Revenues for Fiscal Year 2010/2011: €20.1 Million (+5%)

Growth accelerates during the second half: revenues up 11%

(PresseBox) ( ST. CLOUD, France and Vienna, VA, )
Systar (ISIN: FR0000052854 - SAR), a leading provider of performance management software, today reported its revenues for fiscal year 2010/2011 ending June 30, 2011.

As anticipated, momentum was positive in the 4th quarter 2010/2011 (April to June 2011) where consolidated revenues reached €7.3 million, up 12% compared to the same period of the previous fiscal year. During the second half, revenues grew 11%.

Consolidated revenues for fiscal year 2010/2011 reached €20.1 million, up 5% compared to the previous fiscal year. During the fiscal year, 29% of consolidated revenues came from licenses, 39% from recurring maintenance and 32% from accompanying services.

Sales growth was supported by the dynamics stemming from Cloud Computing but continued to be impaired by the length and complexity of decision cycles, particularly in the banking sector which accounts for more than half of Systar's sales. The high proportion of recurring maintenance and accompanying services is a trend which has been observed since the beginning of the crisis and demonstrates that customers, particularly in the banking sector, continue to give priority to existing projects and allocate a lesser part of their budgets to new investments.

In geographic terms, 52% of this fiscal year's revenues came from France, 30% from Europe out of France and 18% from North America. Revenues increased in North America (+25%) while increasing by 2% only in Europe (-3% in EMEA out of France, and +4% in France).

Cash net of financial debts improved by 20% during the fiscal year, moving from +€2.9 million on June 30, 2010 to +€3.5 million on June 30, 2011.

Perspectives

- Budget constraints resulting from the crisis continue to weigh on the customers' ability to invest in new projects and to slow down contracts closings, particularly in the banking sector.
- However, the widespread use of virtualized infrastructures and the transformation dynamics stemming from Cloud Computing create new complexities that customers must control, which in turn, generates an increased need for control and performance management that will support the adoption of Systar's solutions.
- With positive net cash, substantial equity, financing in place and a strong proportion of revenues with high visibility, Systar benefits from a solid financial base to pursue its growth.

2010/2011 income will be released on September 14th, 2011 before Euronext opening
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