Mensch and Maschine Software (MuM) today reported that preliminary Q1 figures indicate that revenue from its continuing operations were up about 17%, but in total were about half of that recorded in Q1, 2011. Sales from the proprietary software segment, M + M Software were up 21% to €8 million and from the VAR D/A/C segment were up 15% to €20 million. The VAR Europe segment, which is being transitioned from the former distribution model (sold to Tech Data last year) and rebuilt as a VAR by acquisition, “did not contribute significantly”, with sales under €2 million. Because the company’s new structure focuses on more profitable types of business, it stayed in the black even despite the large revenue decline.
CEO Adi Drotleff continues to be optimistic about 2012, saying in a press release, “Our first quarter 2012 did not reflect the economy pessimists’ ‘opinion’. Therefore we are confident from today’s point of view that our 2012 targets – €150 million [in] sales, €13 million [in] EBITDA, €5 million [in] net earnings and 30 cents EPS – are achievable.”
MuM is often the “canary in the coal mine” — as one of the first companies to report Q1, when it reports positively, so will the other PLM companies, especially Autodesk.