Helsinki, Finland, 2012-04-23 08:00 CEST (GLOBE NEWSWIRE) --
Tectia Corporation STOCK EXCHANGE RELEASE 23.04.2012 AT 9:00 A.M.
TECTIA CORPORATION ESTIMATES FULL YEAR 2012 SALES TO INCREASE
For the fiscal year 2012, Tectia estimates its net sales are likely to increase from 2011. Due to continuing uncertainties Tectia believes it is not justified to give profitability estimates for the year 2012.
For the fiscal year 2012, Tectia has not given net sales guidance earlier.
As Tectia announced 23.3.2012, company estimates based on unaudited and preliminary information, that as forecasted the revenue of the first quarter 2012 will grow compared to first quarter 2011. Most likely the company’s net sales for the first quarter 2012 will be more than EUR 2,5 million. 16.04.2012 company announced a deal with governmental organization worth of EUR 0,5 million. Under these circumstances together with continued solid maintenance business, company believes that net sales for the year 2012 are likely to increase from 2011.
Tectia believes that it is not justified at the moment to give profitability estimates for year 2012 mainly due to following reasons:
- amount of R&D investment into new still under development products, starting the delivery and sales of the new products and demand;
- timing of individual large licence contracts will influence remarkably profitability of the company
- in addition the macroeconomic environment increasingly complicates future outlook estimates and reliable target setting;
- large portion of company revenue is invoiced in USD currency so possible large fluctuation in USD currency rates during 2012 could have unpredictable effects into profitability that are at the time difficult to estimate.
Helsinki, April 23, 2012
TECTIA CORPORATION
Tatu Ylönen
CEO
For further information, please contact:
Tatu Ylönen, CEO, tel. +358 20 500 7000
Jyrki Lalla, CFO, tel. +358 45 3404641
Distribution:
NASDAQ OMX Helsinki Ltd.
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