BasWare - Company Announcement

Basware Corporation lowers the 2011 estimates

Basware Corporation lowers  the 2011 estimates

Basware Corporation stock exchange release, September 8, 2011 at 14:15

Basware Corporation has previously estimated that the net sales in 2011 will
grow over 10 percent and that the operating profit (EBIT) for 2011 is expected
to be over 13 percent of net sales. Basware Corporation's net sales are now
estimated to grow 5-9 percent and operating profit (EBIT) to be 11,5 -14,5
percent of net sales.

The change in net sales and operating profit guidance is based on general
financial market unstability and lower than expected software market growth.
Therefore, the sales of Basware licenses and related professional services have
developed slower than expected. In addition, license sales are more and more
shifting into strategically important Software as a Service delivery model which
has an impact on the growth of net sales in short term but supports the growth
of Automation services in the long term. Recurring revenue from SaaS solutions
exceeds the net sales of traditional license sales, maintenance and professional
services typically already at the end the second installation year and is thus
positive in the long run.

Strategically important e-invoicing business continues to develop strongly and
transaction volumes grow as expected. Basware Corporation is developing new
sales organization and delivery cooperation models to accelerate license and
SaaS sales as well the growth of e-invoicing services. The next generation of
solutions to be launched early 2012 will improve the company's competitiveness
in acquiring new customers and will add on sales potential among present
clientele.

For more information, please contact:

CEO Ilkka Sihvo, Basware Corporation
Tel. +358 40 501 8251

Distribution:

NASDAQ OMX Helsinki Ltd
Main media


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