SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549





FORM 6-K





REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF

THE SECURITIES EXCHANGE ACT OF 1934



For the Month of November 2005

GENESYS S.A.

(Exact name of registrant as specified in its charter)



L'Acropole, 954-980 avenue Jean Mermoz, 34000 Montpellier, FRANCE

(Address of principal executive offices)



Indicate by check mark whether the registrant files or will file annual reports  under cover Form 20-F or Form 40-F.



Form 20-FXForm 40-F



Indicate by check mark if the registrant is submitting the Form 6-K in paper aspermitted by Regulation S-T Rule 101(b)(1):____



Indicate by check mark if the registrant is submitting the Form 6-K in paper aspermitted by Regulation S-T Rule 101(b)(7):____



Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.



YesNoX



If Yes is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-_______________.



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Genesys Conferencing Reports

Third Quarter Results for 2005



Reston, Virginia, and Montpellier, France  November 15, 2005  Genesys Conferencing(Euronext Eurolist: FR0004270270) (NASDAQ: GNSY), a global multimedia conferencing service leader, today reported financial results for the third quarter ended September 30, 2005. All results are reported under new International Financial Reporting Standards (IFRS). For comparison purposes, financial results for the third quarter ended September 30, 2004, have been stated under IFRS and may differ from the results previously reported for this period under French Generally Accepted Accounting Principles (GAAP).



Operating Highlights: Q3 2005 versus Q3 2004



| |  | Total volume increased 33.7% to 499.4 million minutes
| | - | -----------------------------------------------------

| |  | Genesys Meeting Center automated services volume increased 37.2% to 463.5 million minutes
| | - | -----------------------------------------------------------------------------------------

| |  | Volume utilizingMultimedia Minutepricing increased 272.6% to 124.3 million minutes
| | - | ----------------------------------------------------------------------------------

| |  | Revenue1 was up 8.4% to 36.1 million
| | - | -------------------------------------

| |  | Gross margin increased to 66.1% up from 58.8% in the third quarter of 2004
| | - | --------------------------------------------------------------------------

| |  | EBITDA2was 6.0 million compared to 4.0 million in the third quarter of 2004
| | - | -----------------------------------------------------------------------------

| |  | Net income was 2.0 million compared to a net loss of (1.1) million in the third quarter of 2004
| | - | -------------------------------------------------------------------------------------------------



Our flagship service, Genesys Meeting Center, holds one of the highest organic volume growth rates in the industry and continues to gain market share, stated François Legros, Chairman and Chief Executive Officer. Overall, large enterprises around the world are turning more and more to multimedia collaboration services. Traditional users of stand-alone audio and web conferencing solutions are increasingly recognizing the benefits our multimedia collaboration tools and the value proposition of ourMultimedia Minute.As such, Genesys is well positioned to lead an expected phase of mass end-user adoption of multimedia collaboration solutions.



Third Quarter 2005 Operating Performance



In the third quarter of 2005, revenue1 was 36.1 million, up 8.4% compared with revenue of 33.3 million in the third quarter of 2004. In U.S. dollars, third quarter 2005 revenue was $44.0 million, up 8.2% compared to $40.7 million in the third quarter of 2004. On a sequential basis, Genesys Meeting Center volume and revenue were each down by approximately 2% due principally to seasonality. Revenue from Genesys Meeting Center services accounted for 76.1% of total revenue down sequentially from 77.4% in the second quarter of 2005 primarily as a result of greater than expected revenue from Genesys Event Services, the companys premium managed service. Long-term, the company continues to expect revenue from Genesys Meeting Center services will account for approximately 80% of total revenue.



Gross margin for the third quarter of 2005 was 66.1% compared to 58.8% for the third quarter of 2004. Gross margin continues to meet the companys target of greater than 60%. Overall, the companys cost structure continues to benefit from improved economies of scale while allowing the company to manage the greater migration of existing customers toMultimedia Minute-based services. Gross profit increased by 4.3 million, or 21.9%, in the third quarter of 2005 up to 23.9 million.



