WAALWIJK, The Netherlands, October 19, 2010 /PRNewswire/ -- General
DOCDATA N.V. in Waalwijk closed the third quarter 2010 with a loss. The revenue in the third quarter 2010 however increased significantly compared to the second quarter 2010 and the third quarter 2009, a result of strong organic growth of the e-commerce service company combined with the revenue of the acquired activities of the former Dohmen Solutions. The loss is due to planned costs related to the acquisition of the activities of Dohmen Solutions and significant additional costs in Germany needed to support the exceptional revenue growth. In addition, in the third quarter 2010 some substantial non-recurring cost items have been recognised. Meanwhile, all necessary measures have been taken to minimise the impact of additional costs on the results during the fourth quarter 2010. The integration of activities of the former Dohmen Solutions is on schedule and the integration and restructuring costs are in line with the reported EUR 2.6 million effect on the operating result for the full year 2010 as announced in the press release of the half-year results 2010. It should be taken into consideration that the acquisition of these activities for a relatively low investment value was achieved in view of the expected high integration and restructuring costs. The revenue of IAI industrial systems in the third quarter 2010 was modest, in line with planning. Due to the planned delivery of systems in the fourth quarter 2010 compared to the third quarter 2010, IAI expects a clearly higher revenue and result. IAI however is dependent on its customers who should realise preparations to actually install and test the systems. This is not always the case, so no certainty can be derived from this expectation.
DOCDATA N.V. has maintained its strong financial position during the third quarter 2010. The solvency ratio has decreased slightly due to the loss in the third quarter 2010 compared to the ratio at the end of the first half-year per 30 June 2010, but it is still above 50% as per 30 September 2010. In combination with further investments in assets during the third quarter 2010, predominantly for the fulfilment activities in Germany, this has resulted in a decrease of the cash surplus position from EUR 3.3 million per 30 June 2010 to EUR 1.4 million per 30 September 2010.
The management of DOCDATA N.V. does not give any expectation regarding revenue and results for the whole year 2010. DOCDATA N.V. will announce the 2010 results on Thursday 24 February 2011 before opening of the stock exchange.
E-commerce service company Docdata
The commerce, payments and fulfilment activities show further growth in the third quarter 2010, both in terms of revenue and realised transaction numbers. The percentage of growth has clearly increased in the third quarter 2010. As expected, the revenue level of the media activities further declined in 2010 compared to last year, also as a result of the sale of the German replication activities in July 2010.
Technology company IAI industrial systems
In line with planning, IAI industrial systems has delivered a couple of systems during the third quarter 2010, compared to only one system during the third quarter 2009. Due to new signed orders in combination with deliveries during the third quarter 2010, the revenue value of the order book of IAI industrial systems has increased to EUR 11.3 million per 30 September 2010 (order book per 30 June 2010: EUR 8.6 million). From this order book about half of the revenue value is scheduled for delivery in the fourth quarter 2010.
General Meeting of Shareholders
Following the introduction of the Shareholder Rights Act on 1 July 2010, all listed public companies have to publish the agenda for a General Meeting of Shareholders with all supporting documents to the items on the agenda (for example the Annual Report) at least 42 days prior to the day of the General Meeting of Shareholders. Therefore the Management Board of DOCDATA N.V. has decided to reschedule the Annual General Meeting of Shareholders, which was originally scheduled for 18 May 2011, to 15 June 2011. For clarity it is noted that this is still a provisional date. The final date will be communicated at the announcement of the 2010 annual results in February 2011.
The listed DOCDATA N.V. exists of two lines of business:
E-commerce service company Docdata (http://www.docdata.com) is a European market leader with a strong basis in The Netherlands, Germany and the United Kingdom, and exists of four services:
- Docdata commerce - Docdata payments - Docdata fulfilment - Docdata media
Technology company IAI industrial systems ( http://www.iai-industrial-systems.com) is a high tech engineering company specialised in developing and building systems for very accurate and high speed processing of all kinds of products and materials. IAI delivers clients globally in the following sectors:
- securing and personalising of security documents - processing of solar cells and modules - processing of other materials and products
- 24 February 2011 Publication of 2010 results - 18 May 2011 (*) Interim notice first quarter 2011 - 15 June 2011 (*) /(**) Annual General Meeting of Shareholders 2010 - 21 July 2011 Publication of half-year results 2011 - 19 October 2011 (*) Interim notice third quarter 2011
(*) provisional date
(**) changed date
Corporate website: http://www.docdatanv.com
SOURCE: DOCDATA N.V.
CONTACT: Further information: DOCDATA N.V., M.F.P.M. Alting von Geusau,CEO, Tel. +31-416-631-100