +44 (0) 20 7107 8000
Jacobs / Richard Redmayne Finance
About Sopheon
Sopheon (LSE: SPE) is an international provider of software and services that
help organisations improve the business impact of product innovation. Sopheon's
solutions automate and govern the innovation process, enabling companies to
increase revenue and profits from new products. Sopheon's solutions are used by
industry leaders throughout the world, including BASF, Cadbury, Corning,
Electrolux, Honeywell, Motorola and SABMiller. Sopheon is listed on the AIM
Market of the London Stock Exchange and on the Euronext in the Netherlands. For
more information, please visit www.sopheon.com.
Sopheon trading update / page 2
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Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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