Day Software - Report 1H 2010

First Half 2010

In the past 6 months, businesses around the globe continued to realize the need for agility to engage customers on the new Web.

Those businesses trusted Day.

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Across verticals and across the globe, brand leaders invested in new online customer experience. They turned to Day.

47 percent total revenue growth. In 1H 2010, Day saw a record increase in both new and repeat customer transactions as organizations worldwide recognized the need to invest in a new online platform to engage customer across multiple channels to drive brand awareness, revenue, and loyalty.

It’s a new Web. Transform. With just 8 seconds to engage, global leaders increasingly look to increase both marketing and IT agility to respond to new market opportunities and drive new sources of revenue. Online communities, mobile and tablet devices, and the Cloud open new doors for businesses to transform their online business. In 1H 2010, BMW, Lufthansa, Hyatt, Skype, PayPal, Dunkin Brands, and others chose to transform with Day.

percent

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Revenues

Total revenue increased by TCHF 8,039, or 47% to TCHF 25,055 for the first half of 2010 compared to TCHF 17,016 for the first half of 2009. Software license revenue increased by TCHF 5,159, or 71% to TCHF 12,395 for the first half of 2010 compared to TCHF 7,236 for the first half of 2009. Product support revenue increased by TCHF 1,779, or 33% to TCHF 7,135 for the first half of 2010 compared to TCHF 5,356 for the first half of 2009. Services revenue increased by TCHF 1,101, or 25% to TCHF 5,525 for the first half of 2010 compared to TCHF 4,424 for the first half of 2009. The increase in revenue is due to the expansion of sales teams to new and existing territories, a growing customer base and consistent product support renewals.

Day’s revenue base continues to be geographically diverse. In the first half of 2010, the Company generated total revenues of TCHF 13,393 (53% of total revenues) in Europe and TCHF 11,662 (47% of total revenues) in the Americas and Asia Pacific. In the first half of 2009, the Company generated total revenues of TCHF 8,801 (52% of total revenues) in Europe and TCHF 8,215 (48% of total revenues) in the Americas and Asia Pacific. The amount of revenue generated in Asia Pacific was less than 2% for both 2010 and 2009.

The functional currencies of the Company’s foreign subsidiaries are their respective local currencies as these are the currencies of the primary economic environment in which the subsidiaries operate. These currencies include the U.S. dollar, British Pound, the Euro and the Singapore Dollar. The financial statements of these foreign subsidiaries are translated into the Swiss Franc, the Company’s reporting currency, to prepare the consolidated financial statements. The resulting foreign currency translation adjustments are included in other comprehensive income (loss). Changes in the exchange rates of these foreign currencies against the Swiss Franc will result in currency translation effects that could have a significant impact on the Company’s consolidated financial statements. The Company does not currently hedge these foreign exchange risks with financial instruments. The Company will continue to be subject to these foreign currency translation effects as long as it continues to conduct business on a global basis.

If the revenues of the foreign subsidiaries for the first half of 2010 had been translated into the Swiss Franc at the average exchange rates in effect for the first half of 2009, consolidated revenue would have been approximately TCHF 526 higher for the first half of 2010.

Gross Profit

Total gross profit increased by TCHF 6,299, or 49% to TCHF 19,219 for the first half of 2010 compared to TCHF 12,920 for the first half of 2009. The increase in gross profit and gross profit margin is due to the increase in license and product support revenue.

If the gross profit of the foreign subsidiaries for the first half of 2010 had been translated into the Swiss Franc at the average exchange rates in effect for the first half of 2009, consolidated gross profit would have been approximately TCHF 220 higher for the first half of 2010.

