2007-08-15
Birdstep delivers on strategy
Filing to Oslo Stock Exchange
Birdstep Technology ASA's wireless revenues in the second quarter 2007 grew with 91 % to NOK 15.3 million, from NOK 8.0 million in the same quarter the previous year. With the acquisitions of ServiceFactory, Segco Software and Aramova, Birdstep has taken the position as the leading global provider of mobility solutions. Consolidated revenues including database grew to NOK 20.3 million in the quarter
Entered this year, we named 2007 as the year of consolidation. When only market leaders will have the capacity to deliver the complete portfolio required by major customers, leading this consolidation became essential for Birdstep. Consequently, Birdstep has acquired ServiceFactory, Segco Software and Aramova, taking the position as the leading global provider for mobility solutions with a wireless revenues growth of 91 %, says Petri Markkanen, CEO of Birdstep Technology.
Birdstep`s second quarter 2007 consolidated revenues was NOK 20.3 million, compared to NOK 12.0 million for the second quarter 2006, representing an increase of 69%. EBITA improved to NOK (5.7) million for the second quarter 2007 from NOK (7.9) million for the second quarter 2006. Cash flow from operations improved from NOK (12.4) million to NOK (4.8) million, excluding investments in VoiceRoaming AS. Cash and cash equivalents at the end of the quarter were NOK 142.2 million for the group after the private placements in June.
Including the acquired companies, Birdstep`s wireless revenues increased with 91% to NOK 15.3 million for the second quarter compared to NOK 8.0 million for the second quarter 2006. The embedded database technologies segment revenue was NOK 4.8 million, compared to NOK 4.0 million in the corresponding quarter last year.
` With the three latest acquisitions in place, Birdstep is entering stage four of our business plan: Business growth through market, customer and product synergies, says Markkanen.
Birdstep is presenting the interim report at Felix Konferansesenter at 08:00 CET. The presentation is available at: (mms://mms1.online.no/cmltpub/hegnar/070815_birdstep.wmv)
For further information, please contact:
Petri Markkanen, CEO of Birdstep Technology ASA,
phone +46 70 323 33 22
Second quarter 2007 report