The B.o.D. approves the six-monthly results at 30th June 2010

The Board of Directors of CAD IT S.p.A., leader in the Italian financial software market, met today to approve the Six-Monthly Report at 30^th June 2010.

The main Consolidated Profit and Loss Account results relating to the first half of 2010 are as follows:

• Value of Production of Euro 26 million (Euro 27.3 million in the first six months of 2009). During the six months in question the internal work capitalized for the development of new products (internal work capitalized under fixed assets) came to Euro 2.1 million compared to Euro 1.5 million in the same period last year;
• Gross Operational Result (EBITDA) of Euro 2 million (7.8% of the Value of Production), compared to Euro 4.1 million in the first six months of 2009, corresponding to 15.1% of the Value of Production;
• Operational Result (EBIT) of Euro 0.1 million (0.3% of the Value of Production) compared to Euro 2.4 million in the first six months of 2009, corresponding to 8.7% of the Value of Production;
• Result of the period net of pre-third party share stood at Euro -0.3 million (-1% of the Value of Production) after the calculation of taxes for Euro 0.6 million, compared to a net profit of Euro 1.4 million (5.2% of the Value of Production) in the same period last year.

The short-term Net Consolidated Financial Position at 30^th June 2010 is in credit by Euro 3.7 million compared to the Euro 5.1 million at 31^st December 2009 after the payment of dividends for Euro 2.2 million.