DGAP-News: Vtion Wireless Technology AG: Strong Growth in Q1 2010
(firmenpresse) - Vtion Wireless Technology AG / Quarter Results
10.05.2010 08:19
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2010 Q1 Preliminary Results
- Q1 2010 sales volume of 636,309 units, an increase of 319% over Q1 2009
sales volume
- Q1 sales revenue of EUR 26.3 million, an increase of 263% over Q1 2009
- EBIT of EUR 7.65 million, EBIT margin of 29%
Frankfurt, 10 May 2010. Vtion Wireless Technology AG, one of the top
providers of wireless data solutions for mobile computing in China,
announces its preliminary first quarter 2010 financial results. The
company's sales volume reached 636,309 units, approx. 319% more than sales
volume in Q1 2009. Revenue reached EUR 26.3 million, which is 263% more
than the sales revenue of Q1 2009. The company's first quarter EBIT was EUR
7.65 million, a margin of 29%, which is an increase over the company's FY
2009 EBIT margin of 27.8%.
'We are pleased to see our year off to such a strong start,' states Vtion
CEO Chen Guoping. 'In particular, our high revenues show that we have been
able to take advantage of constantly growing demand in the Chinese 3G
market, through attractive products and effective cooperation with the
telecom operators. Our EBIT margin for the quarter is stronger than that of
full-year 2009, reflecting our attention to our margins.'
Beginning in the second quarter of 2010, Vtion will announce sales volumes
and average selling prices on a quarterly basis, in order to maintain
transparency while keeping a competitive advantage in its sales and
marketing efforts.
The Chinese 3G Market
The Chinese wireless network industry is currently going through a process
of market development from second generation networks to network standards
of the third mobile phone generation - known as 3G standards. China is the
only country in the world with three different 3G wireless standards, the
CDMA 2000 EVDO Network operated by China Telecom, the WCDMA Network
operated by China Unicom and the TD-SCDMA Network operated by China Mobile.
Network rollouts for the latter two networks are still in progress; the
Vtion Group is expecting the completion of the establishment of 3G mobile
networks to lead to a further increase in demand for wireless data cards in
China.
About Vtion
The Vtion Group is one of the three leading suppliers of wireless data
cards and associated services for the mobile use of computers via broadband
wireless networks in the People's Republic of China. The Vtion Group
concentrates mainly on the development and sale of wireless data cards,
including provision of appropriate after-sales services. The Vtion Group
also supplies Internet-based data service solutions. The company has about
150 employees. The Vtion Group generated sales of EUR 67.6 million and a
net profit of EUR 16.5 million in 2009.
The Vtion Wireless Technology AG shares are being traded in the Prime
Standard on the Frankfurt Stock Exchange with the ISIN DE000CHEN993. The
company's ticker symbol is V33.
Disclaimer concerning prognoses
Certain statements in this communication contain formulations or terms
referring to the future or future developments, as well as negations of
such formulations or terms, or similar terminology. These are described as
forward-looking statements. In addition, allinformation in this
communication regarding planned or future results of business segments,
financial classification numbers, developments of the financial situation,
or other financial or statistical data contains such forward-looking
statements. The company cautions prospective investors not to rely on such
forward-looking statements as certain prognoses of actual future events and
developments. The company is neither responsible nor liable for these
forward-looking statements. It is not responsible for updating such
information, which only represents the state of affairs on the day of
publication.
For further information, please contact:
Kirchhoff Consult AG
Dr Kay Baden, tel.: +49 40 60 91 86 0, baden(at)kirchhoff.de
Janina Wismar, tel.: +49 40 60 91 86 50, janina.wismar(at)kirchhoff.de
or visit the company website at: www.vtion.de
10.05.2010 08:19 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: Vtion Wireless Technology AG
Westhafen Plaza 1
60327 Frankfurt
Deutschland
Phone: +49 69 710 456 245
Fax: +49 69 710 456 248
E-mail: ir(at)vtion.de;janina.wismar(at)kirchhoff.de
Internet: www.vtion.de
ISIN: DE000CHEN993
WKN: CHEN99
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
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Datum: 10.05.2010 - 08:19 Uhr
Sprache: Deutsch
News-ID 20536
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Kategorie:
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