First Half FY 2011-2012 Consolidated Results

Strong Revenue and Profit Growth

(PresseBox) ( ST. CLOUD, France and Vienna, VA, )
Systar (ISIN : FR0000052854-SAR), a leading provider of Operational Intelligence software, today announced its revenues and income for the first half of fiscal year 2011-2012, which will end June 30th, 2012.

Strong growth momentum in first half

- Consolidated revenues for the first half reached 10.6 M€, exceeding the highest levels observed before the crisis. Growth accelerated markedly in the first half to +23% (vs +11% in the previous semester), despite the challenging environment for investments, particularly in the banking sector.
- The solutions developed and marketed by Systar match well the expectations of customers who pay special attention to putting their IT and business processes under control in the current context. License sales to the banking sector, which accounts for half of Systar's market, began to take off again due to an increased need for operational excellence, proactivity, compliance and reliability in banking operations, despite persistent budget constraints. License revenues for the optimization of IT infrastructures continued to show sustained growth across all industries, in particular because of the dynamics stemming from the adoption of "Cloud Computing" technologies.
- Revenue growth was fueled by license revenues, up 70% compared to the first half of the previous fiscal year. 50% of license sales were generated by new customers. Services revenues (training, consulting, and implementation assistance) increased 22% while recurring maintenance increased 4%.
- 50% of revenues came from France, 38% from EMEA out of France and 12% from North America.

Strong profit growth

- The combination of revenue growth and efficient cost control led to a solid increase in profitability. Current operating income stood at +1.3 M€ and net income at +1.1 M€, each approximately 2 M€ higher than during the 1st half of the previous fiscal year.
- These results further strengthen Systar's sound financial standing. On December 31, 2011, cash net of financial debts was up at +1.0 M€ vs. +0.2 M€ a year ago and stockholder equity was at 9.7 M€ vs. 7.9 M€.

Favorable perspectives

- The volume of deals in the pipeline is growing in Europe as well as in North America and even in the Asia-Pacific region where Systar has started to establish its presence.
- Despite the impact of the financial crisis, banks increase the resources allocated to Systar's solutions, because they help them to be proactive in key areas, such as relations with their customers, operational excellence, demonstrating their regulatory compliance and reducing operational risks.
- The new complexities resulting from the adoption of virtualization and Cloud Computing technologies generate an increased need for control and performance management software. It is a long term trend which should continue to have a positive impact on Systar's sales in the IT infrastructure market.
- For the past 4 years, Systar has chosen a strategy centered on innovation to overcome the challenges generated by the financial and economic crisis, reinvesting every year over 20% of its revenues in R&D in order to be able to seize new opportunities. This strategy will result in the launch of several new products in 2012, in particular to enable companies to better manage their IT flows and to control the skyrocketing storage costs they face due to the fast and continuously increasing volume of data to be stored (up approximately 30% per year).
- Starting in fiscal year 2012-2013, the growth in revenues observed since the beginning of 2011 should be reinforced by the launch of these new products. Systar has the necessary means to pursue commercial investments in order to gain profitable returns from its current R&D investments. While firmly focused on innovation and development, Systar remains vigilant on its cost structure, so as to combine revenue growth with higher margins.

Revenues for the third quarter of fiscal year 2011-2012 will be released on April 24, 2012
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