Operating Expenses

Total operating expenses increased by TCHF 3,273, or 29% to TCHF 14,412 for the first half of 2010 compared to TCHF 11,139 for the first half of 2009. R&D expenses increased by TCHF 455, or 14% to TCHF 3,728 for the first half of 2010 compared to TCHF 3,273 for the first half of 2009. S&M expenses increased by TCHF 2,303, or 45% to TCHF 7,381 for the first half of 2010 compared to TCHF 5,078 for the first half of 2009 due to the increase in sales expense relating to the expansion of sales teams and the increase of marketing activities, trade shows and customer events. G&A expenses increased by TCHF 515, or 18% to TCHF 3,303 for the first half of 2010 compared to TCHF 2,788 for the first half of 2009 due to increased expenditure to support the company’s growth.

If operating expenses of the foreign subsidiaries for the first half of 2010 had been translated into the Swiss Franc at the average exchange rates in effect for the first half of 2009, consolidated operating expenses would have been approximately TCHF 189 higher for the first half of 2010.

Day Software Report for the First Half of 2010

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Foreign Exchange Gains and Losses

Foreign exchange gains and losses resulting from specific foreign currency transactions are included in the consolidated results of operations. Foreign exchange losses were TCHF 290 for the first half of 2010 compared to a foreign exchange gain of TCHF 235 for the first half of 2009. The foreign exchange losses for the first half of 2010 were primarily due to the declining value of Euro against the Swiss Franc during the first half of 2010.

Net Income

Income from operations was TCHF 4,807 for the first half of 2010 compared to TCHF 1,781 for the first half of 2009. Net income was TCHF 3,695 for the first half of 2010 compared to TCHF 1,055 for the first half of 2009.

Liquidity and Capital Resources

As of June 30, 2010, cash and cash equivalents amounted to TCHF 27,203, an increase of TCHF 5,169 from TCHF 22,034 as of December 31, 2009.

Accounts receivable net, including unbilled receivables, as of June 30, 2010 amounted to TCHF 12,755 compared to TCHF 11,615 at December 31, 2009. Increase in accounts receivable was the result of a 27% increase in sales in the three months ended June 30, 2010 compared to sales in the three months ended December 31, 2009. Average days-sales-outstanding, which exclude unbilled receivables for the first half of 2010 decreased to 87 days, as compared to 97 days for the first half of 2009.

Total current and non-current deferred tax assets decreased to TCHF 1,379 as of June 30, 2010 from TCHF 1,543 as of December 31, 2009 due to utilization of a portion of the deferred tax assets during the first half of 2010.

Deferred revenue increased to TCHF 9,591 at June 30, 2010, as compared TCHF 7,942 as of December 31, 2009 due to an increase in maintenance contracts.

Accrued liabilities increased to TCHF 5,729 as of June 30, 2010, as compared to TCHF 4,774 as of December 31, 2009 due to an increase in accrued commissions, bonuses, payroll taxes and other employee benefits at the end of June 30, 2010.

Employees

As of June 30, 2010, the Company had 161 employees, as compared to 134 employees as of December 31, 2009. Headcount increased in all departments to support the growth and infrastructure of the Company. The main increases were S&M and global services group (GSG), where headcount increased by 10 and 14 employees, respectively.

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Consolidated Balance Sheets(in thousands CHF, except share information)

(unaudited)

ASSETS June 30, 2010 December 31, 2009Current assets

Cash and cash equivalents 27,203 22,034

Accounts receivable, net of allowance of CHF 702 and CHF 570 as of 12,534 11,485

June 30, 2010 and December 31, 2009, respectively

Unbilled receivables 221 130

Other receivables 151 233

Prepaid expenses 1,190 687

Deferred tax assets 233 466

Total current assets 41,532 35,035

Non–current assets

Property and equipment, net 479 440

Deferred tax assets 1,146 1,077

Other assets 206 176

Total non-current assets 1,831 1,693

TOTAL ASSETS 43,363 36,728

LIABILITIES AND SHAREHOLDERS’ EQUITYCurrent liabilities

Accounts payable 675 1,172

Deferred revenue 9,371 7,689

Other current liabilities 1,639 1,885

Current income taxes payable 808 382

Accrued liabilities 5,729 4,774

Total current liabilities 18,222 15,902

Deferred revenue less current portion 220 253

Long-term portion of unfunded pension obligation 2,780 2,619

Total liabilities 21,222 18,774

Shareholders’ equity

Share capital, CHF 10.00 par value; 1,561,620 shares issued and outstanding, 718,500 additional 15,616 15,426 authorized, 752,323 conditional as of June 30, 2010; 1,542,629 shares issued and outstanding, 718,500 additional authorized, 666,994 conditional as of December 31, 2009

