UPDATE 1-Micro Focus sees H1 EBITDA beating view, shares up

Wed Nov 11, 2009 8:09am GMT
 
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* Acquisitions beating company view on revenue, EBITDA

* Sees H1 EBITDA of about $75 mln

* Shares up 12.9 pct

LONDON, Nov 11 (Reuters) - British IT firm Micro Focus (MCRO.L) said on Wednesday it expected earnings for the first half to beat forecasts after a strong performance from its recent acquisitions, Borland Software and Compuware's (CPWR.O) testing business.

Shares in the group, which have increased 21 percent since the start of the year, jumped 12.9 percent to 386 pence by 0808 GMT.

In a statement ahead of its half-year results, the company, which updates legacy software for customers such as Tesco, said it expected first-half total revenue of about $195.0 million, up from $135.6 million a year earlier.

Group earnings before interest, tax, depreciation and amortisation (EBITDA) was expected to be about $75 million, up from $57.9 million a year ago and ahead of expectations, it said.

Analysts expect revenue for the full year of $414.9 million and EBITDA of $140.1 million, according to Thomson Reuters I/B/E/S.  Continued...

 

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