Axway Software SA reported consolidated earnings results for the year ended December 31, 2017. For the year, the company reported revenue of EUR 299.8 million against EUR 301.1 million a year ago. Profit on operating activities was EUR 40.5 million against EUR 50.8 million a year ago. Profit from recurring operations was EUR 30.7 million against EUR 41.8 million a year ago. Operating profit was EUR 27.7 million against EUR 35.1 million a year ago. Net profit was EUR 4.4 million against EUR 31.5 million a year ago. Basic net earnings per share were EUR 0.21 against EUR 1.51 a year ago. Net cash from operating activities was EUR 29.6 million against EUR 38.4 million a year ago. Free cash flow was at EUR 24.8 million, down slightly from the EUR 27.9 million of 2016. Net debt was at EUR 20.6 million versus a net treasury of EUR 16 million in the prior year.

For the year 2018, the company targeted effective tax rate of between 20% and 22% before any releases of or activation of the deferred tax assets.