Solid end at Micro Focus

12th May 2010 07:14

Software group Micro Focus expects to report total revenues of approximately $432m ($274.7m) for the last six months after a 'solid' end to the period.Group EBITDA margin, excluding exceptional items and stock based compensation, for the same period, is expected to be approximately 40% for the full year, the firm added.At constant currency and excluding the Borland Software Corporation and the Compuware Testing/ASQ business acquired in 2010, organic year-on-year revenue growth for the full year is approximately 8%, the statement said. Revenue from these two is running at approximately $160m annaully.Net debt at the end of the year was approximately $68m and the group is now highly likely to return to a cash positive position within twelve months, teh firm added.""In a challenging environment, Micro Focus has delivered solid organic growth in FY2010. Whilst ISV revenues felt some impact from the economy, we experienced strong growth in our migrations business," chief executive Kevin Loosemore commented.