Option indicates preliminary Q4 and full year 2009 results
LEUVEN, Belgium - December 2, 2009 - Option N.V. (Euronext: OPTI; OTC: OPNVY), the wireless technology company, today announced that revenues for the fourth quarter of fiscal year 2009 are expected to be in the range of EUR 20-25 million. These revenues combined with EUR 128 million for the first three quarters of 2009 will generate full year revenue in the range of EUR 148-153 million which is approximately 44% less than the full year 2008.
During the quarter a number of factors affected the indicated revenue. The key issues faced by the Company included continuing competitive pricing, continued weakness in the US dollar reducing the Euro value of that revenue and deeply discounted sales of products entering their end of life cycle.
Option anticipated that the fourth quarter of 2009 would continue to prove difficult as the company continues to transition its product portfolio and organization to an integrated software, services and hardware platform.
Option continues to believe that it is well positioned for 2010 due to:
- The significant cost savings identified and implemented during 2009
- The recently announced additional planned cost savings of EUR 20 million, the implementation of which has started including the recent closing of the Kamp-Lintfort facility as planned
- The launch of its embedded module in the Plastic Logic e-book reader announced earlier this month as an indication of new opportunities in the consumer electronics market
- The continued investment and customer interest in the Company's uCAN software platform combined with the supply chain optimized and yet highly customizable USB devices to provide an integrated solution to operators
- The anticipated strengthening of the balance sheet through the recently announced rights offering.
Audited figures for the fourth quarter and the full year 2009 will be published on March 2, 2010.
Contact
JP Ziegler, CFO
Gaston Geenslaan 14
B-3001 Leuven, Belgium
TEL: +32 (0) 16 31 74 11
FAX: +32 (0) 16 31 74 90
investor@option.com
ABOUT OPTION
Option, the wireless technology company, is a leading innovator in the design, development and manufacture of 3G HSUPA, HSDPA, UMTS, EDGE, and WLAN technology products for wireless connectivity solutions. Option has established an impressive reputation for creating exciting products that enhance the performance and functionality of wireless communications. Option is headquartered in Leuven, Belgium. The company also has Research & Development in Belgium (Leuven), Germany
(Augsburg) and an ISO 9001 production engineering and logistics facility in Ireland (Cork).
Option maintains offices in Europe, US, Greater China, Japan and Australia.
For more information please visit
Copyright ©2009 OPTION. All rights reserved. All product and company names herein may be (registered) trademarks or trade names.
During the quarter a number of factors affected the indicated revenue. The key issues faced by the Company included continuing competitive pricing, continued weakness in the US dollar reducing the Euro value of that revenue and deeply discounted sales of products entering their end of life cycle.
Option anticipated that the fourth quarter of 2009 would continue to prove difficult as the company continues to transition its product portfolio and organization to an integrated software, services and hardware platform.
Option continues to believe that it is well positioned for 2010 due to:
- The significant cost savings identified and implemented during 2009
- The recently announced additional planned cost savings of EUR 20 million, the implementation of which has started including the recent closing of the Kamp-Lintfort facility as planned
- The launch of its embedded module in the Plastic Logic e-book reader announced earlier this month as an indication of new opportunities in the consumer electronics market
- The continued investment and customer interest in the Company's uCAN software platform combined with the supply chain optimized and yet highly customizable USB devices to provide an integrated solution to operators
- The anticipated strengthening of the balance sheet through the recently announced rights offering.
Audited figures for the fourth quarter and the full year 2009 will be published on March 2, 2010.
Contact
JP Ziegler, CFO
Gaston Geenslaan 14
B-3001 Leuven, Belgium
TEL: +32 (0) 16 31 74 11
FAX: +32 (0) 16 31 74 90
investor@option.com
ABOUT OPTION
Option, the wireless technology company, is a leading innovator in the design, development and manufacture of 3G HSUPA, HSDPA, UMTS, EDGE, and WLAN technology products for wireless connectivity solutions. Option has established an impressive reputation for creating exciting products that enhance the performance and functionality of wireless communications. Option is headquartered in Leuven, Belgium. The company also has Research & Development in Belgium (Leuven), Germany
(Augsburg) and an ISO 9001 production engineering and logistics facility in Ireland (Cork).
Option maintains offices in Europe, US, Greater China, Japan and Australia.
For more information please visit
Copyright ©2009 OPTION. All rights reserved. All product and company names herein may be (registered) trademarks or trade names.
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