Q-FREE ASA - RESULT FOR THE THIRD QUARTER 2011
“We have achieved an acceptable profitability and we leave the quarter with a strong cash position. Order intake somewhat soft, but it is important to emphasize that we during 2011 have built up an opportunity pipeline which will facilitate the company to take the next step with respect to position in the industry, revenues and profitability”, says CEO Dr. Øyvind Isaksen.
HIGHLIGHTS
- Revenues 144.1 MNOK,112 % increase compared to Q3-10
- EBITDA 22.9 MNOK, 15.9 % margin
- Operating profit (EBIT) 12.2 MNOK, 8.4% margin
- Pretax profit 9.5 MNOK, 6.6 % margin
- Order intake 78 MNOK, - main contributors:
- Tag order worth 34 MNOK from CGMP in Brazil
- Service and maintenance contract worth 17 MNOK from Transportstyrelsen in Sweden
- Order backlog 433 MNOK
- Cash position strengthened, cash funds 253 MNOK at the end of Q3-11.
“We have over the last years built an impressive portfolio, established key references and not at least built an international and professional organisation. Q-Free is well positioned for long term profitable growth”, Isaksen concludes.
Enclosures: Quarterly report and presentation
Trondheim, 27. October 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), ALPR(Automatic License Plate Registration) and GNSS (Global Navigation Satellite System) based solutions, with deliveries in Europe, Africa, Asia-Pacific, Middle East and North- and South America. The company has approximately 270 employees and is represented in 17 countries. Headquarter is based in Trondheim, Norway. Q-Free is listed on the Oslo Stock Exchange with the ticker QFR. www.q-free.com (http://www.q-free.com)
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