Steady financial progress for Simrad Optronics

“Second quarter of 2009 is the fifth running quarter with increased revenues, and the fourth running quarter with increased or equal EBITDA, relative to the corresponding quarter previous year” according to Jon Asbjørn Bø, President and CEO of Simrad Optronics Group. Simrad Optronics ASA, the Norwegian defence products company, maintains a steady financial progress with Q2-figures on level with previous year and first half year revenues and EBITDA substantially ahead of H1-2008. Simrad Optronics revenues in the second quarter came to MNOK 159.6 – a 2% increase over Q2-2008 (Q2-2008: MNOK 156.7). The Company reports an EBITDA of MNOK 16.1 for the first quarter – slightly below Q2-2008 (Q2-2008: MNOK 16.7). For the first half year of 2009 the Group’s revenue came to MNOK 314.8 (H1-2008: MNOK 253.2) and EBITDA to MNOK 29.4 (H1-2008: MNOK 17.9). On segment level, it is first and foremost “Operations US” that contributes to the progress in revenues and EBITDA. The Group reports high level of sales activities, where continued high demands for RWS, framework agreement with the Norwegian Armed Forces and strategically important contracts related to both Electro Optical- and Vehicle System products are expected to contribute to revenues in the quarters to come. The company is in line with its 2009 priorities, which are: • Further growth in revenue – maintain margins. • Strong focus on Working Capital items, improve financial position through cash from operating activities. • Further development of the company’s subsidiaries abroad. • Strong focus on product development. Simrad Optronics experienced a steady order flow also in the second quarter, which resulted in a unchanged strong order backlog of MNOK 575, equal to Q1-2009. “Our Q2 results are demonstrating our ability to maintain revenues and margins in spite of financial crises and demanding market conditions”, concludes Mr. Bø. The presentation of Simrad Optronics’ second quarter 2009 will be held today at Felix Conference Center, Oslo, at 10:00 am. For further information, please contact: Jon Asbjørn Bø, president and 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.