Beruflich Dokumente
Kultur Dokumente
TSX: TWT
2010 2009
Revenues
Perpetual licenses $5,692 $3,991
Recurring licenses 1,260 902
Maintenance and other recurring services 7,354 7,032
Professional services 2,849 3,233
17,155 15,158
Q2 2010 HIGHLIGHTS
• Revenues of $17.2 million, up 13.2% from $15.2 million last year
• EBITDA increased to $2.7 million, or 15.9% of revenues from $2.3 million or 15.3% of revenues in 2009
• Net Income of $273,000 ($928,000 on a constant currency basis) compared to $621,000 in 2009
• Healthy balance sheet with working capital of $13 million
Geographic Distribution of Sales Revenues (in millions of US$)
Q1’09 Q2’09 Q3’09 Q4’09 Q1’10 Q2’10
Q2’2010 Q2’2009 25
3.1% 2.4% 20
North America
15 16.6 17.2
15.6 16.1 16.2
15.1
Europe 37.4% 40.8%
59.5% 56.8%
10
Rest of the World
5
Home sector revenues reached $10.7 million accounting for 62.2% of total revenues, up 33.4% over the previous year, fuelled by improving
economic conditions in the U.S. market, which was a key factor in helping secure a major contract with a leading retailer.
Manufacturing sector revenues accounting for 22.7% of total revenue, declined by 8.3% to $3.9 million and were down 20.4% sequentially over
good first quarter 2010 results. Customers in this sector generally remain cautious on long-term investments, which in turn impacts 20-20’s business
on a short term basis.
The Office sector remained soft reflecting continuing weak economic conditions with revenues reaching $2.6 million, down 10.9% over the previous
year and essentially flat on a sequential basis. As previously disclosed, the Company believes that this sector will lag the others in terms of recovery.
For the quarter, EBITDA increased to $2.7 million (15.9% of revenues) from $2.3 million (15.3% of revenues) a year ago. The negative impact
of currency exchange rates on operating income was significant and totaled $0.9 million. In constant dollars, the EBITDA margin for the quarter
would have exceeded 20%. Net earnings of $273,000 for the second quarter, or $0.01 per share, compared with net earnings of $621,000,
or $0.03 per share, a year ago. Earnings were negatively impacted by exchange losses of $975,000 ($243,000 in 2009) essentially attributable
to the translation of financial statements of our subsidiaries, which are denominated in European currencies.
Jean-François Grou
Chief Executive Officer
June 14, 2010
Certain statements contained in this fact sheet constitute forward-looking information within the meaning of securities laws. Implicit in this information, particularly in respect of future
operating results and economic performance of the Company are assumptions regarding projected revenue and expenses. These assumptions, although considered reasonable by the
Company at the time of preparation, may prove to be incorrect. Readers are cautioned that actual future operating results and economic performance of the Company are subject to a
number of risks and uncertainties, including general economic, market and business conditions and could differ materially from what is currently expected. For more exhaustive information
on these risks and uncertainties you should refer to our most recently filed annual information form which is available at www.sedar.com. Forward-looking information contained in this
document is based on management's current estimates, expectations and projections, which management believes are reasonable as of the current date. You should not place undue
importance on forward-looking information and should not rely upon this information as of any other date. While we may elect to, we are under no obligation and do not undertake to update
this information at any particular time, unless required by securities law.