Sopheon PLC Trading Update (2029D)
October 08 2018 - 1:00AM
UK Regulatory
TIDMSPE
RNS Number : 2029D
Sopheon PLC
08 October 2018
Embargoed Release: 07:00hrs Monday 8 Oct 2018
SOPHEON PLC
("Sopheon" or the "Company")
Trading Update - Record Third Quarter
Sopheon plc, the international provider of software and services
for complete Enterprise Innovation Management solutions, issues the
following trading update.
In our interim results statement issued on 23 August 2018, we
noted the continued momentum of the business, with revenue
visibility(1) for the year already at $27.2m. This, coupled with a
high level of ongoing sales activity, gave the Board confidence in
the outturn for the 2018 full year performance.
Since that statement, a number of further transactions have been
signed resulting in a record third quarter performance,
traditionally our quietest quarter due to the holiday period.
Included in the wins were two material contracts booked during the
final days of the quarter - one with a new enterprise customer, and
the other a license extension linked to strong recent adoption
performance at an existing customer. These two customers operate in
the chemicals and electronics sectors respectively. We are
therefore delighted to report that revenue visibility has now
broken through $30m. We view this continued delivery of commercial
results as emblematic of the growing maturity of the market that we
serve, and of Sopheon's rising reputation for value underpinned by
increasing adoption of our solutions.
Sales pipeline activity for the balance of the year remains
robust. The Board now expects the results for the year to exceed
current market expectations(2) .
For further information contact:
Barry Mence, Chairman + 44 (0) 1276
Arif Karimjee, CFO Sopheon plc 919 560
Carl Holmes/Giles Rolls (corporate
finance) + 44 (0) 20 7220
Alice Lane (ECM) finnCap 0500
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014.
About Sopheon. Sopheon (LSE: SPE) partners with customers to
provide complete Enterprise Innovation Management solutions
including software, expertise, and best practices, that enable them
to achieve exceptional long-term revenue growth and profitability.
Sopheon's Accolade solution provides unique, fully-integrated
coverage for the entire innovation management and new product
development lifecycle, including strategic innovation planning,
roadmapping, idea and concept development, process and project
management, portfolio management and resource planning. Sopheon's
solutions have been implemented by over 250 customers with over
60,000 users in over 50 countries. Sopheon is listed on AIM,
operated by the London Stock Exchange. For more information, please
visit www.sopheon.com.
(1) Revenue visibility is defined on page 6 of Sopheon's 2017
annual report which is available from the investor section of
www.sopheon.com.
(2) Market expectations mean the current forecasts from analysts
that cover Sopheon, being at this time finnCap and Progressive.
Links to these organizations are available in the investor section
of www.sopheon.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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