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SYSTRAN : First Quarter 2013 Revenue Release

05/02/2013 | 01:00pm US/Eastern

First Quarter 2013 Revenue Release

May 3, 2013 - SYSTRAN today announced its consolidated financial results for the first quarter ended March 31, 2013.

Consolidated Data
(in thousands of Euros)
2013 In %
of total
2012 In %
of total
Annual change
2013/2012
Software Publishing 1,025 45.7 % 1,274 49.9 % -19.5 %
Professional Services 1,219 54.3 % 1,280 50.1 % -4.8 %
Consolidated Sales 2,244 100.0 % 2,554 100.0 % -12.1 %

  

 First Quarter 2013 Activities

During the first quarter, SYSTRAN sales amounted to 2,244 K? as compared with 2,554 K? for the first quarter of 2012, a 12.1% decrease.

License sales amounted to 1,025 K? as compared with 1,274 K? for the first quarter 2012 and represent 45.7% of total sales. Sales for the Professional Services business unit amounted to    1,219 K? as compared with 1,280 K? for the first quarter 2012.

 2013 Outlook

In 2013 SYSTRAN plans to expand the sales team to develop revenue in all business segments. SYSTRAN will also launch new versions of its server solutions and cloud services for corporate customers.

 Dispute with the European Commission

On April 18, 2013, the European Court of Justice has set aside the judgment of the European General Court ordering the European Commission to pay SYSTRAN a lump-sum amount of ?12 million as compensation for the material damage sustained by it.

The European Court of Justice has declared that "the General Court should have declined jurisdiction and invited the parties to refer to the competent national courts, designated by the various contracts concerning the SYSTRAN machine translation system, concluded by SYSTRAN and the Commission" (Press release dated April 18, 2013 from the Court of Justice of the European Union).

Furthermore, the European Court of Justice has given final judgment on the dispute and has declared and judged:

  1. The judgement of the European General Court dated December 16, 2010 in the case T-19/07 (SYSTRAN S.A. and SYSTRAN Luxembourg / Commission) is annulled.
  2. The action for damages of SYSTRAN SA and SYSTRAN Luxembourg is dismissed.
  3. SYSTRAN S.A. and SYSTRAN Luxembourg will have to pay the cost incurred by the European Commission before the European Court of Justice and also before the European General Court.

SYSTRAN will reimburse 12 million Euros to the European Commission. This amount was kept by the company and this refund will not endanger the company.

 About SYSTRAN

SYSTRAN is the market historic provider of language translation software products and solutions for the desktop, enterprise and Internet.

Use of SYSTRAN products and solutions enhance multilingual communication and increase user productivity. SYSTRAN delivers real-time language solutions for search, content management, online customer support, intra or inter company collaboration, and eCommerce.

With the ability to facilitate communication in 52+ language combinations and in 20 vertical domains, SYSTRAN's software is the choice of leading global corporations, portals and public agencies.

SYSTRAN has been pioneering advances in machine translation for over four decades. Its latest achievement, SYSTRAN Hybrid MT, combines the predictability and language consistency of rule-based machine translation with the fluency of statistical MT.

SYSTRAN is headquartered in Paris, France with a North American office located in San Diego, California, USA.

SYSTRAN (Code ISIN FR0004109197, Bloomberg: SYST NM, Reuters: SYTN.LN) is listed on EuroNext Paris, Compartiment C. 

For more information, visit www.systransoft.com:
http://www.systransoft.com/

Contact 

Dimitris SABATAKAKIS, Chairman & CEO
Telephone: +33 (0)1 44 82 49 00   Fax: +33 (0)1 44 82 49 01  
Email: sabatakakis@systran.fr

Results for the first semester of 2013 will be announced on August 2, 2013.

This Press Release is available for download at: 
http://www.systransoft.com /systran/investors/press-releases

SYSTRAN First quarter 2013 revenue release:
http://hugin.info/141962/R/1697918/559699.pdf



This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: SYSTRAN via Thomson Reuters ONE

HUG#1697918
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