USU Software AG announced consolidated earnings results for the second quarter and six months ended June 30, 2016. For the six months, the company reported lifted its revenue by 13.7% year-on-year to EUR 34,031,000 compared to EUR 29,925,000 a year ago. Earnings before interest, taxes, depreciation and amortization (EBITDA) by 10.0% against the prior-year period to EUR 3,895,000 compared to EUR 3,541,000 a year ago. A 5.6% increase in earnings before interest and taxes (EBIT) was EUR 2,594,000 compared to EUR 2,458,000 a year ago. Net profit was EUR 2,258,000 compared to EUR 2,373,000 a year ago. This represents a slight decrease of 5.1% on the profit for the prior-year period. Earnings per share thus declined from EUR 0.23 in the previous year to EUR 0.21 in the reporting period. The company lifted its earnings before interest and taxes adjusted for extraordinary effects relating to acquisitions (adjusted EBIT) by 15.0% year-on-year to EUR 3,328,000 compared to EUR 2,894,000 a year ago. Adjusted net profit by 7.2% compared with the first half of 2015 to EUR 2,970,000 compared to EUR 2,771,000 a year ago. Its adjusted earnings per share accordingly increased from EUR 0.26 in the previous year to EUR 0.28 in the reporting period.

For the second quarter, revenue of EUR 17,074,000 compared to EUR 15,856,000 a year ago, the company in conjunction with its subsidiaries generated organic revenue growth of 7.7% compared with the same quarter of the previous year. This was chiefly due to the strong consulting business, which benefited from a high level of orders on hand and improved capacity utilization. Earnings before interest, taxes, depreciation and amortization (EBITDA) was almost on a level with the previous year at EUR 2,242,000 compare to EUR 2,253,000 a year ago. Earnings before interest and taxes (EBIT) declined from EUR 1,715,000 in the second quarter of 2015 to EUR 1,585,000, a decrease of 7.6%. At EUR 1,376,000, Group's net profit (IFRS) was down 4.7% on the prior-year figure compared to EUR 1,444,000 a year ago. This gives earnings per share of EUR 0.13 compare to EUR 0.14 a year ago. Adjusted earnings before interest and taxes (adjusted EBIT) developed encouragingly, rising by 7.9% to EUR 1,960,000 compared to EUR 1,817,000 a year ago. Adjusted consolidated net profit came to EUR 1,740,000 compared to EUR 1,546,000 a year ago, which corresponds to growth of 12.5% compared with the year-earlier period. Adjusted earnings per share remained flat at EUR 0.14.

For the fiscal year 2016, the group of an increase in revenue to EUR 71 million to EUR 75 million for the current fiscal year together with a strong rise in adjusted EBITDA, a key earnings ratio, to between EUR 9 million and EUR 10.5 million.

For the end of 2017, revenue is expected to increase to over EUR 100 million, including around EUR 15 million in growth through acquisitions, with further expansion in the operating margin on the basis of adjusted EBIT.