Q-FREE ASA - RESULT FOR THIRD QUARTER 2010
”The result for the quarter is highly influenced by the scope changes for the Slovakia project, and as such this quarter is highly extraordinary”, says CEO Øyvind Isaksen.
Highlights:
· Revenues 67.8 MNOK.
· Operating profit (EBIT) -115.0 MNOK, -169.4 % margin
· Pretax profit -110.2 MNOK, -162.4 % margin
· Cash flow position weakened, but expected to improve in the coming quarters
· Order intake 96 MNOK
· Order backlog 467 MNOK
Isaksen comments further,” The important thing now is to focus on all the exiting opportunities ahead of us. Taken into consideration the global market trends and Q-Free position, I am convinced that the company will experience a long term positive development.”
Enclosures: Quarterly report and presentation
Trondheim, 20 October 2010
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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