Schnitger Corporation

ESI Group cautiously optimistic about Q4

ESI announced Q3 results today that were good — and not foreshadowing gloom. It’s the
first company to announce results that included October, after the world went into the
current financial meltdown. Total revenue for Q3 was up 4% to €13.4 million, with a
"negligible" currency effect. Growth was led by services, which generated sales of €4.3
million in the third quarter, up 17% from year-ago levels.

Alain de Rouvray, ESI Group Chairman and CEO, said the following in a prepared
statement about the results: "Although there has been major disruption to the global
economy, our main customers – including carmakers – have shown a high level of
confidence in our Virtual Prototyping solutions, which deliver major benefits in terms of
productivity and competitiveness. As usual, therefore, we expect our sales to show
significant seasonal variations, with most sales coming in the fourth quarter, barring
unexpected events arising from the economic situation."

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