Q-FREE ASA - RESULT FOR THE FOURTH QUARTER 2010

"Good progress has been achieved during the fourth quarter 2010. We have signed contracts for more than 550 MNOK post 3rd quarter, and reestablished positive operating results and positive cash flow, - even at moderate revenue level", says CEO Dr. Øyvind Isaksen.

HIGHLIGHTS //  

•            Revenues 139 MNOK, 49 % reduction compared to Q4-09.
•            Operating profit (EBIT) 2.5 MNOK,  1.8 % margin
•            Pretax profit 8.1 MNOK, 5.9 % margin 
•            Cash position strengthened, and expected to improve further in the coming quarters
•            Order intake 248 MNOK
•            Order backlog 575 MNOK

Enclosures: Quarterly report and presentation 

Trondheim, 8 February 2011

For further information, please contact:

CEO Øyvind Isaksen, cell: 47 905 59 401

CFO Roar Østbø, cell: 47 932 45 175           

About Q-Free

Q-Free is a leading global supplier of solutions and products for Road User Charging and Traffic Surveillance having applications mainly within electronic toll collection for road financing, congestion charging, truck-tolling, law enforcement and parking/access control. Q-Free offers solutions and products based on state of the art technology, and is the leading supplier within DSRC (tag) - and ALPR (Automatic License Plate Registration) and GNSS (Global Navigation Satellite System) based solutions, with deliveries in Europe, Asia-Pacific, Middle East and North- and South America. The company has appr. 300 employees in 11 locations and representatives in 7 other countries. Headquarter is based in Trondheim, Norway. Q-Free is listed on the Oslo Stock Exchange with the ticker QFR. http://www.q-free.com

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