THIRD QUARTER 2009
(Thomson Reuters ONE) - Revenue up 4% in Q309 compared to Q209MUSD 3.5 cash generated in Q309Bergen, Norway, November 19, 2009 Vizrt Ltd. (Oslo Main List: VIZ)HIGHLIGHTS# Q309 Revenues of MUSD 21.5, up 4% compared to MUSD 20.7 in Q209.# EBITDA of MUSD 2.7 in Q309, representing a 12% margin, up 32%compared to MUSD 2.0 (10%) in Q209.# EBIT of MUSD 0.6 in Q309, compared to MUSD 0.5 in Q209.# Total backlog to date is MUSD 34.4, compared to MUSD 27.5 in Q209,up 25%, due to securing a lot of support agreements.# Strong cash generation of MUSD 3.5 during Q309.# The Company is required to perform an annual impairment test on thegoodwill related to the Escenic acquisition. The September 30, 2009test is under way, and expected to be com-pleted by mid-February,2010. If the company determines that any portion of goodwill isim-paired, it will recognize a non-cash charge that would impactearnings and earnings per share for the third quarter of 2009presented in this press release, as well as for the full financialyear ended December 31, 2009.OUTLOOKBjarne Berg, President and CEO, stated: "We will soon finalize thebudget and planning for 2010. The extensive planning process providesus with very useful intelligence about the current market conditions.We talk to a large number of custom-ers, potential customers andothers with knowl-edge of our industry all over the world. Thesignals we are getting from the media companies are still mixed. Mostof them do not believe they will ever see earnings like they did inthe first 8 years of this century, but at the same time, most ofthose we spoke with believe they have to invest in order to get asmuch as possible out of the advertising market.The majority of customers also tell us that the downsizing they wentthrough during the last cou-ple of years has left them with littlemanagement capacity for developing new formats and improvedworkflows. After all, if you recently let hundreds of people go, thatmust impact dramatically on your ability to manage an increase inactivity. The next stage of this exercise must be to consider newformats and a better workflow. With fewer em-ployees at yourdisposal, you need to work smarter. Since Vizrt is a company thatfocuses its energy on improving its customers' workflows, many mediacompanies are turning to us for advice and help across all mediaplatforms. We know that many of them have reached that phase rightnow and we know that many more will be added to the list during 2010.Therefore, we are still hopeful that we will continue to grow bothduring the next quarter and in the quarters to come. For the nextthree quarters, we are forecasting a moderate growth, but we arecau-tiously optimistic that during H2 2010 we might see growth ratesapproaching those we experi-enced in previous years.The Full Q3 2009 Report and Managment Presentation can be reviewedvia the PDF-Downloads.The international Conference Call will be held at 14:00 h (CET)Please use one of the following dial-in-numbers:+44 (0)20 7784 1038 (UK)+47 2156 9640 (Norway)+49 (0)69 2222 7436 (Germany)+1 347 366 9564 (US)Participant Passcode: 687125Investors and media 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/1355987/329364.pdfhttp://hugin.info/138784/R/1355987/329365.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 19.11.2009 - 07:30 Uhr
Sprache: Deutsch
News-ID 8603
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