Selling, general and administrative expenses were 20.2 million in the third quarter of 2005 up 1.5 million, or 8.2%, compared to 18.7 million in the third quarter of 2004. The increase is due to: the increase of sales personnel during the second quarter of 2005; the recent implementation of marketing programs designed to promote greater customer adoption ofMultimedia Minute-priced services; and additional legal and advisory expenses that were incurred this quarter, particularly in connection with the previously described Genesys Iberia arbitration process.





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Earnings before interest, taxes, depreciation and amortization (EBITDA2) and before stock-based compensation expenses was 6.0 million for the third quarter 2005, a 16.7% EBITDA margin compared to 4.0 million and 12.0%, respectively, for the third quarter of 2004. Stock-based compensation expenses, as reported under IFRS, were 306,000 and 302,000 for the third quarters of 2005 and 2004, respectively.



Net income was 2.0 million, or 0.11 per diluted share, for the third quarter of 2005 compared to a net loss of (1.1) million or (0.06) per share in the third quarter of 2004. Net income growth is primarily the result of improved income from operations. Earnings before interest and taxes (EBIT) increased to 2.9 million in the third quarter of 2005 from 0.1 million in the third quarter of 2004. Net income also benefited by nearly 0.6 million in deferred tax credits.



Third quarter results reflect our ability to achieve positive net income while we increase growth initiatives in operational areas, such as sales and marketing, technology development and global expansion, stated Michael Savage, Executive Vice President, and Chief Financial Officer. The company expects to continue to reinvest in efforts to promote volume growth while managing through price competition.



Liquidity



As of September 30, 2005, the companys cash3was 8.6 million after deducting bank overdrafts. On October 31, 2005, the company made semi-annual principal and interest payments under its existing senior credit facility. Additionally, on October 31, 2005, the company fully repaid the remaining principal due under its convertible bonds. Today, following the October repayments, the companys cash and cash equivalents total more than 6.0 million.



Our 2005 debt repayments represent important steps in the companys ability to improve shareholder value, followed Savage. On an enterprise value basis the repayment of debt this year translates into a meaningful increase of equity value per share.



Guidance



The following contains forward-looking guidance regarding Genesys Conferencings financial outlook and is based on expectations as of November 15, 2005. Actual results may differ materially and the company may not update any forward-looking statements made in this press release. Guidance continues to be based on a fixed rate of exchange of EUR 1.00 = USD 1.25.



The company noted the recent departure of one of its largest audio conferencing customers in connection with this customers merger with a company that utilizes an in-house audio conferencing solution. Revenue and volume from this customer is expected to decline significantly over the next few months. Overall, this customer is expected to account for approximately 5.5% of 2005 revenue.



The company however, projects that revenue for the full-year 2005 will continue to be within the range of its previously disclosed guidance of 140 to 145 million and EBITDA will be within the range of its previously disclosed guidance of 23 million to 26 million.





Conference Call and Webcast

Chairman and Chief Executive Officer François Legros and Executive Vice President/Chief Financial Officer Michael E. Savage will host a conference call on Tuesday, November 15, 2005, at 5:30 p.m. Central European
 Time or 11:30 a.m. Eastern Time to discuss third quarter 2005 financial results.



The conference call will be web cast live and may be accessed atwww.genesys.com/investors

A replay of the call will be available atwww.genesys.com/investors



_____________________________

|(1) | Please refer to the paragraph Impact of Exchange Rates below for information regarding the calculation of U.S. dollar amounts.
|--- | --------------------------------------------------------------------------------------------------------------------------------

|(2) | See attached note to consolidated statements of operations for reconciliation of Operating Income and EBITDA. The company believes that EBITDA is a meaningful measure of performance, because it presents the companys results of operations without the non-cash impact of depreciation and amortization. EBITDA is reported excluding stock-based compensation expense.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|(3) | Cash includes cash and cash equivalents less bank overdrafts.
|--- | -------------------------------------------------------------





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Financial Tables to Follow



Adoption of International Financial Reporting Standards



Effective January 1, 2005, the company, like many companies organized in France and other European countries, adopted the new International Financial Reporting Standards (IFRS) for reporting of its financial results.  The company previously reported under French GAAP.



