Myriad Group AG (SIX: MYRN), a global leader in mobile technology with software in over 2 billion phones, today reported unaudited revenue of USD 31.3 million for the third quarter of 2009. Underlying operating profit (EBITDA) reached USD 5.7 million, or 18.1% of revenue, in the period.
“Myriad’s Q3 results confirm again that our increased scale and efficiencies can deliver impressive financial performance,” said Simon Wilkinson, CEO of Myriad. “With our strong underlying operating profit and a cash position of more than USD 40 million, we now have a solid foundation to pursue additional growth opportunities.”
Revenue and gross margin driven by Device Solutions segment
The Device Solutions segment – which provides software and engineering services to leading manufacturers of mobile phones and other devices – reported revenue of USD 28.7 million for 2009 Q3, compared to USD 6.1 million in 2008 Q3. Gross profit of the Device Solutions segment reached USD 21.6 million, 75.2% of the segment revenues.
The signing of new contracts with top mobile phone manufacturers demonstrated that the underlying demand for Myriad device software and services continues to be robust.
The Mobile Services Platforms segment – which provides self-care services and other solutions for mobile network operators – reported revenue of USD 2.6 million in 2009 Q3, compared to USD 2.1 million in 2008 Q3. Gross profit of the Mobile Services Platforms segment was USD 1.4 million, 54.5% of the segment revenues.
Underlying operating profit (EBITDA) was USD 5.7 million for the third quarter of 2009, delivering an underlying operating profit margin of 18.1%. In 2008 Q3, EBITDA was USD -1.2 million, resulting in a -14.9% profit margin.
Cash & cash equivalents increased by USD 19.5 million during the third quarter of 2009, reaching USD 41.2 million as of 30 September 2009. The increase reflected improved collection terms from customers, and rigorous cost controls.
Information on Myriad’s Media and Analyst Briefing
Today at 9:30 am CET, a conference call for media and analysts will be hosted by Simon Wilkinson, CEO, and James Bodha, CFO.
Dialing information:
- Swiss Local: 0434569986
- Swiss Toll Free: 0800 800 038
- UK Local: 0203 003 2666
- UK Toll Free: 0808 109 0700
- France Local: 01703 77 166
- France Toll Free: 0805 630061
Webcast registration:
http://www.myriadgroup.com/Investors/Investor-Calendar.aspx