Q-FREE ASA - SECOND QUARTER RESULT 2010
“Focus this year is to position the company for several bigger infrastructure projects, - many of them to be concluded in 2011 and 2012. 2010 will be a transition year and will not represent a financial improvement due to lack of infrastructure project awards in 2010”, says CEO Dr. Oyvind Isaksen.
Highlights from the quarter;
- Revenues of 169.6 MNOK, highest product revenue since 2005
- Operating profit of 8.8 MNOK, 5.2 % margin
- Profit before tax amounted to 7.6 MNOK, 4.5 % margin
- Cash position weakened, but expected to improve in the coming quarters
- Order intake of 100 MNOK
- Order backlog of 609 MNOK
Isaksen further comments; “It is motivating to observe that the global Intelligent Transport System market is showing clear growth trends and that Q-Free’s positioning enables long term growth of the company.”
Enclosures: Quarterly report and presentation
Trondheim 18. August 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 12 locations and representatives in 6 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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