Announcement no. 19-2010
17 August 2010
Profit announcement for the second quarter and first half year of 2010
In the second quarter, Netop Solutions remained focused on restoring positive
operations. Costs have been optimised and adjusted, and the expected results
from the sales strategy focusing on the Enterprise market have begun to
materialise. Revenue is increasing in line with management's expectations.
Netop Solutions generated EBITDA in the amount of DKK 1.3m in Q2 2010 against a
DKK 13.8m loss in the year-earlier period. EBITDA was a profit of DKK 3.0m in
H1 2010 against a loss of DKK 26.9m in the same period of last year. Management
retains its full-year forecast for 2010.
•In Q2 2010, revenue totalled DKK 22.5m against DKK 21.6m in Q2 2009, bringing
H1 revenue to DKK 43.0m in H1 2010 against DKK 47.7m in H1 2009. Revenue was in
line with expectations.
•Administration revenue amounted to DKK 12.9m, a 55% increase from DKK 8.3m in
Q2 2009. This increase was mainly driven by the focus on the Enterprise segment
in which Netop Solutions has seen an inflow of new customers. Education revenue
amounted to DKK 9.0m in Q2 2010 against DKK 10.9m in the year-earlier period,
the decline primarily being due to a continuing reluctance to making public
investments in the school sector, mainly in the USA. Communication revenue,
which is still a relatively new business area for Netop Solutions, amounted to
DKK 0.6m.
•Revenue in the EMEA/APAC region was DKK 11.1m in Q2 2010, compared with DKK
12.0m in Q2 2009. US revenue totalled DKK 11.4m against DKK 9.6m in Q2 2009.
•EBITDA for Q2 2010 was a profit of DKK 1.3m against a loss of DKK 13.8m in
the same period of last year. EBITDA was a profit of DKK 3.0m in H1 2010
against a loss of DKK 26.9m in the same period of last year. The profit for H1
2010 included a DKK 5.0m gain from the sale of Mobile Embedded.
•EBIT was a loss of DKK 2.1m in Q2 2010, compared with a loss of DKK 16.8m in
the year-earlier period. H1 2010 EBIT was a loss of DKK 2.8m, compared with a
loss of DKK 33.4m in H1 2009.
•Netop Solutions recorded a net loss of DKK 3.3m in Q2 2010 against a DKK
15.6m loss in Q2 2009. The net loss for H1 2010 amounted to DKK 0.9m against a
loss of DKK 29.8m in H1 2009.
•Management retains its full-year guidance for 2010 of revenue in the DKK
80-90m range and EBITDA of DKK 0-5m.
Contact
Kurt Bager (CEO)
Tel: +45 45 90 25 25
E-mail:kgb@netop.com
About 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 142 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 85.3m in 2009.
For more information, go to www.netop.com
Netop Solutions A/S
Bregnerødvej 127
DK-3460 Birkerød
CVR 16 22 15 03
T +45 4590 2525
F +45 4590 2526
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.
