Birkeroed, 2012-05-08 13:13 CEST (GLOBE NEWSWIRE) -- Announcement no. 5-2012
Netop Solutions A/S – Interim report for the first quarter
Solid performance during the first quarter with decent 12% revenue growth relative to Q1 of last year. The revenue growth was in line with management’s expectations and Netop Solutions continued to invest in product development and marketing of the Secure Remote Control and Live Chat segments. Management confirms the guidance for FY 2011.
CEO Kurt Bager said: “Our revenue growth is consistent with our guidance. Secure Remote Control is a main contributor, driven by a good performance in the Nordic market where we won a major order. The Classroom Management and Live Chat segments both delivered revenue improvements relative to last year, but the Live Chat segment didn't meet our expectations. The inflow of new customers is below our target, but our pipeline is expanding steadily, and I'm confident that we will meet our very ambitious target of a major revenue improvement for 2012. We've built a strong sales organization in Denmark, we have an experienced and competent sales management for the EMEA region, and our pipeline of customers in that region's Enterprise segment is expanding steadily. We have a good sales model and have become better at communicating the business opportunities our products can provide for both new and existing customers. We see a huge potential for our products in the US, which is our most important single market. So in order to strengthen our efforts there, I've decided to relocate to Chicago for an extended period of time and thereby move closer to the market and our customers.”
Highlights
- Revenue amounted to DKK 23.2 million in Q1 2012, an increase of 12% from DKK 20.7 million in Q1 2011.
- Revenue in the Secure Remote Control segment amounted to DKK 12.9 million, against DKK 11.5 million in Q1 2011. Classroom Management revenue was DKK 8.2 million in Q1 2012 against DKK 7.9 million in the same period of last year, while revenue from Live Chat amounted to DKK 1.0 million (Q1 2011: DKK 0.9 million).
- Revenue in the EMEA/APAC region was DKK 13.5 million in Q1 2012, compared with DKK 10.9 million in Q1 2011. US revenue totaled DKK 9.7 million, against DKK 9.8 million in Q1 2011.
- EBITDA was a loss of DKK 0.9 million in Q1 2012, against a DKK 0.2 million profit in Q1 2011. The setback was in line with management's expectations and was due to the greater business activity and the resulting sale and marketing costs.
- Netop Solutions recorded a net loss of DKK 4.7 million in Q1 2012, against a loss of DKK 2.3 million in Q1 2011.
- Management confirms the guidance for 2012 announced on March 13, 2012: We continue to expect FY 2011 revenue in the DKK 95-105 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 and 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 into customers. Netop has about 155 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 88.3 million in 2011. For more information, go to www.netop.com.
Kurt Bager (CEO)
Tel.: +45 45 90 25 25
E-mail:kgb@netop.com
