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DGAP-News: Vtion Wireless Technology AG beats Sales Guidance for Full Year 2011 Results
(DGAP Corporate News Via Acquire Media NewsEdge) DGAP-News: Vtion Wireless Technology AG / Key word(s): Preliminary
Results
Vtion Wireless Technology AG beats Sales Guidance for Full Year 2011
Results
13.02.2012 / 08:16
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- Revenue of Euro 77 millions exceeds guidance of Euro 75 million
- EBIT margin of 10.3% in line with margin guidance of 10%-12%
- Vtion expects growth to resume in 2012 with sales between Euro 80 million
and 100 million and a stable EBIT margin
Frankfurt, 13 February 2012. Vtion Wireless Technology AG, one of the
leading suppliers of wireless data solutions for mobile computing in China,
announces its preliminary results for FY 2011 and guidance for 2012. The
company achieved a revenue of Euro 77 million, in line with a guidance of
Euro 75 to Euro 100 million, and an EBIT margin of 10.3%, consistent with
the forecasted 10% to 12%. The company expects its EBIT margin to remain
stable for 2012, while revenue is expected to grow to Euro 80-100 million.
Vtion's results for 2011 were driven nearly exclusively by its wireless
data terminal segment (wireless data cards) for the first half of the year,
while it saw growing revenues from the mobile intelligent terminal (tablet
PC) segment during the second half of the year. The company's third
business segment, mobile applications (Vtion Anzhuo) did not record
significant revenues during 2011. Nevertheless, Vtion Anzhuo made important
progress in establishing its own online store as well as shop-in-shop
cooperation agreements with all three of China's major telecom operators,
China Telecom, China Unicom and China Mobile.
'I am proud of our company and employees for what we achieved during 2011,'
states Vtion CEO Guoping Chen. 'Obviously this was an extremely difficult
year, given the large changes we experienced in our core market, wireless
data cards. Despite these obstacles, we were able to reach our guidance,
due to adjustments we made in the wireless data terminal space, such as
reducing costs in that segment and new growth in our tablet PC business. I
would like to express my gratitude to our shareholders who endured this
difficult time, I am confident that through the adjustments we made in
2011, we are again headed in the right direction for 2012 and beyond,' he
concludes.
For 2012, Vtion expects flat to moderate growth in the wireless data
terminal segment and continued growth in the tablet PC space, driven both
by consumer demand and initial sales to insurance industry clients.
Furthermore, Vtion Anzhuo should make its first significant revenue
contributions over the second half of the year 2012.
Vtion will release its full 2011 annual report on Thursday, April 19.
Management will hold a conference call in the morning on that same day to
discuss the results and field questions.
About Vtion
The Vtion Group is one of the three leading suppliers of wireless data
cards and associated services for the mobile use of computers via broadband
wireless networks in the People's Republic of China. The company also
offers e-reader, 3G router and embedded module products through network
operator and retail distribution channels, as well as several online
services. For 2010, the company reached sales revenues of EUR 102 million.
Vtion Wireless Technology AG shares are being traded in the Prime Standard
on the Frankfurt Stock Exchange with the ISIN DE000CHEN993. The company's
ticker symbol is V33.
For further information, please contact:
Kirchhoff Consult AG
Dr Kay Baden, tel.: +49 40 60 91 86 0, baden@kirchhoff.de
or visit the company website at: www.vtion.de
End of Corporate News
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13.02.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Vtion Wireless Technology AG
Westhafen Plaza 1
60327 Frankfurt
Germany
Phone: +49 69 710 456 245
Fax: +49 69 710 456 248
E-mail: ir@vtion.de;verena.rauch@kirchhoff.de
Internet: www.vtion.de
ISIN: DE000CHEN993
WKN: CHEN99
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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156406 13.02.2012
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