Impact of Exchange Rates



The company serves large enterprises on a worldwide basis. As a result, the company has extensive international operations and, thus, significant exposure to exchange rate fluctuations, in particular those of the U.S. dollar. In 2003, the U.S. dollar declined significantly compared to the euro, and its value further fluctuated during 2004 and 2005. As a result, the comparability of the companys revenues and results of operations expressed in euros was significantly impacted. The company prepares its consolidated financial statements in euros. In order to demonstrate the impact of the volatility of the U.S. dollar on its revenues from the third quarter of 2004 to the third quarter of 2005, the company has recalculated its revenues as if its functional currency had been the U.S. dollar rather than the euro. For this purpose, the company has used the average for each quarter of the daily euro/U.S. dollar exchange rate for the third quarters of 2004 and 2005, respectively, which are the rates it used for translation purposes in its consolidated income statement.



Forward-Looking Statements



This release contains statements that constitute forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical information or statements of current condition. These statements appear in a number of places in this release and include statements concerning the parties' intent, belief or current expectations regarding future events and trends affecting the parties' financial condition or results of operations.



Forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those in the forward-looking statements as a result of various factors. Some of these factors are described in the Form 20-F that was filed by Genesys with the Securities and Exchange Commission on May 2, 2005.



Although management of the parties believe that their expectations reflected in the forward-looking statements are reasonable based on information currently available to them, they cannot assure you that the expectations will prove to have been correct. Accordingly, you should not place undue reliance on these forward-looking statements. In any event, these statements speak only as of the date of this release. Except to the extent required by law, the parties undertake no obligation to revise or update any of them to reflect events or circumstances after the date of this release, or to reflect new information or the occurrence of unanticipated events.



About Genesys Conferencing



Genesys Conferencing is a leading provider of integrated Web, audio and video conferencing services to thousands of organizations worldwide, including more than 200 of the Fortune Global 500. The companys services are designed to meet the full range of communication needs within the large enterprise, from collaborative team meetings to high-profile online events. The companys flagship product, Genesys Meeting Center, provides a single-platform multimedia conferencing solution that is easy to use and available on demand. With offices in 24 countries across North America, Europe and Asia Pacific, the company offers an unmatched global presence and strong local support. Genesys Conferencing is publicly traded on Euronext in France (ISIN FR0004270270) and on the NASDAQ in the U.S. (GNSY). Additional information is available at www.genesys.com.



At Genesys Conferencing



| | Michael E. Savage                                 | Marine Pouvreau            
| | ------------------------------------------------- | ---------------------------
| | Executive Vice President, Chief Financial Officer | Investor Relations Manager 
| | Phone: +1 703 736-7100                            | Phone: +1 703 733-2140     
| | michael.savage@genesys.com                        | marine.pouvreau@genesys.com
| |                                                   |                            







---





GENESYS CONFERENCING 
  Consolidated Balance Sheets(Unaudited, in thousands of euros, except share data)



