USU Software AG / Quarter Results/Share Buyback 29.05.2008 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Möglingen (Germany), May 29, 2008. - In the first quarter of 2008, USU Software AG recorded strong performance in the Service Business division while the Product Business division, which tends to be more volatile, was initially muted. Overall, USUs Group sales amounted to EUR 7,349 thousand (Q1 2007: EUR 7,576 thousand). The USU Groups earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 280 thousand in the period under review (Q1 2007: EUR 613 thousand), its earnings before interest and taxes (EBIT) totaled EUR -14 thousand (Q1 2007: EUR 320 thousand) and the net profit for the quarter reached EUR 44 thousand (Q1 2007: EUR 436 thousand), which corresponds to earnings per share of EUR 0.00 (Q1 2007: EUR 0.04). The Group liquidity of USU Software AG saw extremely positive changes. In line with this, cash and cash equivalents rose to EUR 10,985 thousand as of March 31, 2008 from EUR 9,921 thousand as of December 31, 2007. Equity saw a slight increase to EUR 46,545 thousand (December 31, 2007: EUR 46,479 thousand) compared with the reporting date December 31, 2007 which was mainly due to the generated net profit for the quarter. With total assets of EUR 54,925 thousand (December 31, 2007: EUR 53,269 thousand), the equity ratio totaled 84.7% on March 31, 2008 (December 31, 2007: 87.3%). Following the muted start to fiscal year 2008, the Management Board of USU Software AG expects licenses revenues to increase in the second quarter of 2008 based on the positive feedback of numerous interested parties. Maintenance and consultancy-related orders on hand grew at the same time, totaling EUR 13,394 thousand (Q1 2007: EUR 10,093 thousand) as of March 31, 2008 and thus up EUR 3,301 thousand or 32.7% year-on-year. In the historically stronger second half of the year, the international partner business is expected to contribute to expansion of the Product Business division chiefly in high-margin licensing and maintenance income in addition to the domestic business. Overall, the Management Board of USU Software AG confirms its target of above-average sales growth for the relevant market segments for the year as a whole and 2009, as well as an above-average rise in EBITDA. Furthermore, the Management Board of USU Software AG has decided, with the approval of the Supervisory Board on May 29, 2008 based on the sound capital resources available and changes in liquidity, to acquire up to 2.52% of the Companys share capital, i.e. up to 260,000 shares of the Company, in the period from May 29, 2008 to January 11, 2009 via the electronic marketplace of the Frankfurt Stock Exchange (XETRA). At the current share price, this corresponds to a total of around EUR 1 million. This share buyback is based on the authorization granted by the Annual General Meeting of USU Software AG on July 12, 2007 to acquire own shares in accordance with Article 71 (1) No. 8 of the Aktiengesetz (AktG German Stock Corporation Act). Shares bought back in this way are to be used to reduce the share capital. Landesbank Baden-Württemberg (LBBW) has been commissioned to carry out the buybacks, complying with the trading conditions stipulated under Article 5 of European Commission Regulation (EC) No. 2273/2003 of December 22, 2003. In accordance with the provisions of Article 5 (3) of this Regulation, more than 25% may be acquired per day but no more than 50% of the average daily transaction volume of USU shares. The average daily transaction volume must be derived from the average daily trading volume on the 20 trading days prior to the purchase date. LBBW will decide on when to acquire the Company shares independently, without influence and not bound by instructions insofar as the legal guidelines and requirements of USU Software AG regarding volume and validity of the orders are complied with. The payment in exchange for acquisition of the share may neither exceed the average closing price of the Companys shares in electronic trading on the Frankfurt Stock Exchange during the ten trading days preceding the acquisition by 10% nor may it fall below this price by 10%. If the authorization to acquire own shares in accordance with Article 71 (1) No. 8 of the AktG dated July 12, 2007 is replaced at the next Annual General Meeting on June 19, 2008 by a new authorization, the share buyback program will also be able to continue after January 11, 2009. USU Software AG will regularly publish information on the progress of the share buyback program on the Companys homepage at www.usu-software.de. Contact: USU Software AG Investor Relations Falk Sorge Tel.: +49 (0) 71 41 - 48 67 351 Fax: +49 (0) 71 41 - 48 67 108 E-mail: f.sorge@usu-software.de USU Software AG Corporate Communications Dr. Thomas Gerick Tel.: +49 (0) 71 41 - 48 67 440 Fax: +49 (0) 71 41 - 48 67 909 E-mail: t.gerick@usu-software.de DGAP 29.05.2008 --------------------------------------------------------------------------- Language: English Issuer: USU Software AG Spitalhof 71696 Möglingen Deutschland Phone: +49 (0)7141 4867-0 Fax: +49 (0)7141 4867-108 E-mail: investor@usu-software.de Internet: www.usu-software.de ISIN: DE000A0BVU28, DE000A0LR4U4, DE000A0LR7V2 WKN: A0BVU2, A0LR4U,A0LR7V Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart; Freiverkehr in Berlin, München, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: USU Software AG: USU publishes figures for Q1 2008 and announces Management Board resolution to buy back own shares
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