Microfocus results "above analyst expectations"

Micro Focus, the Newbury based software testing company, says revenues will be down slightly in the six months to the end of October although the firm will beat analysts' expectations for the period.

Micro Focus expects favourable exchange rate movements to improve the revenue comparisons with 2010.

Observers will note that the earnings before interest, tax depreciation and amortisation (EBITDA) is expected to come in at 40%, Microfocus says this reflects restructuring activity and forex movements.

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The company also claims a strong cash position despite having bought its headquarters in Newbury for $15m, buying back shares for $62m and paying $31m as a final dividend.

The full interim results will be published on the 7th of December.

BS