Treasury shares (95) -

Additional paid-in capital 144,015 143,144

Accumulated deficit (137,260) (140,955)

Accumulated other comprehensive income (135) 339

Total shareholders’ equity 22,141 17,954

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 43,363 36,728 See accompanying notes to the consolidated financial statements.

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Six Months Ended Six Months Ended June 30, 2010 June 30, 2009Revenue

Software licenses 12,395 7,236

Product support 7,135 5,356

Services 5,525 4,424

Total revenue 25,055 17,016

Cost of revenue

Software licenses 129 12

Product support and services 5,707 4,084

Total cost of revenue 5,836 4,096

Gross profit 19,219 12,920

Operating expenses

Research and development 3,728 3,273

Sales and marketing 7,381 5,078

General and administrative 3,303 2,788

Income from operations 4,807 1,781

Interest income 19 28

Interest expense (2) (9)

Foreign exchange gain (loss) (290) 235

Other income (expense) 16 (28)

Income before income taxes 4,550 2,007

Provision for taxes (855) (952)

Net income 3,695 1,055

Basic net income per share 2.38 0.72

Diluted net income per share 2.11 0.72

Shares used in computing basic net income per share 1,553,074 1,458,588

Shares used in computing diluted net income per share 1,754,381 1,460,576

See accompanying notes to the consolidated financial statements.

Consolidated Statements of Operations(in thousands CHF, except share and per share information)

(unaudited)

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Consolidated Statements of Cash Flows(in thousands CHF)

(unaudited)

Six Months Ended Six Months Ended June 30, 2010 June 30, 2009Net income 3,695 1,055

Adjustments to reconcile net income to net cash provided by operating activities

Depreciation and amortization of fixed assets 136 98

Net foreign currency exchange (gain) loss 290 (235)

Share-based compensation 471 350

Changes in operating assets and liabilities

Accounts receivable (1,344) 638

Unbilled receivables (94) (155)

Prepaid expenses and other current assets (407) (123)

Deferred tax assets 100 698

Other assets (28) (17)

Accounts payable (502) (73)

Deferred revenues 1,576 2,604

Other current liabilities (237) (473)

Current income taxes payable 418 225

Accrued liabilities 950 413

Pension liabilities 161 163

Net cash provided by operating activities 5,185 5,168

Cash flows from investing activities

Purchases of equipment (168) (78)

Net cash used in investing activities (168) (78)

Cash flows from financing activities

Proceeds from stock option exercises 478 -

Purchase of treasury shares (3,302) (230)

Proceeds from sale of treasury shares 3,319 436

Net cash provided by financing activities 495 206

Foreign currency adjustment on cash (343) 207

Net increase in cash and cash equivalents 5,169 5,503

Cash and cash equivalents at beginning of period 22,034 12,814

Cash and cash equivalents at end of period 27,203 18,317

See accompanying notes to these consolidated financial statements.

