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First Quarter Financial Results 2003/2004 (October - December 2003)
Revenue Growth and First Profitable Quarter Since 1999
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(ME) (Oct.-Dec.)
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31/12/2002(*)
3 months
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31/12/2003 (*)
3 months
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Variation
ME
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Variation
%
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Revenue
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1.31
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1.42
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+0.11
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+8.4%
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Gross Margin
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0.90
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1.16
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+0.26
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+28.9%
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% Gross Margin
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69%
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82%
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Operating result
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-0.59
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0.28
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+0.87
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Net Result
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-0.59
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0.27
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+0.86
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(*) unaudited consolidated figures
Consolidated revenues for the quarter were 1.42 ME, gross margin was 1.16 ME. Revenues grew 8.4% and gross margin grew 28.9% over the comparable quarter a year ago, even though the company suffered from the change in the dollar/euro ratio. Most revenue is in dollars.
Operating result was 0.28 ME, or 0.08 Euro per share, as compared to a loss of 0.59 ME one year earlier.
The positive result, the first since fiscal year 1998/99, reflects the turnaround accomplished by refocusing the company on its core business and higher gross margin revenue lines.
The company expects breakeven operations over fiscal year 2003/2004.
Because of the semi-annual product release cycle, historically, the company reports stronger results in the first and third quarters as compared to the second and forth quarters. Thus the company could report a loss in the next quarter.
About Mandriva
Mandriva is a leading Linux and Open Source Software (OSS) editor. (OSS source code is freely accessable according to the GPL, the General Public License). Mandrivasoft develops and distributes the Mandriva Linux operating system. Hundreds of developers around the world contribute to the continuous improvement of the product via Internet and contribute to its internationalization (with more than 63 languages available). The company also provides related on-line and off-line services including consulting, education, support, and the Mandriva Club.
Mandriva has offices in France, USA and Canada.
Since July 30th , 2001, the company is listed on Euronext March Libre and OTC US
Euroclear : FR00004159382 (previously 4477)
Reuters : MAKE.PA
OTCUS: MDKFF
Number of shares : 3,666,953
Contact Mandriva
Jacques Le Marois/ Thierry Bossut
investors @ mandrakesoft . com
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