Birkeroed, 26 April 2011, 2011-04-26 14:30 CEST (GLOBE NEWSWIRE) -- Announcement no. 5-2011
April 26, 2011
- Revenue was DKK 20.7 million in Q1 2011, compared to DKK 20.4 million in Q1 2010. The main reason for this relatively small revenue increase was the fact that Administration did not close a number of large contracts at the rate management had expected.
- The Q1 Administration revenue was DKK 11.5 million, compared to DKK 11.8 million in Q1 2010. The Q1 Education revenue was DKK 7.9 million against DKK 7.6 million in the same period of last year, while revenue from Communication, which is still a relatively new business area for Netop Solutions, amounted to DKK 0.9 million (Q1 2010: DKK 0.6 million).
- Revenue in the EMEA/APAC region was DKK 10.9 million in Q1 2011, compared to DKK 11.7 million in Q1 2010. US revenue totaled DKK 9.8 million, against DKK 8.7 million in Q1 2010.
- EBITDA was DKK 0.2 million in Q1 2011, against DKK 1.7 million in the same period of last year. In Q1 2010, EBITDA included non-recurring income of DKK 5.0 million from the sale of the Mobile Embedded technology. Adjusted for this non-recurring income, the comparable EBITDA-figure for Q1 2010 was a loss of DKK 3.3 million.
- We recorded an operating loss (EBIT) of DKK 2.4 million in Q1 2011 compared to a DKK 0.8 million profit in the year-earlier period.
- Netop Solutions recorded a net loss of DKK 2.3 million in Q1 2011, against a DKK 2.4 million profit in Q1 2010.
- Management retains the guidance for 2011 announced at the release of the 2010 Annual Report: revenue in the DKK 97–102 million range and EBITDA in the DKK 7–12 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 over the Internet. The company has three core business areas: Administration, Education and Communication. Netop’s unique and cost-saving Administration solutions makes work easier for IT professionals through secure remote control solutions. Netop’s market-leading Education solutions for classroom management and corporate e-learning help students and teachers achieve optimum results through virtual teaching. Netop’s Communication solutions allow customers, business partners and colleagues to meet easily and safely in virtual space through chat, video or voice over the Internet. Netop has 130 employees and subsidiaries in the USA, the UK, Romania 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
Phone: 45 90 25 25
E-mail:kgb@netop.com
