Birkeroed,, 2011-11-15 13:37 CET (GLOBE NEWSWIRE) -- Announcement no. 10-2011
Decent performance in the third quarter: revenue and EBITDA in line with expectations. The initiatives approved by our Board of Directors in its review of our strategy plan were implemented during the quarter. The resulting effects will not feed through to revenue until in 2012. Management confirms the guidance for 2011.
CEO Kurt Bager said: We had a decent performance in the third quarter, as revenue and EBITDA were in line with our expectations. Revenue was not quite at last year's level, as especially the low USD/DKK exchange rate had a negative impact, but in local currency terms we're very close to last year, and that's encouraging considering the current market conditions. We have implemented the strategic initiatives approved by our Board in connection with the revised strategy announced in August. For example, we have run a number of marketing campaigns promoting Live Chat and have been getting good response. We're beginning to see growing interest for our Live Chat product in the US market. We have now primed our organization to further support the growth potential of the Live Chat product, and we expect to hire in the last of the resources we need to support our efforts in the remote control segment of the tablet and smartphone markets.
Highlights
- Revenue amounted to DKK 21.6 million in Q3 2011, compared with DKK 23.2 million in Q3 2010. The decline was mainly due to the lower USD/DKK exchange rate, which reduced Q3 2011 revenue by DKK 1.2 million. The 9M revenue was DKK 63.7 million, compared to DKK 66.2 million in the same period of 2010.
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EBITDA amounted to DKK 1.2 million in Q3 2011, against DKK 2.6 million in Q3 2010. EBITDA for the nine months to September 30, 2011 was DKK 0.5 million, against DKK 5.7 million in 9M 2010. The 2010 EBITDA profit included a one-off gain of DKK 5.0 million.
- Netop Solutions recorded a net loss of DKK 1.9 million in Q3 2011, against a DKK 3.6 million loss in Q3 2010. The company recorded a net loss of DKK 8.4 million for the nine months to September 30, 2011, against a DKK 4.5 million loss in 9M 2010. The 2010 net loss included a one-off gain of DKK 5.0 million.
- Management confirms the guidance for 2011 announced on August 16, 2011: we continue to expect FY 2011 revenue in the DKK 90-95 million range and FY 2011 EBITDA in the DKK 0-5 million range.
Netop Solutions A/S
Netop develops and sells software solutions enabling swift, stable and secure transfer of video, screen images, sound and data between two or more computers. The company has three core business areas: Secure Remote Control, Classroom Management og Live Chat. Netop Remote Control is the most scalable and secure solution available on the remote control market today and more than half of the Fortune 100 companies apply this unique solution. Companies all over the world use Netop Remote Control to cut their support costs and comply with tough security requirements. Netop Solution’s market-leading Classroom Management solutions for digital classroom management help students and teachers in 75 countries achieve results through virtual teaching. Greater efficiency and higher grades are but some of the results. Netop Live Guide, Netop's live chat solution, is a unique chat solution that enables businesses to offer better customer service, enhance their efficiency and sales and convert online visitors to customers. Netop has 130 employees and subsidiaries in the USA, the UK, Romania, China and Switzerland. The company sells its solutions to public and private sector customers in more than 80 countries. Netop Solutions A/S is listed on NASDAQ OMX Copenhagen. Netop generated revenue of DKK 92.1 million in 2010. For more information, go to www.netop.com.
Translation In the event of any inconsistency between this document and the Danish language version, the Danish language version shall be the governing version.
Chief Executive Officer Kurt Bager
Tel: +4545902525
E-mail:kgb@netop.com
