Global Graphics Reports Results for the Third Quarter and the First Nine Months of 2012

Comparisons for the quarter ended 30 September 2012 with the third quarter of the financial year ended 30 September 2011 include:

• sales of Euro 2.7 million this quarter (Euro 2.5 million at Q3 2011 exchange rates) compared with Euro 2.0 million in Q3 2011, or an increase of 34.2% at current exchange rates, and of 23.6% at constant exchange rates;

• an operating profit of Euro 0.3 million this quarter, compared with an operating loss of Euro 0.1 million in Q3 2011;

• an adjusted operating profit (EBITA) of Euro 0.4 million this quarter, compared with an adjusted operating loss of Euro 0.2 million in Q3 2011;

• a net profit of Euro 0.7 million this quarter (or a net profit of Euro 0.07 per share), compared with a net loss of Euro 0.1 million 2011 in Q3 2011 (or a net loss of Euro 0.01 per share); and

• an adjusted net profit of Euro 0.7 million this quarter (or an adjusted net profit of Euro 0.07 per share), compared with an adjusted net loss of Euro 0.2 million in Q3 2011 (or an adjusted net loss of Euro 0.02 per share).

Compared with its consolidated results for the quarter ended 30 September 2011, the Company’s consolidated results for the quarter ended 30 September 2012 were favorably impacted by the intake during the quarter of two significant bulk orders (similar annual bulk orders had been received in Q2 2011 and in Q4 2011, respectively), and by the repayment to the Company’s UK subsidiary of the R&D tax credit for the year ended 31 December 2011 in late September 2012 for approximately Euro 0.4 million (the repayment of the R&D tax credit for the year ended 31 December 2010 had been made to that company in early April 2011 for approximately Euro 0.3 million), and were unfavorably impacted by the Euro 0.1 million amount expensed during the quarter with regards to the estimated effect of the completion of the liquidation process of the Company’s Indian subsidiary, which is expected in the current quarter.

Nine-month period ended 30 September 2012

Comparisons for the nine-month period ended 30 September 2012 with the same period of the financial year ended 31 December 2011 include:

• sales of Euro 7.2 million in the first nine months of 2012 (Euro 6.7 million at 2011 exchange rates) compared with Euro 6.2 million in the first nine months of 2011, or an increase of 15.7% at current exchange rates and of 6.7% at constant exchange rates;

• an operating loss of Euro 0.1 million in the first nine months of 2012, compared with an operating loss of Euro 0.4 million in the first nine months of 2011;

• a nominal adjusted operating profit (EBITA) in the first nine months of 2012, compared with an adjusted operating loss of Euro 0.7 million in the first nine months of 2011;

• a net profit of Euro 0.2 million in the first nine months of 2012 (or a net profit of Euro 0.02 per share), compared with a net loss of Euro 0.3 million 2011 in the first nine months of 2011 (or a net loss of Euro 0.03 per share); and

• an adjusted net profit of Euro 0.2 million in the first nine months of 2012 (or an adjusted net profit of Euro 0.02 per share), compared with an adjusted net loss of Euro 0.5 million in the first nine months of 2011 (or an adjusted net loss of Euro 0.05 per share).

Compared with its consolidated results for the nine-month period ended 30 September 2011, the Company’s consolidated results for the nine-month period ended 30 September 2012 were favorably impacted by the intake during that period of a significant bulk order (a similar annual bulk order had been received in Q4 2011), and were unfavorably impacted by the Euro 0.1 million amount expensed during the quarter ended 30 September 2012 with regards to the estimated effect of the completion of the liquidation process of the Company’s Indian subsidiary, which is expected in the current quarter, as well as by the amount of Euro 0.2 million recognized as other operating income in the nine-month period ended 30 September 2011 (nil in 2012).

Detailed discussion of the Company’s financial performance

A detailed discussion of the Company’s financial performance during the quarter and the nine-month period ended 30 September 2012, including a comparison with the previous financial year’s comparative periods, is set out in note 2 to the interim management report of the Company’s Board of Directors for the quarter and the nine-month period ended 30 September 2012, which is attached to this press release, together with the condensed consolidated interim financial statements for the same periods.

Fourth quarter and full year 2012 results announcement

Global Graphics expects to announce its consolidated results for the quarter and the financial year ending 31 December 2012 on Wednesday 13 February 2013 before market opening.

Pompey (France), Friday 26 October 2012 - GLOBAL GRAPHICS SA (NYSE-Euronext: GLOG), experts in developing e-document and printing software, announces its consolidated interim results for the quarter and the nine-month period ended 30 September 2012. 

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