Marlborough, MA (PRWEB) March 11, 2010
cBrain's board of directors has reviewed and approved cBrain's annual report for 2009.
The annual report for 2009 shows revenue of DKK 33.8 million compared to DKK 28.0 million for 2008 corresponding to a revenue growth of 21%.
Result before tax for 2009 shows earnings (EBT) of DKK 8.9 million compared to DKK 5.1 million for 2008, corresponding to EBT increase of 76% and an EBT margin of 26%.
Management acknowledges with satisfaction that the result for 2009 is cBrain's best result ever, with respect to both revenue and bottom line.
cBrain continues to have a high degree of solidity and only a minor short term debt position. For fiscal 2009 equity was increased from DKK 21.9 million to DKK 28.4 million.
Equity (excluding debt) consists primarily of liquid items of DKK 29.1 million - split between liquid assets (DKK 20.4 million) and accounts receivables (DKK 8.7 million).
cBrain announced in early 2009 its growth plan for 2009 - 2011. The growth plan is based on a new product line called the "Knowledge Worker Desktop", supporting the digital transformation of case management in private enterprises and governmental organizations.
cBrain continues the execution of the growth plan and has announced the first positive results of this plan with implementations of the new product line at the Ministry of Social Affairs and the Ministry of Transport.
Management assessment is that with regard to targeted market segments, product development as well as financial strength the company is in a solid position to execute its long term plans.
About cBrain -- The Process Company:
cBrain offers software solutions supporting business processes and knowledge management for private and public companies as well as governmental organizations. cBrain was listed on NASDAQ-OMX in February 2006.
The cBrain software solution is a unique outside-in approach to system design where processes and people are the starting points. cBrain's software solutions can where necessary easily be tightly integrated with social media tools, existing legacy systems and security environments and always provides secure information archiving.
The software development is based on cBrain's library of software components combined with a true service-oriented architecture (SOA).
cBrain's customers are primarily within 3 areas: government, membership organizations and consulting firms.
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