2007-02-06
Birdstep positioned for continued growth
Oslo/Stockholm/Seattle/San Francisco/Cambridge – February 7, 2007
Birdstep Technology ASA's consolidated revenues grew to NOK 15.1 million for the fourth quarter 2006, corresponding to an increase of group revenue of 30 %. Wireless revenue grew with 95%, proving real market growth for seamless connectivity and mobility. The industry is now going mass-market and enters a consolidation phase where Birdstep intends to play an active role.
“In 2006, Birdstep made significant investments in R&D and market initiatives to strengthen our position before the industry goes mass-market. As the leading player in an unconsolidated industry, Birdstep intends to take an active part in the consolidation. Market leaders will be capable of having the complete portfolio required by major customers, and we believe 2007 will be the year of consolidation, says Petri Markkanen, CEO of Birdstep Technology.
Birdstep's fourth quarter 2006 consolidated revenues was NOK 15.1 million, compared to NOK 11.6 million for the fourth quarter 2005, representing an increase of 30%. The EBITA before cost of options was NOK (7.9) in fourth quarter 2006, against NOK (13.4) million in the fourth quarter 2005. Cash and cash equivalents at the end of the quarter were NOK 63.1 million for the group.
“During fourth quarter Birdstep acquired US based client software company Aramova, while T-Mobile international and TMN Portugal placed substantial orders on additional laptop client license software. Birdstep was also awarded a contract on high performance database technologies by General Dynamics for maritime helicopters, says Markkanen.
Birdstep's wireless revenues increased with 95% to NOK 8.2 million in the fourth quarter, compared to NOK 4.2 million in the fourth quarter 2005. The embedded database technologies segment generated a positive EBITA of NOK 1.8 million, in line with the corresponding quarter in 2005.
“Birdstep is uniquely positioned to be a leading player when this industry goes mass-market. For 2007, we expect solid growth, both in terms of customers and revenues, says Petri Markkanen.
For further information, please contact:
Petri Markkanen, CEO of Birdstep Technology ASA, phone +46 70 323 33 22
