LEUVEN, BELGIUM--(Marketwire - Aug 31, 2012) - Option N.V. (EURONEXT Brussels: OPTI; OTC:
OPNVY), the wireless technology company, today announced its results for the
first half fiscal year ended June 30, 2012. The financial information reported
in this release is presented in Euros and has been prepared in accordance with
the recognition and measurement criteria of IFRS as adopted by the European
Union. The accounting policies and methods of computation followed in the
attached financial statements are the same as those followed in the most
annual financial statements. The company released its IAS 34 interim financial
Option transformed its business over the last 18 months and, as a result,
activity is now based on three strategic pillars: Connectivity,
At the Mobile World Congress in Barcelona, Option showcased the XYfi,
Cloudkey and GlobeSurfer III+. Based on feedback of the market and
customers, these products and solutions were further developed and are now
They are the proof that the Group has moved from basic products for
network operators (MNO's), towards End-to-End solutions for businesses
consumers. The offering is now positioned towards vertical markets such
automotive, financial services, security & surveillance.
After 18 months of development of these new products & services, the Group
now ready to start generating return on investment (ROI) from recurring sales.
Financial Highlights of the first half fiscal year 2012
* Total revenues for the first half year of 2012 were EUR 23.2 million
compared with EUR 25.8 million realized in the first half of 2011. Product
related revenues decreased from EUR 11.5 million to EUR 6.0 million, while
software and license revenue increased from EUR 14.2 million to EUR 17.2
million. The recognized license revenue from Huawei was EUR 16.5 million,
compared with EUR 13.5 million for the first half of 2011.
* Gross margin for the first half year 2012 was 75.6 % on total revenues,
compared with a gross margin of 54.6 % for the comparable period in 2011.
The gross margin was positively influenced by the increased license
* Compared to the first half year 2011, total operating expenses in the
half year 2012 decreased from EUR 17.5 million to EUR 14.0 million by
reducing development and sales and marketing costs.
* The first half year 2012 EBIT and net profit amounted to respectively
3.5 million and EUR 3.7 million compared with EUR -3.5 million and EUR -
million during the corresponding period in 2011.
* The cash position decreased from EUR 25.2 million at the end of 2011 to
13.0 million due to a negative cash flow from operating activities of EUR
9.1 million and from cash flow used in investing activities from EUR 3.1
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Source: Option via Thomson Reuters ONE