Back in Black
(Thomson Reuters ONE) - Revenue up 21% in Q209 compared to Q109Backlog at 27.5 MUSD, up 36 %Bergen, Norway, August 20, 2009 Vizrt Ltd. (Oslo Main List, FrankfurtPrime Standard: VIZ) today announces its results for H1 and Q2 of2009.HIGHLIGHTS- Q209 Revenues of MUSD 20.7, up 21% compared to MUSD 17.2 in Q109.- EBITDA of MUSD 2.0 in Q209, representing a 10% margin, compared toMUSD -0.7 in Q109.- EBIT of MUSD 0.5 in Q209, compared to MUSD -2.4 in Q109.- Total backlog to date is MUSD 27.5, compared to MUSD 20.3 in Q109,up 36%.- Following the Company's decision to consolidate its public listingon the Oslo Stock Exchange, the effective delisting date from theFrankfurt Stock Exchange will be October 28th 2009.OUTLOOKBjarne Berg, President & CEO, stated: "The numbers we are presentingtoday show that, compared to our first quarter, we are slowly gettingback on the road to recovery. Earlier this year, the advertisementdriven media houses, which act as a reasonable barometer for thestate of the economy in our sectors, applied all the brakes to anyhope of immediate economic growth. However, now it seems they areback on the move again - albeit in a low gear.Whether many of them will put their feet on the accelerator in aconcerted and sustained way this autumn - it is much too early totell. However, on a daily basis we are seeing small but encouragingsigns of recovery in the world-wide economy, even if some of them maybe followed by negative news the next day.All in all, most analysts are cautiously optimistic and for the firsttime some are predicting that the worst is over. That may be the casefor the market sectors that traditionally respond quickly to anymarket movement. But for others, for whom the impact of economicchange is always delayed, the worst effects may still not have beenfelt, and so could yet lead to layoffs and postponed spending. Ourbroad mix of government-owned and commercially-funded customersoccupy both positions, so we find ourselves positioned squarelybetween these two extremes. However, when all the indicators aretaken into account, it is clear that sales are moving gradually backtowards normality - although we are not sure that the "new normal"will be like the "old normal".To summarize, comparing Q2 to Q1 for sales and feedback fromprospective customers gives us reasonable cause for optimism. Howeverthe major markets are still very fragile and until we see a sustainedperiod of upward movement, we would be unwise to make start makingany firm predictions for the next quarters."The FULL REPORT and MANAGEMENT PRESENTATION are provided as PDFdownload via the link at the end of this message.A conference call will be held at 11:00 (CEST) today to offeranalysts, investors and media the opportunity to directly discuss theresults and recent developments with Bjarne Berg, CEO, and OfraBrown, CFO of the company. Please use one of the followingdial-in-numbers: +44 20 7784 1038 (UK), +47 2156 9640 (Norway), +4969 2222 7436 (Germany). Participant Pass Code: 709396.Press contacts:Bjarne BergPresident & CEO+47 9055 7711bberg(at)vizrt.comOfra BrownCFO+47 5351 8040ofra(at)vizrt.comSCHWARZ Financial CommunicationFrank Schwarz+49 611 1745 398 11schwarz(at)schwarzfinancial.comhttp://hugin.info/138784/R/1335968/317701.pdfhttp://hugin.info/138784/R/1335968/317702.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 20.08.2009 - 07:31 Uhr
Sprache: Deutsch
News-ID 4894
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