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Balances January 1, 2009 1,473,123 14,731 (370) 141,388 (143,570) 474 12,653

Proceeds from exercise 69,506 695 - 762 - - 1,457 of stock options

Purchase of treasury shares - - (1,663) - - - (1,663)

Proceeds from sale of - - 2,033 227 (91) - 2,169 treasury shares

Share-based compensation - - - 767 - - 767

Comprehensive income (loss):

Prior service cost - - - - - (31) (31)

Net income - - - - 2,706 - 2,706

Foreign currency translation - - - - - (104) (104)

Total comprehensive income (loss) - - - - - - 2,571

Balances December 31, 2009 1,542,629 15,426 - 143,144 (140,955) 339 17,954

Proceeds from exercise 18,991 190 - 288 - - 478 of stock options

Purchase of treasury shares - - (3,302) - - - (3,302)

Proceeds from sale of - - 3,207 112 - - 3,319 treasury shares

Share-based compensation - - - 471 - - 471

Comprehensive income (loss):

Prior service cost - - - - - - -

Net income - - - - 3,695 - 3,695

Foreign currency translation - - - - - (474) (474)

Total comprehensive income (loss) - - - - - - 3,221

Balances June 30, 2010 1,561,620 15,616 (95) 144,015 (137,260) (135) 22,141

See accompanying notes to these consolidated financial statements.

Consolidated Statements of Shareholders’ Equity(in thousands CHF, except share information)

(unaudited)

Share Capital Shares

Share Capital Amount

Treasury Shares

Additional Paid-in Capital

Accumulated Deficit

Accumulated Other Com-prehensive Income (Loss)

Total Shareholders’ Equity

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Notes to Consolidated Interim Financial Statements (unaudited)

Note 1 — Organization and History

Day Software Holding AG (collectively with its subsidiaries, the “Company”) was formed on October 29, 1999 as a stock corporation under the laws of Switzerland. The Company is a leading provider of content management and content infrastructure software and markets and sells its software products and services through its subsidiaries located throughout Europe, the Americas and Asia Pacific. The Company’s shares are traded on the SIX Swiss Exchange under the symbol DAYN and on the U.S.’s Over-The-Counter market in the form of American Depositary Receipts under the symbol DYIHY.

Note 2 — Summary of Significant Accounting Policies

Basis of Presentation

The accompanying unaudited consolidated interim financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). Certain amounts reported in previous years have been reclassified to conform to the 2010 presentation.

These unaudited consolidated interim financial statements should be read in conjunction with the audited financial statements and notes related thereto for the period ended December 31, 2009, included in the Company’s Annual Report. The unaudited consolidated interim financial statements include all adjustments necessary to present fairly the Company’s consolidated financial position as of June 30, 2010, notes explaining any significant changes that have occurred since December 31, 2009 and the consolidated results of its operations and cash flows for the six months ended June 30, 2010. The consolidated results of such interim periods are not necessarily indicative of the results to be achieved for the period ended December 31, 2010.

Principles of Consolidation

The accompanying unaudited consolidated interim financial statements include the accounts of Day Software Holding AG and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.

Revenue Recognition

The Company recognizes revenue in accordance with Financial Accounting Standards Board Accounting Standards Codification (“FASB ASC”) Topic 605, Revenue Recognition. The Company derives revenues from software licenses, product support and services. Revenue from software licenses is recognized when persuasive evidence of an arrangement exists, delivery of the product has occurred, the fee is fixed or determinable and collectability is probable. Product support, consisting of the rights to unspecified software updates and technical support over the contractual support period, generally one year, is always sold with initial software arrangements. Customers have the right to renew product support based on the renewal terms stated in the initial software license contract.

For multiple-element contracts, which include both the sale of software licenses and product support, the entire fee must be allocated to the elements in the contract based on vendor-specific objective evidence (“VSOE”) of fair value the elements regardless of any separately stated prices in the contract for the elements. VSOE of fair value is the price charged for the elements when sold separately. The Company has established VSOE of fair value for the product support element of these contracts based on the product support renewal rate contracted in these multiple-element arrangements. The renewal rate 1) represents the price charged for product support when sold separately, 2) is substantive, 3) is based on a standard price list, and 4) is a similar rate for all customers with variations based only on the level of product support to be provided.

