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ADB Group reports a mid-period business update Donnerstag, 25. Oktober 2012 - 05:56

ADB Group reports a mid-period business update
  • Business developing according to expectations
  • Software products scooping industry nominations and awards
  • Hard disk impact contained, but will continue in 2013
  • Process streamlining continues

Geneva – 25 October 2012

Advanced Digital Broadcast Holdings SA (SIX: ADBN) gave today an update on the development of its business.

During the third quarter of 2012, the Group’s business developed largely according to the management’s plans. The Group notes that its year sales forecast is now fully covered by the customer orders and/or long-term contracts. However, there is some uncertainty in the foreign exchange development together with clarification on certain delivery schedules, and hence the Group does not give specific revenue forecast figure at this point. The hard disk price impact on the sales is estimated to be around US$ 11 million, pushing up the revenue figure of the year by this amount. The net cost to the Group is expected to be limited to about US$ 2 million. The Group notes also that the impact of the hard disk prices will affect the 2013 results to certain extent.

The reorganization and integration process is nearing its completion. The Group maintains its expectations for these overall costs to remain approximately US$ 3 million, out of which US$ 2.7 million occurred during the first half of the year. The additional one-customer specific product service work costs are expected to be around US$ 3 million, and the work is carried out as per plan. The Group is still streamlining its overhead base as it has been doing throughout the year, and plans to end the year profitably.

The business development in the United States is progressing according to plan, and the Group is satisfied with the results of these efforts. It needs to be noted that this business still represents relatively minor part of the Group revenue, but has a large strategic value. In addition, the Group has been working with its existing customers to help them develop their services further, and has remained the supplier of choice for new technology innovations.

Throughout the third quarter, the Group has received several industry recognitions. The Epicentro software platform won the “Broadband Home” category, and received the Broadband Infovision Award in Amsterdam. Epicentro is a software suite designed to enable Connected Home applications using the Home Gateway as a multi-service hub, and represents the development of new business models around the Broadband Home. Furthermore, Epicentro and the Group’s IPTV set-top-box (ADB-2721W) have been shortlisted as finalists in the TelcoTV Vision Awards, in the categories “Best Innovation in Middleware” and “Best Innovation in Customer Premises Equipment” in Las Vegas. These nominations and awards strengthen the Group’s belief that focusing on multi-service, multi-screen solutions is an important part of the strategy and will continue to ride the technology trends.

The management of ADB Group will hold a conference call to comment on this press release today at15.00 CET. Participants shall dial the number +41 (0) 44 580 7718 with pass code “ADB”.

This press release and further information on ADB Group can be found on the Group’s the Group website at www.adbholdings.com

For further information please contact:

Tina Nyfors

Investor Relations /Group Communication

Tel:     +41 22 592 8433

Fax:    +41 22 592 8402

t.nyfors@adbglobal.com

-end-

About ADB Group (SIX: ADBN)

 

ADB Group (www.adbholdings.com) was founded in 1995 and is a leading developer and supplier of solutions required to view and interact with digital TV broadcast through cable, satellite, terrestrial and IP networks, as well as products and systems for broadband data communication business. The Group today sells a broad range of products and services, including connected home multimedia solutions, software, consumer premises devices, consulting and engineering services and after sales services for digital pay-TV broadcast operators and broadband network operators. The Group’s sales are conducted through the brand of ADB (www.adbglobal.com), and the trademarks of i-Can, Epicentro and Carbo.

This press release contains forward-looking statements. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements due to various factors, among which:

  • future developments of the world digital TV and broadband markets, in particular the future demand for digital TV and broadband products in the key markets and from key customers served by our Group;
  • pricing pressures, competitive market situation;
  • our and the industry’s capability to successfully and timely innovate and develop challenging technology, and our capability to hire and retain high-level employees;
  • changes in the exchange rates between the US$ and the main other operating currencies of the Group, including the Euro, Swiss Franc and the Polish Zloty;
  • our ability in an intensive competitive environment, to continue securing orders from existing or new customers and to achieve our pricing expectations for products for which we have or are currently investing into development;
  • the ability of our suppliers to meet our demands for supplies, qualitatively or quantitatively, and to offer competitive pricing;
  • our gross margin could vary significantly from expectations based on changes in revenue levels, product mix and pricing, changes in unit costs, and the timing and execution of shipments ramp-ups;
  • changes in the economic, tax, social or political environment, including import and other duties, military conflict, terrorist activities, as well as natural events such as severe weather, health risks, epidemics or earthquakes in the countries in which we, our key customers and our suppliers operate;
  • our ability to obtain required licenses on third-party intellectual property on reasonable terms and conditions, the impact of potential claims by third parties involving intellectual property rights relating to our business, and the outcome of potential related litigations;
  • the results of actions by our competitors, including new product offerings and our ability to react thereto.

Advanced Digital Broadcast Holdings SA undertakes no obligation to publicly update or revise any forward-looking statements. Advanced Digital Broadcast Holdings SA reserves the right to amend the information at any time without prior notice.

The information contained in this press release may not be considered as being a substitute for economic, legal, tax or other advice and you are cautioned to base investment decisions or other decisions on the content of this release. You are recommended to consult your investment advisers or other advisers prior to making any decision.

This press release is not an offer of securities for sale or a solicitation to invest in Advanced Digital Broadcast Holdings SA securities. In particular, it is not an offer of securities for sale in the United States of America, its territories and possessions. Securities may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Advanced Digital Broadcast Holdings SA does not intend to register its securities in the United States of America.