Trolltech announced the financial results for Q2 2007. Trolltech ASA generated revenues of NOK 51.8 million in the second quarter 2007, an increase of 24 percent from the second quarter 2006.
For the first half of 2007, revenues amounted to NOK 99.9 million, which was an increase of 27 percent compared with the first half of 2006.
The growth is primarily driven by the development tools for Qt and Qtopia. Trolltech expects to see continued stable growth for development tools. Revenues from Qtopia is to a large degree dependent on run-time fees from sales of end-user products. Growth in Qtopia run-time licences has been lower than expected, however, there are positive signals from Motorola set to increase Qtopia growth.
Operating costs were NOK 53.8 million in the second quarter of 2007, a decline of NOK 5.5 million from the previous quarter. Trolltech has 232 employees, and there has been no net change in the number of employees during the first half of 2007. The company sees a substantial increase in capacity from the recruitments in 2006, and expects to invest in 20 percent new employees during 2007.
EBITDA was NOK -2.1 million in the second quarter of 2007, which is an improvement of NOK 7.6 million from the same quarter last year.
Market update
The markets for the company’s solutions continue to develop positively. The growth in the customer base continued in the second quarter of 2007 and Trolltech now has more than 5,000 customers.
- Trolltech has a unique position within mobile Linux, and our developer
tools business for Qt and Qtopia is continuing its healthy and steady growth, says
co-CEO Eirik Chambe-Eng.
- We definitely have a solid base for the future, he concludes.
Qt
Qt is a development tool which enables programmers to deploy their applications on all major desktop platforms based on a single source code base. The primary marked for Qt is software developers working with object-oriented high-performance applications.
During the third quarter, Trolltech signed a new contract with Lucasfilm Entertainment Co. Ltd. The agreement covers the use of Qt by Industrial Light & Magic, LucasArts, Skywalker Sound and Lucasfilm Animation. Trolltech has taken a leading position in the entertainment industry.
Qtopia
Qtopia is the leading application platform for embedded Linux-powered devices and mobile phones.
In June Trolltech signed a purchase agreement to acquire the assets of FONAV Inc, which is Trolltech’s first acquisition, further strengthening Trolltech’s position in the VoIP market.-Trolltech
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