|                                                   | At December 31, 2004 |           | At September 30, 2005
|-------------------------------------------------- | -------------------- | --------- | ---------------------
|                                                   |                      |           |                      
|                                                   | (Unaudited)          |           | (Unaudited)          
|                                                   | IFRS                 |           | IFRS                 
|                                                   |                      |           |                      
|ASSETS                                             |                      |           |                      
|Fixed assets                                       |                      |           |                      
|Goodwill, net                                      |                      | €21,042   |                      
|Customer lists and technology                      |                      | 13,028    |                      
|Other intangible assets, net                       |                      | 5,057     |                      
|Tangible assets, net                               |                      | 17,098    |                      
|Financial assets, net                              |                      | 1,215     |                      
|Deferred tax assets                                |                      | 448       |                      
|Investments in affiliated companies                |                      | 212       |                      
|                                                   |                      |           |                      
|Total non current assets                           |                      | €58,100   |                      
|Current assets                                     |                      |           |                      
|Accounts receivable, less allowances (€ 2,100      |                      |           |                      
|and € 1,912 at December 31, 2004 and               |                      |           |                      
|September 30, 2005, respectively)                  |                      | 27,783    |                      
|Prepaid expenses and other current assets          |                      | 8,880     |                      
|Income tax receivable                              |                      | 385       |                      
|Marketable securities, short terms invest.         |                      | 15        |                      
|Cash at bank                                       |                      | 8,550     |                      
|                                                   |                      |           |                      
|Total current assets                               |                      | 45,613    |                      
|                                                   |                      |           |                      
|TOTAL ASSETS                                       |                      | €103,713  |                      
|                                                   |                      |           |                      
|                                                   |                      |           |                      
|LIABILITIES AND SHAREHOLDERS' DEFICIT              |                      |           |                      
|Shareholders' deficit                              |                      |           |                      
|Ordinary shares, nominal value of €1 per share     |                      |           |                      
|18,307,756 shares issued and outstanding at        |                      |           |                      
|December 31, 2004 and September 30, 2005           |                      | €18,308   |                      
|Common shares to be issued                         |                      | 139       |                      
|Additional paid-in capital                         |                      | 185,080   |                      
|Additional paid-in capital to be issued            |                      | 3,852     |                      
|Reserve for Stock-based compensation               |                      | 1,433     |                      
|Accumulated deficit                                |                      | (167,510) |                      
|Net income (loss) for the period                   |                      | (60,288)  |                      
|Currency translation adjustments                   |                      | 6,715     |                      
|                                                   |                      |           |                      
|Total shareholders' deficit                        |                      | €(12,271) |                      
|Provisions for risks and charges                   |                      | 940       |                      
|Deferred tax liabilities                           |                      | 3,927     |                      
|Long-term debt                                     |                      |           |                      
|Long-term portion of long term debt                |                      | -         |                      
|Long-term portion of capitalized lease obligations |                      | 61        |                      
|                                                   |                      |           |                      
|Total non current debt and other liabilities       |                      | €4,928    |                      
|Current liabilities                                |                      |           |                      
|Long-term portion of long term debt classified as  |                      |           |                      
|short-term in compliance with IAS 1                |                      | 64,713    |                      
|Current portion of long-term debt                  |                      | 12,690    |                      
|Bank overdrafts                                    |                      | 2,173     |                      
|Short-term portion of provision for risks and      |                      |           |                      
|charges                                            |                      | 2,592     |                      
|Accounts payable and accrued liabilities           |                      | 13,840    |                      
|Other taxes payable and deferred compensation      |                      | 10,180    |                      
|Income tax payable                                 |                      | 2,966     |                      
|Current portion of capitalized lease obligations   |                      | 407       |                      
|Other current liabilities                          |                      | 1,495     |                      
|                                                   |                      |           |                      
|Total current liabilities                          |                      | €111,056  |                      
|                                                   |                      |           |                      
|LIABILITIES AND SHAREHOLDERS' DEFICIT              |                      | €103,713  |                      
|                                                   |                      |           |                      

---

GENESYS CONFERENCING 
  Consolidated Statements of Operations (Unaudited, in thousands of euros, except share data)

