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 `
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.