Myriad Group expects revenues of $35 million in H1 2011

 

Myriad Group AG, a mobile technology having shipped over
3.8 billion software applications on more than 2.2 billion phones, announced
that it expects revenue of $35 million for its first half 2011 results.

 

Following the MobiWire (formerly Sagem Wireless) contract
termination in September 2010 and MobiWire subsequently going into
administration in May 2011, the income statement of Myriad Group AG will
contain certain base effects when comparing fiscal year 2011/2010 results.

 

This revenue expectation represents year-on-year growth
of 7 percent when making a direct comparison to the First Half 2010 non-Sagem
related business that totalled USD 32.7 million, and reflects solid underlying
core revenues.

 

On a level of EBITDA pre-restructuring costs, Myriad Group estimates a profit of
$7-8 million reflecting steps taken to significantly reduce the cost base, and
on a level of EBIT estimates a loss of $3-4 million for the first half of 2011.

 

The cash position was $16.4 million as at 30 June 2011.
Myriad will publish the detailed financial statements and its Half Year 2011
Report on 7 September 2011.

 

By Telecomlead.com Team
[email protected]

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