--German Magix EBIT rises to EUR 3.2m in H1 FY 2010/11

Internet Business News
04-27-2011
--German Magix EBIT rises to EUR 3.2m in H1 FY 2010/11

INTERNET BUSINESS NEWS-(C)1995-2011 M2 COMMUNICATIONS

27 April 2011 - German IT firm Magix AG (ETR:MGX) today reported preliminary earnings before interest and tax (EBIT) of EUR3.2m (USD4.69m) for the first half of fiscal 2010/11, an increase of 26% on the year.
The company's revenue climbed by 4% in annual terms to EUR19.1m in the first six through March.

After a strong first quarter, Magix' revenue and EBIT dropped by 4% and 9% on the year, respectively, in the second quarter of fiscal 2010/11, which will end September 30, 2011.

Therefore, the company's management board lowered its expectations for Magix' full-year revenue and now projects a revenue increase of between 3% and 7% to between EUR38.2m and EUR39.7m. The company initially expected its revenue to rise by between 7% and 14% on the year in the full fiscal 2010/11.

However, Magix' EBIT forecast remains unchanged at EUR6m.

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