10.2012 – Option (EURONEXT Brussels: OPTI; OTC: OPNVY), a global leader in wireless connectivity, security and experience, today announced that during the third quarter of 2012 the Company generated revenue of EUR 11.7 million compared to EUR 11.3 million in the third quarter of 2011. Product related revenues represented 3.3 million EUR and software & license revenues represented 8.4 million EUR of total third quarter 2012 revenues. As reported earlier, the license software agreement with Huawei runs till the end of October 2012, and as a result revenues from software & license are expected to be impacted as of next quarter.
The Company reports a positive EBITDA of EUR 3.8 million for the third quarter of 2012.
Business Update
During the quarter the Company continued to prepare the go-to-market activities for its new line of products and services focused on vertical markets such as automotive (WiFi in the car) and wireless security & surveillance. Early October the Company launched another new product, CloudGate, aimed at a third vertical market being the M2M (machine-to-machine) market.
In order to support these go-to-market activities the Company announced, at the beginning of October, that it is looking at different options to strengthen its working capital via a cash injection of a minimum amount of 5 million euro (see separate press release at www.option.com).
As part of the Company-s ongoing efforts to reduce its cost-base it was decided to close the Augsburg (Germany) facility and to move the software activities to Leuven (Belgium).
Option, the wireless technology company, is a leading innovator in the design, development and manufacture of 3G HSUPA, HSDPA, UMTS, EDGE, and WLAN technology products for wireless connectivity solutions. Option has established an impressive reputation for creating exciting products that enhance the performance and functionality of wireless communications. Option is headquartered in Leuven, Belgium. The company also has Research & Development in Belgium (Leuven), Germany (Augsburg) and an ISO 9001 production engineering and logistics facility in Ireland (Cork). Option maintains offices in Europe, US, Greater China and Japan. For more information please visit www.option.com.
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