XIRING : Very good results for the first half of 2011
09/13/2011| 11:50am US/Eastern
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Regulatory News:
H1 2011 Operating result: ?1.56m, a 55%increase
(operating margin of 17.7%)
H1 2011 Net result: ?2.9m
XIRING (Paris:ALXIR), a security solutions provider for electronic
transactions, announces for the first half of the 2011 financial year an
operating result of ?1.56m, representing 17.7% of turnover, which is a
significant increase from the same period in 2010.
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in ?m, not audited
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H1 2011
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restated*
H1 2010
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variation
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released H1 2010
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Turnover
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8.8
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7.9
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+11%
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9.5
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Operating result
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1.56
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1.0
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+55.2%
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1.0
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% of turnover
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17.7%
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12.7%
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10.6%
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Current result before taxes
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1.64
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1.15
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+43.3%
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1.15
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% of turnover
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18.7%
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14.5%
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12%
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Exceptional result
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1.27**
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0
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0
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Net result
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2.9
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1.0
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+191.6%
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1.0
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* The released H1 2010 accounts included a remainder from the
management of the end of a bank authentication contract completed on
behalf of the purchaser of this activity.
** Write-back of the warranty provision granted upon transfer of the
bank authentication activity.
During the first half of the year 2011, XIRING achieved a turnover of
?8.8m, representing an increase of 11% compared with the restated
turnover of 2010. The operating result amounted to ?1.56m, representing
an operating margin of 17.7%. Net income was of ?2.9m after a provision
write-back of ?1.3m.
Georges Liberman, Chairman and CEO, stated: "The results of the first
half of 2011 are indeed in significant increase. The new
strategic-development plan set up last year in order to sustain growth
for the company for the years 2011 to 2014 is in line with its roadmap".
Highlights
XIRING's e-Health activity was sustained during the period with the
launch of PAYPHARMA, the first bank-card payment XIRING solution, the
launch of a complete line of solutions aimed at healthcare centers, and
the pursuit of VITAL'ACT new generation sales, the portable solution for
healthcare professionals.
Concerning the e-ID activity, given the recent and numerous attacks on
public IT, the Council of Ministers of May 25, 2011, decided to
strengthen the security of workstations in French government offices.
This decision is going to accelerate the development of the French
secure smartcard readers market on which XIRING is already well
positioned, with the equipment of the French Gendarmerie Nationale
in 2010 and the win of a public call for tenders by the French UGAP
(Government Purchases Agency) in February 2011.
The French National e-ID card scheme also passed a significant hurdle
with the adoption of the legislative bill by the French National
Assembly on July 7th and its submission to the Senate for review. The
final vote should take place during the fourth quarter.
A solid financial position
Without financial debt, and with ?20.8m in equity and cash flow of ?8.6m
(after the payment of the 2010 dividend), XIRING has a very solid
financial position.
Outlook
XIRING is confident as regards the development of its markets. e-Health
schemes are starting up in several European countries, the French
securing of government workstations is expanding, the launch of the
French National e-ID card is imminent and a smart-card driving license
should be available in France in early 2013. All of these prospects
confirm XIRING's growth potential.
Next press release: October 18, 2011: Publication of turnover
for the 3rd quarter of 2011
About XIRING
XIRING, a security solutions provider for electronic transactions,
develops security software embedded in smart card readers and terminals
for strong authentication and electronic signatures. XIRING is the
market leader in SESAM-Vitale healthcare terminals for generating and
signing electronic medical claim forms or for updating healthcare cards
in France and also works alongside authorities in the field of
healthcare system dematerialization in international markets. In the
area of electronic identity (e-ID), XIRING proposes a broad range of
solutions for public authority staff and citizens to meet the latest
market challenges with secure electronic identity documents systems:
electronic national identity cards, electronic passports, public
transport cards and professional cards. XIRING is listed on the
Alternext compartment of the NYSE-Euronext Paris stock exchange. For
further information: www.xiring.com
XIRING Press relations:
Pauline CIEUTAT Tel: +33 (0)1 46 25
80 23
pressoffice@xiring.com
or
ACTIFIN:
Anaïs
de SCITIVAUX Tel: +33 (0)1 56 88 11 14
adescitivaux@actifin.fr
© Business Wire 2011
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