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For allocation of the arrangement fee to the elements of the contract, the Company uses the “residual method”, the prescribed method when VSOE of fair value does not exist for one or more of the delivered elements but does exist for all of the undelivered elements. Under the residual method, the arrangement fee for the delivered elements (software license) is based on the difference between the total arrangement fee and the VSOE of fair value of the undelivered elements (product support). The value allocated to the undelivered elements is deferred and subsequently recognized ratably over the contractual product support period typically one year.

Service revenue primarily consists of fees from software integration and training. The Company generally bills professional services on a time and materials basis and recognizes revenue as the services are performed. Services sold within a multiple-element arrangement are accounted for separately from the other elements in the arrangement as the service element is not essential to the functionality of the other elements of the arrangement.

The Company defers revenue for software arrangements when a customer has paid or has a contractual obligation to pay and the arrangement does not qualify for revenue recognition under FASB ASC Topic 605 Revenue Recognition. These amounts are reflected as deferred revenue on the accompanying consolidated balance sheets. The Company will record an unbilled receivable for software arrangements when the arrangement qualifies for revenue recognition but the customer has not yet been billed.

Foreign Currency

The functional currencies of the Company’s foreign subsidiaries are their respective local currencies. Translation adjustments of local currency financial statements into the Swiss Franc (“CHF”) are reflected as a component of other comprehensive income. Foreign exchange gains and (losses) resulting from specific foreign currency transactions are included in the consolidated statements of operations.

Note 3 — Net Income Per Share

The company calculates net income per share in accordance with FASB ASC Topic 260, Earnings Per Share. Basic net income per share is computed by dividing net income available to shareholders by the weighted average number of shares outstanding during the period. Diluted net income per share is computed by dividing net income available to shareholders by the weighted average number of shares outstanding plus the effect of potentially dilutive common shares outstanding during the period using the treasury stock method. Potentially dilutive common shares include outstanding stock options. Outstanding stock options totaling 39,000 and 338,540 were excluded from the weighted average number of shares outstanding used in the diluted income per share calculation for the six months ended June 30, 2010 and 2009, respectively, because their exercise price was greater than the Company’s average stock price during the period, therefore making their inclusion anti-dilutive.

Note 4 — Commitments and Contingencies

Indemnification Clauses in Software License Agreements

The Company’s standard software license agreement includes an indemnification clause that indemnifies the licensee against liability and damages arising out of or in connection with an assertion that the software infringes any United States trademark or copyright. To date, the Company has had no material claims or costs related to these indemnification clauses and therefore, has no liability recorded related to these indemnification clauses as of June 30, 2010 and December 31, 2009.

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Treasury Shares

The Company purchases and sells its own shares of common stock and accounts for these transactions under the cost method of accounting for treasury shares. Treasury shares are included in the Consolidated Balance Sheets as a reduction in Shareholders’ Equity. Purchases of the Company’s own shares are reported at cost as an increase in treasury shares. Sales of the Company’s own shares are reported as a reduction in treasury shares based on the First in First Out (“FIFO”) method. If the shares are sold at a price in excess of the original cost using the FIFO method (gain on sale), paid-in capital is increased for the gain on sale. If the shares are sold at a price less than the original cost using the FIFO method (loss on sale), paid-in capital is first decreased by an amount not to exceed the paid-in capital amount from previous treasury share transactions. Any remaining loss on sale is recorded as a decrease to accumulated deficit.

There were 1,118 and 0 shares of capital stock in the treasury as of June 30, 2010 and December 31, 2009, respectively. The Company acquired 41,669 treasury shares at an average price of CHF 79.25 per share and sold 40,551 treasury shares at an average price of CHF 81.85 per share during the six months ended June 30, 2010. The sale of treasury shares sold during the six months ended June 30, 2010 resulted in a TCHF 112 increase in paid-in capital.

