Expecting 20% growth in 2008 compared with 2007

Simrad Optronics ASA, the Norwegian defence products company, had a 20% growth in revenue in Q2 compared with Q2 last year. The delay in deliveries has been reduced from NOK 40 mill to 10 mill after Q1. The Group maintains the guiding from Q1 in expecting a growth in revenue from 2007 to 2008 from NOK 471 mill to NOK 550 Mill and EBITDA between NOK 70 mill to 80 mill for 2008.

Simrad Optronics revenue in second quarter came in at NOK 157 million, a 20% increase over Q207. The Company reports an EBITDA of NOK 16.7 million for the second quarter (Q207 proforma: 22.3 million). Profit before taxes was NOK 1.2 million (Q207 proforma: NOK 9.1 million).


“We are satisfied with the results in Q2. We have reduced the delay in deliveries reported in Q1 with 75%, and we are still focused on improving the supplier chain.” said Simrad Optronics CEO, Jon Asbjørn Bø.

Simrad Optronics saw a steady order flow also in the second quarter, which ended with an order backlog of NOK 715 million, UP 4% from Q108.

“The US subsidiary Vingtech Corp delivered a satisfying Q2 and expects to deliver a positive EBITDA in the second half and for 2008 as a whole.” said Simrad Optronics CEO, Jon Asbjørn Bø.


For further information, please call Jon Asbjørn Bø, CEO,
Telephone: +47 9308 6932
Email: jab@simrad-optronics.no
Homepage: www.simrad-optronics.no

Simrad Optronics ASA (Oslo Stock Exchange: SIT) is a leading provider of defence products based on electro optics and advanced mechanics. The company co-operates closely with the research units of the Norwegian Armed Forces and other providers of military equipment. A number of the company's products are world leaders in their respective fields. The company is internationally oriented with sales to more than 40 countries.