|                                    | Three months endedSeptember 30, |  | Nine months endedSeptember 30,
|----------------------------------- | ------------------------------- |  | ------------------------------
|                                    |                                
|                                    |                                 |  |                               
|                                    | IFRS                            |  | IFRS                          
|                                    |                                 |  |                               
|                                    | 2004                            |  | 2005                          
|                                    |                                 |  |                               
|Revenue                             |                                 |  |                               
|Services                            | 33,272                          |  | 36,080                        
|Products                            | 24                              |  | 29                            
|                                    |                                 |  |                               
|                                    | € 33,296                        |  | € 36,109                      
|Cost of revenue                     |                                 |  |                               
|Services                            | 13,714                          |  | 12,222                        
|Products                            | 6                               |  | 16                            
|                                    |                                 |  |                               
|                                    | € 13,720                        |  | € 12,238                      
|                                    |                                 |  |                               
|Gross profit                        | € 19,576                        |  | € 23,871                      
|Operating expenses                  |                                 |  |                               
|Research and development            | 1,000                           |  | 632                           
|Selling and marketing               | 9,045                           |  | 10,351                        
|General and administrative          | 8,210                           |  | 9,261                         
|Restructuring charge                | 457                             |  | -                             
|Impairment of goodwill and other    |                                 |  |                               
|intangibles                         | -                               |  | -                             
|Amortization of intangibles         | 750                             |  | 718                           
|                                    |                                 |  |                               
|                                    | € 19,462                        |  | € 20,962                      
|                                    |                                 |  |                               
|Operating income (loss)             | € 114                           |  | € 2,909                       
|Interest income                     | 87                              |  | 83                            
|Interest expense                    | (1,246)                         |  | (1,746)                       
|Other income (expense)              | 521                             |  | 369                           
|Equity in income of affiliated      |                                 |  |                               
|companies                           | 12                              |  | 21                            
|Income tax (expense) credit         | (614)                           |  | 346                           
|                                    |                                 |  |                               
|Net income (loss)                   | € (1,126)                       |  | € 1,982                       
|                                    |                                 |  |                               
|                                    |                                 |  |                               
|Basic net income (loss) per share   | € (0.06)                        |  | € 0.11                        
|                                    |                                 |  |                               
|Diluted net income (loss) per share | € (0.06)                        |  | € 0.11                        
|                                    |                                 |  |                               
|Number of outstanding shares used   |                                 |  |                               
|in computing basic net income       |                                 |  |                               
|(loss) per share                    | 18,446,451                      |  | 18,446,451                    
|                                    |                                 |  |                               
|Number of outstanding shares used   |                                 |  |                               
|in computing diluted net income     |                                 |  |                               
|(loss) per share                    | 18,446,451                      |  | 18,567,897                    

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GENESYS CONFERENCING 
    Notes to the Consolidated Financial Statements (Unaudited, in thousands of euros)


|                                    | Three months ended  September 30, |  | Nine months ended  September 30,
|----------------------------------- | --------------------------------- |  | --------------------------------
|                                    |                                  
|                                    |                                   |  |                                 
|                                    | IFRS                              |  | IFRS                            
|                                    |                                   |  |                                 
|NOTE A- EBITDA calculation          | 2004                              |  | 2005                            
|                                    |                                   |  |                                 
|Operating income (loss)             | 114                               |  | 2,909                           
|Impairment of goodwill and          |                                   |  |                                 
|intangible assets                   | -                                 |  | -                               
|Amortization of identifiable        |                                   |  |                                 
|intangible assets                   | 750                               |  | 718                             
|Depreciation and provisions         | 2,835                             |  | 2,088                           
|                                    |                                   |  |                                 
|EBITDA (2)                          | € 3,699                           |  | € 5,715                         
|                                    |                                   |  |                                 
|Stock-based compensation            | 302                               |  | 306                             
|                                    |                                   |  |                                 
|EBITDA before stock-based           |                                   |  |                                 
|compensation                        | € 4,001                           |  | € 6,021                         
|                                    |                                   |  |                                 
|                                    |                                   |  |                                 
|                                    | Three months ended September 30,  |  | Nine months endedSeptember 30,  
|                                    |                                  
|                                    |                                   |  |                                 
|                                    | IFRS                              |  | IFRS                            
|                                    |                                   |  |                                 
|NOTE B- DETAIL OF FINANCIAL         |                                   |  |                                 
|INCOME (EXPENSE), NET               | 2004                              |  | 2005                            
|                                    |                                   |  |                                 
|Interest and other financial income | 145                               |  | 83                              
|Foreign exchange gains              | 538                               |  | 289                             
|                                    |                                   |  |                                 
|Total financial income              | € 683                             |  | € 372                           
|Interest and other financial        |                                   |  |                                 
|expenses                            | 1,246                             |  | 1,666                           
|Foreign exchange losses             | 75                                |  | -                               
|                                    |                                   |  |                                 
|Total financial charges             | € 1,321                           |  | € 1,666                         
|                                    |                                   |  |                                 
|Financial expense, net              | € (638)                           |  | € (1,294)                       
|                                    |                                   |  |                                 
|                                    |                                   |  |                                 
|                                    | Three months ended September 30,  |  | Nine months ended September 30, 
|                                    |                                  
|                                    |                                   |  |                                 
|                                    | IFRS                              |  | IFRS                            
|                                    |                                   |  |                                 
|NOTE C  DETAIL OF INCOME           |                                   |  |                                 
|TAX EXPENSE                         | 2004                              |  | 2005                            
|                                    |                                   |  |                                 
|                                    |                                   |  |                                 
|Deferred tax credit (expense)       | 397                               |  | 571                             
|Income tax credit (expense)         | (1,013)                           |  | (225)                           
|                                    |                                   |  |                                 
|Total income tax credit             |                                   |  |                                 
|(expense)                           | € (614)                           |  | € 346                           
|                                    |                                   |  |                                 

