Hoofddorp, May 5, 2008 - Micro Focus International plc ("Micro Focus" or "the Group", LSE: MCRO.L), the Enterprise Application management and modernisation software company, provides a pre-close update on trading for the twelve months to 30 april 2008, ahead of expectations.At the time of the Q3 IMS on 12 February 2008, Micro Focus stated that second half year revenues were expected to marginally exceed first half year revenues (1H08: $108.9m). Following a strong fourth quarter, second half revenues have further exceeded expectations. Total revenues for the full year are expected to be in the range of $226 million to $228 million. These expected results reflect a combination of improved operational performance and the positive impact of exchange rate movements. Micro Focus expects to report underlying organic growth, at constant currency, for the period of approximately 15%.
In line with previous guidance, EBITDA margins are expected to be maintained at a broadly consistent level in the second half to that of the first half (1H08: 38.4%), resulting in an EBITDA margin for the year slightly higher than that of the prior year (FY2007: 38.0%).
The Company's closing cash position at 30 April 2008, is expected to be approximately $92 million.
Stephen Kelly, Chief Executive Officer of Micro Focus International plc, commented: "We are pleased with the progress achieved in the year across the Group and the solid level of organic growth. In particular we are encouraged by the operational outperformance and sustained margin performance in the second half."
Further details will be provided at the preliminary results for the twelve months ended 30 April 2008, on Friday 27 June 2008.
In a separate release today, Micro Focus has announced a recommended cash offer for the entire issued and to be issued share capital of NetManage, Inc. the NASDAQ-listed software provider of technologies to transform core applications into new Web-based business solutions.
About Micro Focus Micro Focus (LSE: MCRO.L), is a London Stock Exchange-listed software company headquartered in the UK which provides innovative software that allows companies to dramatically improve the business value of their enterprise applications. Micro Focus Enterprise Application Modernisation and Management software enables customers' business applications to respond rapidly to market changes and embrace modern architectures with reduced cost and risk. For additional information please visit
www.microfocus.com.
Voor meer informatie:
Lammers van Toorenburg Benelux PR Anja Breunis
Tel.: +31 (0)30 656 50 70
E-mail:
anja@lvtpr.nl