USU Software AG reported consolidated earnings results for the third quarter and nine months of 2014. For the quarter, the company reported increased its earnings before interest and taxes adjusted for the extraordinary effects of acquisitions (adjusted EBIT) by 50% to EUR 1.6 million compared to EUR 1.1 million reported a year ago. The net profit for the quarter amounted to EUR 1.4 million or EUR 0.13 per share compared to EUR 0.5 million or EUR 0.05 per share reported a year ago. Sales amounted to EUR 13.9 million compared to EUR 13.8 million reported a year ago, up 1%. The modest sales development in the reporting quarter results from the postponement of projects by German companies in the home loan bank and insurance company sector. At the same time, sales were also reduced by the transformation of USU Consulting GmbH. The company enjoyed highly positive effects from the US activities for the Group's international business, which continued its growth trend in the third quarter of 2014 and rose by 63% to EUR 3.6 million.

Over the first nine months, the company generated an organic sales increase of 8% to EUR 41.5 million compared to EUR 38.4 million reported a year ago, which was mainly due to the high-margin international business. Thus, the USU Group's income generated outside Germany virtually doubled in the first three quarters of 2014 to EUR 10.4 million, corresponding to an international share of total sales of 25%. In conjunction with an only slight expansion in costs, the sales growth achieved led to a rise in adjusted EBIT of 175% to EUR 3.6 million compared to EUR 1.3 million reported a year ago. Net profit amounted to EUR 2.3 million after a loss in the previous year of EUR 29,000. Accordingly, earnings per share climbed to EUR 0.22 compared to EUR 0.00 reported a year ago.

The company is anticipating that business performance abroad will remain strong in the final quarter of 2014 as well. The Management Board of the company is therefore now forecasting consolidated sales and adjusted EBIT on par with the previous year's level for the fourth quarter of 2014.

In line with this, the company is adjusting its sales guidance for 2014 from between EUR 63 million and EUR 65 million to approximately EUR 60 million and, at the same time, anticipates a rise in adjusted EBIT to between EUR 7.0 million and EUR 7.5 million. The previous guidance for adjusted EBIT was in a range of EUR 8.0 to EUR 8.5 million. In the opinion of the Management Board, the forecast earnings increase offers sufficient potential for a dividend increase to allow the shareholders of the company to participate in the positive overall business performance of the current fiscal year in accordance with the company's dividend strategy.