Edition:
United Kingdom

Micro Focus HY Adjusted EBITDA $710.5 Mln Vs $320.5 Mln Year Ago


Wednesday, 11 Jul 2018 

July 11 (Reuters) - Micro Focus International PLC ::HALF YEAR OPERATING PROFIT 65 MILLION USD VERSUS 130.2 MILLION USD YEAR AGO.HALF YEAR ADJUSTED EBITDA 710.5 MILLION USD VERSUS 320.5 MILLION USD YEAR AGO.HALF YEAR REVENUE 1.974 BILLION USD.SECOND INTERIM DIVIDEND 0.5833 USDPER SHARE.MICRO FOCUS - RESOURCES REQUIRED TO STABILIZE, REMEDIATE FAST PLATFORM, DRIVING INCREASE IN EXCEPTIONAL COSTS, EXPECTED TO BE $960M VERSUS $750M PREVIOUSLY FLAGGED.REITERATE FULL YEAR CONSTANT CURRENCY REVENUE GUIDANCE OF MINUS 6% TO MINUS 9% FOR 12 MONTHS ENDED 31 OCTOBER 2018.MICRO FOCUS - COST MANAGEMENT PROGRAMS PROGRESSING WELL WITH GROUP TARGETING FURTHER $300M OF ANNUALIZED COST SAVINGS BY END OF FY20.MICRO FOCUS - DUE TO INITIAL CHALLENGES IN INTEGRATION OF HPE SOFTWARE ASSETS, BELIEVE CO IS RUNNING ABOUT 1 YEAR BEHIND ORIGINAL PLAN.MICRO FOCUS - EXPECT ON EXITING CURRENT FINANCIAL YEAR REVENUES WILL BE SUBSTANTIALLY LOWER THAN ANTICIPATED AT TIME OF HPE SOFTWARE ASSETS TRANSACTION.