Announcement no. 25 -2008
26 November 2008
Integration process completed
Netop Solutions has worked intensively to complete and implement an optimum
organisation since acquiring Genevalogic and signing the distributor agreement
with Medianet. These efforts have now been completed and our employees will be
informed about the new organisation over the next few days.
As part of the integration of the new activities and the need to enhance the
efficiency of our entire business, Netop Solutions will be making a number of
organisational adjustments.
These measures to adjust and optimise the organisation entail dismissing
approximately 30 employees of our current staff of some 170 employees and
closing down our office in Aarhus and relocating our office in Slagelse. As a
result, we will be able to reduce our net costs by DKK 20-30 million on a
full-year basis, some DKK 10 million of which we expect to save in 2009. The
adjustments are made to achieve a more flexible and versatile organisational
structure. The changes will be implemented by end-2008.
Outlook
The planned changes will not affect the guidance already provided for 2008,
which is expected to remain unchanged (cf. announcement no. 24 of 18 November
2008), and will not feed through until in 2009.
Management expects the investments made through acquisitions and efficiency
enhancements and the organisational adjustments mentioned above to generate
substantially higher revenue and improved profitability in 2009.
Contact
CEO Kurt Bager
Tel.: +45 45 90 25 25
E-mail: kgb@netop.com
CFO Claus Finderup Grove
Tel.: +45 45 90 25 25
E-mail: cfg@netop.com
About Netop Solutions A/S
Netop Solutions' core business is to develop and market software products based
on the NetOp® core technology - a technology enabling swift, secure and seamless
transfer of screens, sound and data between two or more computers. The company
has three core business areas: Administration, Education and Communication. The
core product in Administration, NetOp® Remote Control, enables remote control of
one or more distant computers. NetOp® School, the core product in Education, is
a software application for computer-based classroom teaching. The Netop Live
product, the core product in Communication, facilitates web-based secure,
attentive, fast and personal communications for the user. Netop Solutions'
products are sold in more than 80 countries. In 2007, the company generated
revenue of about DKK 85m. Netop Solutions' shares are listed on NASDAQ OMX
Copenhagen and are a component of the Small Cap+ index. Netop Solutions operates
wholly owned subsidiaries in the United States, the UK and Germany. 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.