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|                               | At December 31, |  | At September 30,
|------------------------------ | --------------- |  | ----------------
|                               |                 |  |                 
|NOTE D - DETAIL OF             |                 |  |                 
|ACCOUNTS RECEIVABLE, NET       | IFRS            |  | IFRS            
|                               |                 |  |                 
|                               | 2004            |  | 2005            
|                               |                 |  |                 
|                               |                 |  |                 
|Billed portion of accounts     |                 |  |                 
|receivable, net                | 21,523          |  | 20,464          
|Un-billed portion of accounts  |                 |  |                 
|receivable, net                | 6,260           |  | 10,230          
|                               |                 |  |                 
|                               |                 |  |                 
|Total accounts receivable, net | € 27,783        |  | € 30,694        
|                               |                 |  |                 





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US GAAP ANNEX



















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GENESYS SA

U.S. GAAP CONSOLIDATED BALANCE SHEETS

(in thousands, except share data)

|                                                                                                                              | December 31, |  | September 30,
|----------------------------------------------------------------------------------------------------------------------------- | ------------ |  | -------------
|                                                                                                                              | 2004         |  | 2005         
|ASSETS                                                                                                                        |              |  | (Unaudited)  
|Current assets:                                                                                                               |              |  |              
|Cash and cash equivalents                                                                                                     |  7,361      |  |  9,979      
|Restricted cash                                                                                                               | 1,194        |  | 408          
|Billed accounts receivable, less allowances of 2,100 at December 31, 2004 and 1,912 at September 30, 2005                   | 21,523       |  | 21,088       
|Un-billed accounts receivable                                                                                                 | 6,260        |  | 10,230       
|Prepaid expenses                                                                                                              | 1,622        |  | 2,264        
|Other current assets                                                                                                          | 4,310        |  | 5,514        
|Total current assets                                                                                                          | 42,270       |  | 49,483       
|Property and equipment, net                                                                                                   | 22,366       |  | 22,771       
|Goodwill, net                                                                                                                 | 21,834       |  | 22,020       
|Customer lists and other intangibles, net                                                                                     | 15,798       |  | 13,214       
|Investment in affiliated company                                                                                              | 212          |  | 269          
|Deferred tax assets                                                                                                           | 448          |  | 460          
|Deferred financing costs, net                                                                                                 | 1,619        |  | -            
|Other assets                                                                                                                  | 1,565        |  | 2,038        
|Total assets                                                                                                                  |  106,112    |  |  110,255    
|LIABILITIES AND SHAREHOLDERS DEFICIT                                                                                         |              |  |              
|Current liabilities:                                                                                                          |              |  |              
|Bank overdrafts                                                                                                               |  2,173      |  |  1,823      
|Accounts payable                                                                                                              | 9,488        |  | 8,456        
|Accrued liabilities                                                                                                           | 5,004        |  | 4,399        
|Accrued compensation                                                                                                          | 6,479        |  | 6,852        
|Taxes payable                                                                                                                 | 6,667        |  | 7,468        
|Current portion of long-term debt                                                                                             | 12,038       |  | 14,603       
|Current portion of capitalized lease obligations                                                                              | 187          |  | 4            
|Current portion of deferred tax liability                                                                                     | 989          |  | 891          
|Current portion of other long-term liability                                                                                  | 1,467        |  | 1,035        
|Other current liabilities                                                                                                     | 1,488        |  | 2,667        
|Total current liabilities                                                                                                     | 45,980       |  | 48,198       
|Long-term portion of long-term debt                                                                                           | 64,713       |  | 69,110       
|Long-term portion of capitalized lease obligations                                                                            | 60           |  | 50           
|Long term portion of deferred tax liability                                                                                   | 3,396        |  | 2,766        
|Other long-term liability                                                                                                     | 1,244        |  | 1,331        
|Shareholders equity (deficit):                                                                                               |              |  |              
|Ordinary shares: 1.00 nominal value and 18,307,756 shares issued and outstanding at December 31, 2003 and September 30, 2004 | 18,308       |  | 18,308       
|Common shares to be issued: 1.00 nominal value and 65,067 shares at December 31, 2003 and September 30, 2004                 | 65           |  | 65           
|Additional paid-in capital                                                                                                    | 197,129      |  | 197,129      
|Treasury shares: 22,131 shares at December 31, 2004 and September 30, 2005                                                    | (751)        |  | (751)        
|Accumulated other comprehensive income                                                                                        | 22,293       |  | 16,124       
|Accumulated deficit                                                                                                           | (246,325)    |  | (242,075)    
|Total shareholders deficit                                                                                                   | (9,281)      |  | (11,200)     
|Total liabilities and shareholders deficit                                                                                   |  106,112    |  |  110,255    











