Operating revenues in the Q307 were NOK 84.5 million, up 19 percent from NOK 70.8 million in Q306.
EBITDA for the Q307 was NOK 9.3 million, compared to NOK 6.8 million in Q306.
The acquisition of US based Micro Memory brings VMETRO closer to its US customers, the company’s biggest market, and gives a more complete product portfolio.
Increased focus on VMETRO products pays off. Sales of own products were NOK 57.4 million in Q307 compared to NOK 46.5 million in Q306.
Total order reserve at the end of Q307 were NOK 113.2 million, up from NOK 94.4 million at the end of Q207. Order reserve of VMETRO products by the end of Q307 were NOK 76.4 million, up from NOK 46.3 million at the end of Q207.
- The 3rd quarter shows improvements. It is reassuring that VMETRO’s investments in own products creates results, both order intake and order reserve are at the highest level ever. We have a sound product roadmap and expect to see growth within own products, says CEO Christian Jebsen.
VMETRO’s strategy to strengthen its position within the defense market, widen the portfolio of own products and diversify into new markets by adapting existing technology or through acquisitions – are on track.
- After the acquisition of Micro Memory in Q3 and 3d-Radar in Q2 our focus will be on continued organizational realignments and increased sales of own products, says Jebsen.
There is a risk that some deliveries that are due in 2007 will be deferred into 2008. In addition, the unfavorable development in the NOK/USD exchange rate has influenced the 2007 result negatively. Although the company expects a positive operating result in Q407, the operating result for the full year 2007 will be negative.
The company is encouraged by the growth in order intake and order reserve of VMETRO products in Q307, which is at the highest level ever. This is in line with the company’s strategy to increase the sales of its own high margin products. With a sound product roadmap, continued organizational realignments and the acquisition of Micro Memory and 3D-Radar, this trend is expected to continue.
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