Trading update

Louvain la Neuve, (PresseBox) - At the end of the first quarter of 2010, I.R.I.S. Group posted results that are flat compared to Q1/2009. But this is not very significant, as the sales and delivery cycle generates more revenues in the second quarter, and even more in the second half of the year which should again be decisive.

Pierre De Muelenaere, President & CEO: "At this point in time, it seems that FY2010 could turn out to be very similar to FY2009. Capital expenditures in the private sector are still very much under pressure. Even the public sector puts some projects on hold. The hardware sales remain more impacted than software and services. However, despite these uncertainties, the Group's order backlog is slightly higher at the end of March 2010, compared to March 2009. We signed contracts and completed projects that reflect the ability of I.R.I.S. to enable customers to increase their business efficiency, i.e. the implementation of an Enterprise Content Management system and development of a dynamic website at the Belgian Federal Public Service for Economy, several projects in the private sector, like several law firms (i.e. Lenz & Staehelin (CH), Trip Advocaten & Notarissen (NL), Simmons & Simmons (NL)), Krëfel (B), BGL BNP Paribas (L), DKV (B), GlaxoSmithKline (B), etc. We also increased our international presence, namely through new local business partners as Trade Up Distribution AG, Alltron AG and Brack Electronics AG. Under the current circumstances, we remain prudent with respect to costs; but we have not deferred investments in our 2010 roadmap, which will enable I.R.I.S. to continue innovating in proprietary technologies and in highvalue business solutions. I.R.I.S. has a sound financial structure, characterized by a large shareholders' equity, a positive net cash position and undrawn committed credit facilities of € 14.5 million We expect to post an operating profit for the first six months of 2010, with an upward trend for the second half year."

Financial calendar and financial information

Ordinary General meeting : 18 May 2010 at 9AM
2010 halfyear results :26 August 2010

I.R.I.S. Group

The mission of I.R.I.S. to increase the productivity and knowhow of its clients by helping them better manage their documents, data and information.

I.R.I.S. Products & Technologies develop technologies and products within the field of Intelligent Document Recognition and commercialize the product portfolio worldwide through strong partnerships.

I.R.I.S. Professional Solutions offer companies and governments the chance of finding in one single company innovating knowhow and cuttingedge technology for the effective management of their documents, data flows and information infrastructure.

I.R.I.S. employs more than 600 people, spread over branches in Louvainla-Neuve, Vilvoorde and Antwerp (Belgium), Orly (France), Windhof (Luxembourg), Amstelveen and Maastricht (Netherlands), Aachen (Germany), Delray Beach (Florida, United States), Hong Kong (China) and Oslo (Norway).

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