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GENESYS SA

U.S. GAAPCONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

(in thousands, except share data)

|                                                                             | Three months ended September 30, |  | Nine months ended
      September 30,
|---------------------------------------------------------------------------- | -------------------------------- |  | -------------------------------------
|                                                                             | 2004                             |  | 2005                                 
|Revenue:                                                                     |                                  |  |                                      
|Services                                                                     |  33,271                         |  |  36,080                             
|Products                                                                     | 25                               |  | 29                                   
|                                                                             | 33,296                           |  | 36,109                               
|Cost of revenue:                                                             |                                  |  |                                      
|Services                                                                     | 13,708                           |  | 12,223                               
|Products                                                                     | 6                                |  | 16                                   
|                                                                             | 13,714                           |  | 12,239                               
|Gross profit                                                                 | 19,582                           |  | 23,870                               
|Operating expenses:                                                          |                                  |  |                                      
|Research and development                                                     | 868                              |  | 600                                  
|Selling and marketing                                                        | 8,823                            |  | 10,129                               
|General and administrative                                                   | 8,113                            |  | 9,110                                
|Restructuring charge                                                         | 458                              |  |                                     
|Impairment of goodwill and other
      intangibles                           |                                 |  |                                     
|Amortization of intangibles                                                  | 952                              |  | 850                                  
|Total operating expenses                                                     | 19,214                           |  | 20,689                               
|Operating income (loss)                                                      | 368                              |  | 3,181                                
|Interest income                                                              | 44                               |  | 82                                   
|Interest expense                                                             | (749)                            |  | (3,094)                              
|Foreign exchange gain (loss)                                                 | 951                              |  | 343                                  
|Other financial expense, net                                                 | (380)                            |  | 533                                  
|Financial expense, net                                                       | (134)                            |  | (2,136)                              
|Equity in income (loss) of affiliated company                                | 12                               |  | 21                                   
|Income (loss) before taxes                                                   | 246                              |  | 1,066                                
|Income tax (expense) credit                                                  | (694)                            |  | 7                                    
|Net income (loss)                                                            |  (448)                          |  |  1,073                              
|Basic net income (loss) per share                                            |  (0.02)                         |  |  0.06                               
|Diluted net income (loss) per share                                          |  (0.02)                         |  |  0.06                               
|Number of shares used in computing basic
      net income (loss) per share   | 18,372,841                       |  | 18,372,841                           
|Number of shares used in computing
      diluted net income (loss) per share | 18,372,841                       |  | 18,372,841                           











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SIGNATURES



Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.



Dated: November 15, 2004



GENESYS SA

By:/s/ François Legros

Name: François Legros

Title: Chairman and Chief Executive Officer