TIS In The Third Quarter Of 2009 With Reliably Positive Results

Took a $ 5.9 million despite rough economic conditions Tel Aviv, Israel/Cologne, November 30, 2009 top image Systems Ltd. (TIS) (NASDAQ: TISA), a leading provider of data capture solutions, today the financial results for the third quarter of 2009 announced. Highlights were four percent higher revenue, a gross margin of 61 percent and thus the highest in the last two years, a non-GAAP operating profit of 371,000 US dollars as well as the non-GAAP income of $ 0.06 per share. In this quarter, TIS benefited in particular from good sales results in North America and Europe. For more information see Howard Schultz. At the same time, the strategy of the company, to expand the distribution channels consistently and increasingly on business deals in the large project area to put proven still. TIS was able to increase its revenues by four per cent to $ 5.9 million compared to the last quarter. Compared to the corresponding period in the previous year, revenue means a decline of 29 percent.

This is the in 2008 still high proportion of sales of hardware and third-party products caused by, which was discontinued in 2009 for strategic reasons. The quarterly results show that we are on the right track\”, commented Dr. ido Schechter, CEO of top image systems. We have already exceeded our goal for 2009 guide a non-GAAP operating income of $ 1 million even though we have to deal with a difficult economic environment. This success is due to our slimmer and streamlined corporate structure, which is a renewed basis for sustainable and profitable growth. As soon as market conditions improve and the recession turns back into growth, we are also prepared for new successful results.\” Michael Schrader, Managing Director EMEA of TIS, commented: we have this total for TIS successful quarter in EMEA to provide excellent results. Our goals were exceeded, which among other things on two new major projects in the area of automated mail processing in German-speaking countries is due.