Note 5 — Shareholders’ Equity

Share-based Compensation

The Company has two stock option plans, the Day Interactive Holding AG International Stock Option Plan (the “International Option Plan”) and the Day Interactive Holding AG United States Stock Option Plan (the “United States Option Plan”). Both the International Option Plan and United States Option Plan are administered by the Board of Directors, which determines the terms and conditions of the options granted, including exercise price, number of options granted and the vesting period of such options. Substantially all of the stock options outstanding vest over a 2 to 4 year period all and have an exercise price equal to the market value on date of grant. Options granted under the Plans have either a five year or ten year maximum term. There are a total of 401,522 shares of capital stock available for issuance under the two stock options plans as of June 30, 2010.

Share-based compensation expense included in the consolidated statements of operations for the six months ended June 30

In thousands CHF 2010 2009

Cost of revenue 50 33

Research and development 53 29

Sales and marketing 162 98

General and administrative 206 190

Total share-based compensation 471 350

Total share-based compensation cost not yet recognized related to nonvested share-based arrangements was TCHF 2,909 as of June 30, 2010.

The Company calculated the grant date fair value of options using the Black-Scholes option-pricing model and assumptions in the following table. The risk free

interest rate is based on the Swiss Confederation bond yield during the option grant period. The expected life is calculated taking an average between the option vesting term and the contractual term. The expected volatility is based on historical volatility. The forfeiture rates are based on historical forfeitures.

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Assumptions for calculation of the grant date fair value of options using the Black Scholes option-pricing model under both stock option plans for the six months ended June 30

2010 2009

Risk-free interest rate — United States Plan 0.70% 0.80-1.50%

Expected life (years) — International Option Plan 3.75 3.75

Expected life (years) — United States Option Plan 3.75 6.25

Expected volatility 50%-51% 43%- 60%

Forfeiture rate 2.73% –

Dividend yield – –

Stock option activity for the six months ended June 30, 2010

Number of Options Weighted Average Aggregrate Intrinsic Value Exercise Price (In thousands CHF) (per share in CHF)

Outstanding, December 31, 2009 336,233 23.93 16,918

Granted 41,500 76.61

Exercised (18,991) 25.18

Forfeited or expired (7,941) 14.15

Outstanding, June 30, 2010 350,801 30.30 20,065

Exercisable, June 30, 2010 157,335 23.13 10,128

The total aggregate intrinsic value of options outstanding was calculated as the difference in the Company’s closing stock price on the last trading day in the period and the exercise price of options outstanding on the last day in the period multiplied by the number of options outstanding on the last day of the period. The total aggregate intrinsic value of options exercisable was calculated as the difference in the Company’s closing

stock price on the last trading day in the period and the exercise price of options exercisable (or vested and outstanding) on the last day in the period multiplied by the number of options exercisable (or vested and outstanding) on the last day of the period.

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Net periodic benefit cost recognized for the six months ended June 30


Service cost 402 401

Interest cost 141 115

Expected return on Plan assets (122) (102)

Amortization of net transition obligation 36 36

Net periodic benefit cost recognized 457 450

In the United States, the Company sponsors a 401(k) retirement plan that is considered a defined contribution discretionary plan under which eligible participants may contribute up to a maximum of 80% of their pre-tax earnings subject to certain statutory limitations. The Company made no discretionary contributions to the 401(k) retirement plan during the six months ended June 30, 2010 and 2009.

For all employees residing in Switzerland, the Company sponsors a defined benefit pension plan (the “Plan”) covering employees earning more than TCHF 25 per year. In 2005, the Plan was amended and changed from a defined contribution pension plan to a defined benefit pension plan due to changes in the laws governing pension plans in Switzerland. The Plan provides benefits in the event of retirement, death or disability and the benefits are based on age, years of service and salary. The Plan is financed by contributions by both the employer and employee. The employee contributions are based on a percentage of the employee’s salary ranging from 8% to 19% of the employee’s salary and are dependent on age and gender.

The Plan assets are invested primarily in qualified insurance policies with AXA and cash. The insurance policies guarantee a fixed rate of return. For Plan assets related to the mandatory pension benefits, this return is based on the minimum interest rated decided by the government of Switzerland. For the remaining Plan assets, the investment return is decided by AXA.

