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Lectra remains confident in its medium-term growth prospects

03
May '08
The Board of Directors of Lectra, chaired by André Harari, reviewed the unaudited consolidated financial statements for the first quarter of 2008.

Orders Decline in a Seriously Worsening Macroeconomic Environment Coming after the excellent growth dynamic in orders booked in 2007 (despite first signs of a slowdown in Q4), Q1 2008 orders for new software licenses and CAD/CAM equipment were down 17% (–€4.1 million) relative to Q1 2007.

The most severe decline in orders occurred in the Americas. In Europe, orders were down, falling in all of the major countries.

The only source of satisfaction came from the Asia-Pacific region, where orders grew by 37%, with China, Japan, the Southeast Asian countries and India (where the company opened a subsidiary in Q4 2007) all contributed to this growth in orders.

Revenues Increase
With an average parity of $1.50/€1 for the first quarter, the U.S. dollar was down 13% compared to Q1 2007. This change mechanically reduced the various revenue components by 4% (-€2.3 million) and income from operations by €1 million.

Q1 2008 revenues amounted to €52 million, up 9% like-for-like compared to Q1 2007. Revenues from new systems sales (€26.6 million) increased by 16%, shipments of orders in the backlog at December 31, 2007 having made up for the weakness of orders during the quarter.

Recurring revenues (€25.3 million) increased by 4%. This slower than expected growth resulted from a rateof cancellations exceeding the statistical record, as a direct outcome of worsening macroeconomic conditions.


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