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USU Software AG

USU Software AG continues positive revenue and earnings trend

Möglingen (ots)

- Positive development of product and solutions business continues
   - Below-average increase in Group costs
   - Further growth in profitability
   - Increase in liquidity and equity ratio
   - Management Board confirms intention to distribute a dividend
USU Software AG (ISIN DE000A0BVU28) today published its figures
for the first six months of 2006. The Company and its subsidiaries
(hereinafter also "USU" or "USU Group") improved Group revenues by
18.8% to EUR 11,442 thousand (PY: EUR 9,635 thousand). As a result of
this revenue growth accompanied by a relatively low increase in
costs, USU improved its earnings before interest, taxes, depreciation
and amortization (EBITDA) from EUR  15 thousand in the first half of
2005 to EUR 724 thousand in the first six months of 2006. Earnings
before interest and taxes (EBIT) rose by EUR 779 thousand to EUR 457
thousand (PY: EUR  322 thousand). The net profit for the period under
review amounted to EUR 658 thousand, compared with a net loss of EUR
-77 thousand in the corresponding period of the previous year.
Earnings per share in the first six months of 2006 amounted to EUR
0.07 (PY: EUR  0.01).
Positive development of product and solutions business continues
In the first half of 2006, the USU Group increased its license
revenue by 87.7% or EUR 719 thousand to EUR 1,539 thousand (PY: EUR
820 thousand) thanks to the sustained strength of its product and
solutions business. Maintenance revenue grew by 7.7% or EUR 88
thousand to EUR 1,227 thousand (PY: EUR 1,139 thousand). Consultancy
and other revenue improved by a total of 13.0% or EUR 1,000 thousand
to EUR 8,676 thousand (PY: EUR 7,676 thousand).
The level of USU Group revenues generated outside Germany
increased by 15.4% or EUR 151 thousand to EUR 1,129 thousand in the
period under review (PY: EUR 978 thousand).
Below-average increase in Group costs
Group costs rose by 9.2% or EUR 922 thousand to EUR 10,953
thousand (PY: EUR 10,031 thousand), thus increasing at a
significantly lower rate than revenues. The rise in the cost base was
due to additional marketing and selling expenses for trade fairs and
special events in connection with the market launch and penetration
of the internally developed Group products Valuemation, INSEL, USU
KnowledgeMiner, SolutionBase and AnswerBase, as well as the expansion
of the Group's consultancy business and the resulting utilization of
additional internal and external consultants. The Group's workforce
increased by 5.1% to 207 as of June 30, 2006 (PY: 197).
Further growth in profitability
As a result of the revenue growth accompanied by a relatively low
increase in costs, the USU Group improved its earnings before
interest, taxes, depreciation and amortization (EBITDA) from EUR  15
thousand in the first half of 2005 to EUR 724 thousand in the first
six months of 2006. At the same time, USU increased its earnings
before interest and taxes (EBIT) by EUR 779 thousand to EUR 457
thousand (PY: EUR  322 thousand). The consolidated net profit for the
first six months of financial year 2006 amounted to EUR 658 thousand,
compared with a net loss of EUR -77 thousand in the corresponding
period of the previous year. Earnings per share in the reporting
period amounted to EUR 0.07 (PY: EUR  0.01).
Increase in liquidity and equity ratio
The USU Group's total liquidity (cash and cash equivalents and
investments) increased to EUR 16,255 thousand as of June 30, 2006
(December 31, 2005: EUR 15,721 thousand). Shareholders' equity of the
USU Group increased to EUR 36,683 thousand (December 31, 2005: EUR
36,092 thousand) due to the net profit generated for the period. At
the same time, USU significantly reduced liabilities to EUR 5,817
thousand (December 31, 2005: EUR 6,894 thousand). As a result, the
equity ratio rose from 84.0% as of December 31, 2005 to 86.3% at the
end of the second quarter of 2006.
Management Board confirms intention to distribute a dividend
The Management Board is confident that the USU Group will continue
the positive development in its product and solutions business over
the next two quarters of the current financial year. Revenue and
profit growth will be driven in particular by license business
involving internally developed software products. In the Management
Board's opinion, the recent publication of the "Forrester ITAM Wave"
study by the market research company Forrester, which states that
USU's Valuemation product suite puts it among the five leading global
providers in the area of IT asset management, will result in positive
effects for the further marketing of the software for end-to-end IT
management with regard to both domestic sales in Germany and
international sales via the Company's partners. USU also intends to
expand its sales and marketing activities for the newly developed
Group products in the area of knowledge management on a targeted
basis.
For 2006 as a whole, the Management Board therefore confirms its
targets of revenue growth in excess of market performance and an
above-average increase in the consolidated profit generated by the
Group, and reiterates its intention to distribute a dividend for the
first time for the current financial year.

Contact:

USU Software AGUSU Software AG
Investor RelationsCorporate Communications
Falk SorgeDr. Thomas Gerick
Tel.: 0 71 41 / 48 67 351Tel.: 0 71 41 / 48 67 440
Fax: 0 71 41 / 48 67 108Fax: 0 71 41 / 48 67 909
E-Mail: f.sorge@usu-software.deE-Mail: t.gerick@usu-software.de

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