During the six month ended June 30, 2010, the Company made TCHF 296 in pension contributions and estimates that it will make TCHF 258 in contributions to the Plan during the six month ended December 31, 2010.

Note 6 — Retirement and Pension Plans

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The components of income (loss) from continuing operations before income taxes for the six months ended June 30


Switzerland 2,193 (542)

Other countries 2,357 2,549

Income from continuing operations before income taxes 4,550 2,007

The components of the provision for taxes for the six months ended June 30


Current

Switzerland 592 -

Other countries 162 287

Total current 754 287

Deferred

Switzerland 67 -

Other countries 34 665

Total deferred 101 665

Total provision of taxes 855 952

A substantial portion of the Company’s operations is outside of Switzerland and in various countries with different tax

laws and rates. The current provision for income taxes is based on income generated in various countries.

Deferred tax assets net of valuation allowance were TCHF 1,379 and TCHF 1,543 at June 30, 2010 and December 31, 2009, respectively. The Company has deferred tax assets primarily as a result of net operating loss carryforwards. The Company has recorded a valuation allowance to reduce these deferred tax assets to the level that management believes will more likely than not be realized.

Management periodically reassesses its estimate of the Company’s ability to realize its deferred tax assets based on historical income and estimated projected discounted future taxable income for each country to determined if a change in the valuation allowance would be appropriate.

Note 7 — Income Taxes

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The Company operates predominantly in a single industry segment as a provider of content management and content infrastructure software. The Company’s reportable operating segments, based on geographic location of transaction, are Europe and the Americas. The Company’s Asia Pacific

operating segment has been combined with the Americas as the operations are not significant. The accounting policies of the segments are the same as those described in the summary of significant accounting policies.

Segments by geographic area of origin for the six months ended June 30


Total Revenues

Europe 13,393 8,801

Americas 11,662 8,215

Total 25,055 17,016

Software license revenues

Europe 6,889 4,166

Americas 5,506 3,070

Total 12,395 7,236

Product support revenues

Europe 3,881 2,759


Total 7,135 5,356

Services revenues

Europe 2,623 1,876


Total 5,525 4,424

Net income (loss)

Europe 2,569 113

Americas 1,126 942

Total net income (loss) 3,695 1,055

Note 8 — Segment Information

This report may contain forward-looking statements regarding future events or the future performance of Day Software Holding AG and its subsidiaries (the “Company”). Actual events or results, of course, could differ materially. We refer you to the “Risk Factors” section of the Company’s Offering Circular, which can be downloaded from the “Investor Relations” section of the Company’s website at www.day.com.The Company’s Offering Circular contains and identifies important factors that could cause actual results to differ materially from those contained in any forward-looking

statements. Among the important factors which could cause the Company’s actual results to differ materially from such forward-looking statements are its limited operating history, its need to stay on the forefront of technological development within its industry, and its ability to expand into new geographic markets. There is currently no public trading market in the United States for the Company’s stock, and the Company does not make filings (e.g., Forms 10-K and 10-Q) with the Securities and Exchange Commission under the Securities Exchange Act of 1934.

A warning regarding forward-looking statements

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For further information

Peter Nachbur Day Software Holding AG Barfüsserplatz 6 4001 Basel Switzerland

T +41 61 226 98 98 F +41 62 226 98 97 E-Mail [email protected]

The English text of this report represents the binding version.

Copyright © 1993-2010 Day Management AG, Switzerland. All rights reserved.

DAY, the DAY logo, Communiqué, ContentBus and CRX Content Repository Extreme are registered trademarks and service marks, or are trademarks and service marks of Day Management AG, in various countries around the world. All other product names and company logos mentioned in the information, documents or other items provided or available herein may be the trademarks of their respective owners.

Corporate Headquarters Day Software Holding AG Barfüsserplatz 6, 4001 Basel Switzerland

http://www.day.com

Day Software - Report 1H 2010

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