SOURCE: Option

February 28, 2008 02:10 ET

OPTION REPORTS FOURTH QUARTER AND FULL YEAR 2007 RESULTS

LEUVEN, BELGIUM--(Marketwire - February 28, 2008) - Option N.V. (EURONEXT Brussels: OPTI; OTC: OPNVY), the wireless technology company, today announced its results for the fourth quarter and the full fiscal year ended December 31, 2007. 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 (IFRS). The accounting policies and methods of computation followed in the attached financial statements are the same as those followed in the most recent annual financial statements.

Financial Highlights of the full fiscal year and fourth quarter 2007

* Full year revenues were EUR 301.5 million, an increase of 7.7% compared with EUR 279.9 million revenues realized during the full year 2006.

* Gross profit for the year was EUR 89.2 million, a decrease of 14.7% compared with EUR 104.6 million in 2006. Gross margin in the full year 2007 was 29.6%, compared with a gross margin of 37.4% in 2006.

* EBIT decreased to EUR 2.5 million or 0.8% on total revenues during the full year 2007 compared with EUR 42.1 million in 2006.

* Net profit decreased to EUR 6.4 million, or EUR 0.16 per basic share. This compares with a net profit of EUR 35.3 million, or EUR 0.86 per basic share in 2006. The 2007 net result was positively impacted by taxes of EUR 3.8 million resulting from the adjustments posted.

* Total revenues for the fourth quarter of 2007 were EUR 69.9 million compared with EUR 63.4 realized in the last quarter of 2006. Excluding adjustments not specifically related to Q4 2007, revenues would have been EUR 73.8 million.

* Gross margin in Q4 2007 was 19.1% on total revenues, compared with gross margin of 32.9% of Q4 2006. Excluding adjustments not specifically related to Q4 2007, gross margin was 33.5%.

* The quarterly EBIT amounted to EUR -14.0 million or -20.1% on total revenues compared with EUR 7.1 million or 11.2% during the corresponding period in 2006. Excluding adjustments not specifically related to Q4 2007, EBIT would have been EUR 453 thousand.

* Net result for the fourth quarter of fiscal year 2007 amounted to EUR -8.5 million, or EUR -0.21 per basic share. This compares with a net profit of EUR 6.4 million, or EUR 0.16 per basic share. The Q4 2007 net result was positively impacted by taxes of EUR 5.9 million resulting from the adjustments posted.

* Cash flow for the year 2007 was positive EUR 266 thousand and EUR -1.1 million for the quarter.

For the entire press release in English or in Dutch, including tables click on the link below:

Option reports fourth quarter and full year 2007 results: http://hugin.info/133962/R/1196044/242878.pdf

Option geeft resultaten voor Q4 en FY 2007: http://hugin.info/133962/R/1196044/242883.pdf

For further information please contact:
Jan Callewaert, Founder & CEO
JP Ziegler, CFO
Gaston Geenslaan 14
B-3001 Leuven, Belgium
TEL: +32 (0) 16 31 74 11
FAX: +32 (0) 16 31 74 90
E-mail: investor@option.com

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