August 22nd - 2005
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Financial Results Q3 2004/05 |
(M€) |
Q3 2004/05 (*) |
Q3 2003/04 (*) |
Variation |
Variation |
---|---|---|---|---|
3 months |
3 months |
M€ |
% |
|
Revenue |
1.38 |
1.50 |
(0.12) |
(8.00%) |
Operating revenue |
1.58 |
1.55 |
0.03 |
1.90% |
Gross Margin |
0.93 |
1.25 |
(0.32) |
(25.60%) |
% Gross Margin |
67% |
83% |
||
Operating Income (Loss) |
(0.50) |
0.17 |
(0.67) |
|
Net Result |
(0.66) |
0.19 |
(0.85) |
(*) unaudited
For the third quarter of its fiscal 2004/2005, Mandriva reported operating revenue of 1.58M€, consolidated revenue of 1.38M€ and gross margin of 0.93M€, compared to 1.50M€, 1.55M€ and 1.25M€ respectively in the same period one year prior.
For the first time, the results (for Q3 2004/05 only) include the contribution of Conectiva, the recently acquired Brazilian subsidiary. If the pre-acquisition Conectiva results had been included in the comparison, the revenue decrease would be 15%.
The revenue decrease is principally due to the switch from a 6 month product release cycle to an annual release cycle. This switch was necessary to allow the accelerated improvement of product technology, and to optimize the selling period for the distribution network. Thus, the financial results compare a quarter without a product launch (2005) to a quarter with a product launch (2004).
The company continues the development of its enterprise based business. This caused strong growth in professional services (consulting, support and training), which now accounts for 44% of total revenue.
During this quarter, the operating loss was 0.50M€ as compared to a profit of 0.17M€ for the comparable period of the previous fiscal year. The net loss was 0.66M€ as compared to 0.19M€ profit. The loss is due primarily to the current investment in the development of the enterprise business.
The company does not expect a significant improvement in financial results before the October-December 2005 quarter. That period will have the launch of the new product version, Mandriva Linux 2006, and is expected to experience continued growth in the enterprise business.
About Mandriva
Mandriva is a leading Linux and Open Source Software (OSS) editor. Mandriva 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 67 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, the USA and Brazil. Since July 30th , 2001, the company is listed on the Euronext Marché Libre and OTC US
Euronext: ISIN: FR0004159382, Mnemo: MLMAN, Reuters: MAKE.PA, Bloomberg: MLMAN FP
Pink Sheets: MDKFF
Number of shares : 5,312,889
Contact Mandriva
Jacques Le Marois / Thierry Bossut
investors a mandriva dot com
For additional information: mandriva.com/company/investors/newsletter
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