QPR Software revises its estimate for full year results 2017, based on changed outlook in software license net sales. The Group also publishes preliminary information about its July-September financial results.
The value of offers out has developed well since the spring, but at the same time the sales cycles have become longer. In July-September, software license net sales were significantly below our expectations and lower than in the previous year. Unaudited, preliminary financial results show EUR 1,733 thousand net sales in July-September, and EUR 36 thousand operating loss.
In October-December, net sales and operating result are expected to significantly improve from July-September. This estimate is mainly based on already received orders to the last quarter of the year. QPR now estimates that its 2017 net sales will be on the same level as last year (+/-3% compared to 2016). Earlier, QPR estimated its net sales to grow compared to the previous year (2016: EUR 8,634 thousand).
Operating profit in 2017 is expected be 4-9% of net sales. Earlier, QPR estimated operating profit to remain slightly lower than in the previous year (2016: EUR 761 thousand, 8.8% of net sales).
QPR will publish Interim Report for January – September on Thursday, October 26, 2017.
QPR Software Plc
The Board of Directors