Board approval of the 2017 annual financial statements
The Board of Directors of Otello Corporation ASA has approved the consolidated financial statements, the parent company's financial statements and the Board of Directors' report for 2017.
There is no material change in Total comprehensive income (loss), Net cash flow from Operating activities, Operating profit (loss) and Adjusted EBITDA compared with the Q4 2017 report released on February 28, 2018.
However, in the Consolidated statement of comprehensive income, Profit (loss) from Continued operations has been decreased by USD 15.1 million, due principally to a reclassification from Foreign currency translation differences to Net financial income (expense), based on the recalculation from functional to presentation currency. Earnings per share (continuing operations) are reduced from -0.36 to -0.46 USD per share.
The Board will propose to the Annual General Meeting, to be held on June 5, 2018, that no dividend for 2017 be paid out.
Petter Lade, CFO
Phone: +47 91143878
About Otello: Otello holds shares in several different businesses, including AdColony which helps publishers monetize their content through advertising and advertisers reach the audiences that build value for their businesses, capitalizing on a global consumer audience reach that exceeds 2 billion; Apps and Games (Bemobi); "Performance & Privacy" (Skyfire);and Connected TV (Vewd).