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22/02-2019 08:01:20: (NAPA) Napatech A/S: Q4 2018 financial figures and 2019 outlook

(Copenhagen, 21 February 2019) Napatech A/S (“Napatech”, OSE: NAPA) refers to
the conducted private placement of NOK 50 million, the announced fully
underwritten subsequent offering of NOK 25 million and the announced board and
management offering of NOK 1.7 million. The company today provides selected
financial figures for the fourth quarter 2018 and the outlook for 2019.

Napatech had revenues in the fourth quarter 2018 of DKK 54.0 million,
representing an increase of 13% compared to the fourth quarter 2017. The EBITDA
ended at DKK -10 million, compared to negative DKK 7.2 million in same quarter
in 2017. Adjusted for special items, the EBITDA was DKK 4.1 million in the
fourth quarter 2018. 

Fourth quarter 2018 financial highlights are as follows:
(Figures in MDKK)				Q4’18	Q4’17
Revenue 					54,0	47,9
Growth YoY					13%	-48%
Gross Margin adjusted for special items		67%	54%
EBITDA adjusted for special items		4,1	-7,2
Reported Gross Margin				41%	54%
Reported EBITDA					-10,0	-7,2
Cash flow from operating activities 		18,0	8,2
Cash and cash equivalents, end of period	17,2	40,0
Available funds, incl. unused credit facilities	20,0	56,0

Special items in Q4 2018 covers an extraordinary write down of inventories of
DKK 11.1 million and DKK 2.9 million related to the divestiture of the Pandion
product line.

At the end of 2018, the total cash position of the company including unused
credit facilities was DKK 20.0 million. Following the private placement, the
announced fully underwritten subsequent offering and the announced board and
management offering the company expects to be fully funded for 2019 and to
become cash generating in 2020.

Outlook for 2019:
- Revenue in the range of DKK 150-180 million (USD 23-27,6 million)
- Gross margin around 68%
- Operating expenses in the range of DKK 115-125 million
- Investments in development projects in the range DKK 20-25 million
- Depreciation and amortization in the range of DKK 20-25 million

Operating expenses include costs for research and development, selling and
distribution expenses and administrative expenses.

Assuming performance in the middle of the guided ranges EBITDA in 2019 would be
negative DKK 7.8 million and EBIT would be negative DKK 30.3 million.

Napatech will release the fourth quarter 2018 financial results on 28 February
2019.


For additional information, please contact:

Ray Smets, Chief Executive Officer 
Phone: +45 4596 1500 
E-mail: rsm@napatech.com 


About Napatech 
Napatech helps companies to reimagine their business by bringing hyperscale
computing benefits to IT organizations of every size. We enhance open and
standard virtualized servers to boost innovation and release valuable computing
resources that improve services and increase revenue. Our reconfigurable
computing platformTM is based on a broad set of FPGA software for leading IT
compute, network and security applications that are supported on a wide array of
FPGA hardware designs. Additional information is available at www.napatech.com

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading A

Ekstern link: https://newsweb.oslobors.no/message/470323

Nyheten er levert av OBI.