The B.o.D. approves the Interim Management Report at 31st March 2010

The Board of Directors of CAD IT S.p.A. (www.cadit.it), leader in the Italian financial software market and quoted in the STAR segment of Borsa Italiana, today approved the Interim Management Report at 31^st March 2010.

The main results in regard to the Consolidated Profit and Loss account at 31^st March 2010 are as follows:

• Value of Production of Euro 13.1 million compared to Euro 13 million in the first quarter of 2009. The internal work capitalized under fixed assets went from Euro 0.7 million in the first quarter of 2009 to Euro 0.8 million in the first quarter of the current year;
• Gross Operational Result (EBITDA) of Euro 1.3 million, corresponding to 10% of the Value of Production, compared to Euro 1.5 million in the first quarter of 2009 (11.8% of the Value of Production). This, as other profitability margins, has been affected mainly by the Euro 0.5 million increase in labour costs;
• Operational Result (EBIT) of Euro 0.4 million corresponding to 2.8% of the Value of Production, compared to Euro 0.7 million in the first quarter of 2009 (5.4% of the Value of Production);
• Pre-tax result for the period of Euro 0.5 million (4% of the Value of Production), compared to Euro 0.9 million in the first quarter of 2009 (7.3% of the Value of Production). 

The Consolidated net short-Term Financial Position at 31^st March 2010 is in credit by Euro 5 million compared to Euro 5.1 million registered at 31^st December 2009.