Sopheon pulling ahead of expectations

Sopheon, the product lifecycle software and services provider, is still in a period of change as it acts to improve its operations and business performance following a disappointing FY11 but today’s trading update for FY12 is another sign that it is continuing to head in the right direction. The company expects revenues for the year to December 31 to exceed market expectations of £12m – this would be a marked improvement on the £10.3m of FY11 which was a shade down on the previous year(see here). EBITDA looks like it will also be ahead, at £1.6m. Betters still, over 50% of the value of 2012 orders (excluding recurring revenues) has been derived from new customers, compared to just 21% in 2011. This gives the company something to build on. However, it still has a way to go and remains in the throes of determining the shape of the corporate restructuring aimed at reducing the deficit on its profits and loss account, and consolidating its shares.