FINaNCIaLS
Arrow blunted
SOFTWaRE cont... month Mkt cap
Price (4
%
)
10.03.08 - 10.04.08
change 4
P/E ratio
m
and services portfolio in our history. From the consumer to the small- and
medium-sized business and up through the enterprise, we are delivering to
Sun Microsystems 9.96 -4 7897 18
the market high-quality, innovative IT solutions faster than ever before. These
Sybase 18.57 10 1656 18
offerings remain squarely aligned with top CIO spending priorities and are
optimized to help businesses manage their information and drive IT efficiency
Symantec 11.00 1 9310 45
throughout their organizations.”
Vignette 7.39 -11 182 13
“Looking ahead, EMC’s growth opportunities are many as we continue to
aggressively strengthen our core business, grow into new and adjacent markets
and expand our presence around the globe,” Tucci says. Compared with the
first quarter of 2007, EMC systems revenue increased 10% and represented
IT Services Mkt cap
Price (4
% month
) P/E ratio
41% of total first-quarter revenue. Software license and maintenance revenue
10.03.08 - 10.04.08
change 4m
increased 18% and accounted for 41% of total revenue. Other services
revenue grew 30% and represented 18% of total revenue. From a geographic
Beko 3.15 2 57 33
perspective, revenue from operations outside of North America grew 21% year-
S&T 38.02 140 43
over-year, driven by double-digit revenue growth in each of EMC’s Europe,
Middle East and Africa, Asia-Pacific and Japan and Latin America regions.
Basware 7.50 -3 86 21
Saying it has been stung by a slowing economy, arrow Electronics reported
Satama/Trainers’ House 1.17 -3 80 10
that profits declined 11% in the first quarter, well-below expectations by
analysts. Worse, the company forecasts difficult times ahead. In one of its
Solteq 1.49 -5 18 17
most disappointing quarters in years, Arrow said it earned $85.9m (€55.18m)
SysOpen Digia 2.81 -2 59 10
in the quarter, down from $96.3m (€61.85m) in the same period in 2007.
“The first quarter was a challenging one for us and did not meet all of our
TietoEnator 16.77 5 1208 5
expectations,” Arrow chief executive William E. Mitchell said in a statement.
TJ Group
Mitchell said the company saw “increasingly challenging market conditions
Altran 6.00 33 709 33
in the last few weeks of the quarter, primarily in our enterprise computing
solutions business,” referring to Arrow’s computer products business. In direct
Atos Origin 37.57 17 2619 54
remarks, Mitchell said that the company anticipates it will be “under pressure
Bull 2.90 27 281 58
worldwide” in the second quarter, and that the outlook remains “volatile.”
The storage software business was up, but sales of servers was weak. “Despite
Business & Decision 12.35 -29 108 10
current market weakness, we continue to focus on investing in this business
Capgemini 39.03 18 5678 13
for the long term,” Arrow said.
Cegedim 59.36 14 554 15
avnet, in its most recent quarter, did not fare much better. Avnet said sales Coheris Atix 3.10 6 17 12
in its fiscal third quarter were about $4.42bn (€2.84bn), lower than the $4.47bn
Devoteam 20.95 5 206 11
(€2.87bn) company forecast. Avnet shares plunged on the news. CEO Roy
Vallee said in a statement that the company was “extremely disappointed”
GFI Informatique 4.42 21 240 16
with the quarter’s results, with below plan results at both of the company’s
Sopra 47.32 6 552 10
primary operating groups, electronics marketing and technology solutions.
Steria 21.38 20 602 8
Strong consumer sentiment in the Germany market may have helped medion
Umanis 0.71 6 17 -
aG. According to preliminary unaudited figures, earnings before interest and
Valtech 0.38 -7 34 9
taxes (EBIT) for the first quarter of 2008 will improve to around. €6.7m from
the prior-year total of €4.6m. Due to a positive financial result of €0.5m in
Cenit 0.04 -33 1 -
2008 after a negative financial result of €-0.1m in 2007, earnings before taxes
GFT 0.00 -4 12 -
will rise even stronger than EBIT from €4.5m in 2007 to approx. €7.2m in Q1
2008. Rising wages and the lowest unemployment in 16 years are cushioning
IDS Scheer 7.92 -7 255 11
the impact on consumers of faster inflation and slowing economic growth.
Pixelpark 0.62 0 10 21
While industrial production unexpectedly rose in February and manufacturing
growth accelerated last month, business confidence fell more than economists
Plaut 0.69 0 10 21
forecast this month amid a global credit squeeze. Siemens 74.40 10 68017 17
SinnerSchrader 1.78 13 21 20
As a consequence, Medion’s earnings per share will increase to around. €0.11 in
Q1 2008, up from €0.06 in Q1 2007. Sales in Q1 2008 will rise to €420m from
Synergon* 4.99 0 48 24
€406m in the previous year. The more attractive product portfolio played a
decisive role in the significant improvement in earnings. The complete report

for Q1 2008 will be published on May 14 as announced previously.
S

ource: Thomson Financial Datastream
*Share price now shown in Euros
02 may 2008 29
It0808 - 26-31_financials.indd 29 30/04/2008 11:47:47
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