SSH - Q1 result below our expectations
- Q1 net sales totaled EUR 2.7 million (3.6m our expectation)
- Software fees were EUR 0.5 million (1.1m Evli), Professional services were EUR 0.1 million (0.3m Evli), and Recurring revenue was EUR 2.1 million (2.2m Evli)
- Q4 operating loss was EUR -1.3 million (-0.9m our expectation)
- EPS was -0.04 (vs. -0.03 our estimate)
- Liquid assets were EUR 12.3m (vs. 12.6m Q1/18)
Business outlook for 2019 unchanged: SSH expects double digit percentage growth from software business (software fees, professional services, and recurring revenue) at comparable exchange rates