Myriad Group Announces Preliminary Q1 2010 Results
28 April 2010
- Revenues USD 28.5 million
- Gross profit USD 19.1 million with gross margin
of 67%
- EBITDA USD 4.5 million
DUEBENDORF-ZURICH,
Switzerland – 28 April 2010 – In addition to its Fiscal Year 2009 results, Myriad
Group AG (SIX: MYRN), a global leader in mobile technology with software in over
2 billion phones, today also reported preliminary key figures for the first
quarter 2010.
Revenue in Q1 2010 reached USD 28.5
million compared to Q1 2009 pro forma1 revenue of USD 32.2 million.
The comparative revenue in Q1 2009 included one time licenses of USD 1.8 million.
Gross Profit amounted to USD 19.1
million for Q1 2010, compared to USD 20.4 million in Q1 2009. A reduction in
the level of European sub contract labour led to an improvement in the gross
margin to 67% in Q1 2010 from 63% for the previous year period.
The underlying operating profit EBITDA was USD
4.5 million for the first quarter of 2010, reflecting EBITDA margin of 16%. In
Q1 2009, the comparable EBITDA before restructuring charges amounted to USD 7.7
million and margin of 24%. The difference is mainly due to the impact of lower
licenses revenues.
“We have had two significant wins so far in 2010, the
successful completion of an important deal with Telefónica for the Latin
American markets that was jointly announced this week. The deal, in which
Myriad is the exclusive provider of social networking services to Telefónica’s
mobile subscribers across 12 countries and covering 80 million subscribers, has
the potential to generate USD 80-100 million of revenue over a five year
period. Secondly a USD 5 million contract to supply our Java solutions for use
in Blueray players” said Simon Wilkinson, CEO of Myriad. “Part of Myriad’s
expected growth in 2012 and the further years will be based on such agreements
and the delivery of new products and customer services.”
(1) Comparative pro forma results for Q1
2009 include Purple Labs contribution for the respective period
Myriad will announce further detailed information on its
Q1 2010 results via a telephone conference on 20 May 2010.
Investor
Calendar
Q1 2010
Results 20
May 2010
Annual
General Meeting 25
May 2010
Contacts
James Bodha Richard
Hornby
Chief Financial Officer Investor
Relations
Tel: +41 44 823 8900 +41
44 823 8900
Email: investor_relations@myriadgroup.com
Key figures Q1 2010
|
in USD million
|
|
Q1
2009 pro forma1
unaudited
|
Q1
2010
unaudited
|
|
Revenue
|
|
32.2
|
28.5
|
|
Gross Profit
|
|
20.4
|
19.1
|
|
Gross margin
|
|
63%
|
67%
|
|
EBITDA before restructuring charges
|
|
7.7
|
4.5
|
|
EBITDA margin (before restructuring charges)
|
24%
|
16%
|
|
EBITDA (incl. restructuring charges)
|
5.8
|
4.5
|
|
EBITDA margin
|
18%
|
16%
|
Note:
(1) Pro forma reflects the results in 2009 including Purple Labs contribution
for the comparative period.
About Myriad
Myriad Group AG is a global leader in mobile technology and has shipped over
3.2 billion software applications in more than 2 billion mobile phones. Its comprehensive
portfolio includes browsers, messaging, Java, social networking, user
interfaces and middleware for all types of mobile phones, from ultra-low cost
handsets to advanced smartphones.
The company provides both individual components and complete solutions,
which enable handset manufacturers and operators to deliver amazing experiences
on mobile phones. Myriad also develops USSD-based customer self-care platforms
that deliver over 10 billion messages a year to 220 million mobile users across
more than 30 mobile operators worldwide.
Myriad was created from the combination of industry-leading companies,
Esmertec and Purple Labs. It operates worldwide, with offices in Switzerland,
France, UK, USA, Mexico, China, South Korea, Taiwan, Japan and Australia.
Headquartered in Dübendorf-Zürich Switzerland, Myriad is listed on the SIX
Swiss Exchange (SIX Symbol: MYRN).
For more
information, visit www.myriadgroup.com.