OPERA SOFTWARE ANNOUNCES THIRD QUARTER RESULTS
(Cision Via Acquire Media NewsEdge) Record revenue, profit and cash flow. Revenue and profit guidance raised for FY2013 Oslo, Norway – October 25, 2013 – Opera Software (OSEBX: OPERA) today reported financial results for the third quarter, which ended September 30, 2013.
3Q 2013 financial highlights include:
· § Revenues of MUSD 75.5, up 34% versus 3Q12 · § EBIT of MUSD 15.6, up 14% versus 3Q12 · § Adjusted EBITDA* of MUSD 22.5, up 32% versus 3Q12 · § Operating Cash Flow of MUSD 20.1 versus MUSD 5.1 in 3Q12 · § Free Cash Flow of MUSD 15.8 versus MUSD 4.3 in 3Q12
Revenue was MUSD 75.5 in 3Q13 compared to MUSD 56.4 in 3Q12, an increase of 34%.
EBIT was MUSD 15.6 in 3Q13 compared to MUSD 13.7 in 3Q12. EBITDA was MUSD 21.4 in 3Q13 compared with MUSD 16.2 in 3Q12. EBITDA, excluding stock options costs, was MUSD 22.5 compared with MUSD 17.0 in 3Q12.
3Q13 IFRS Net Income was MUSD 1.3 compared to MUSD 6.5 in 3Q12. Non -IFRS 3Q13 Net Income was MUSD 14.0 compared to MUSD 10.0 in 3Q12. The Company's non-IFRS results in 3Q13 exclude the effects of MUSD 1.0 in non-cash stock-based compensation, MUSD 8.3 related to changes in contingent consideration, MUSD 2.1 related to depreciation of intangible assets and MUSD 2.0 related to Opera’s Joint Venture in China.
Profit for the period was MUSD 1.3 in 3Q13 compared to MUSD 6.5 in 3Q12. EPS and fully diluted EPS were USD 0.011 and USD 0.010, respectively, in 3Q13, compared to USD 0.055 and USD 0.054, respectively, in 3Q12. Non -IFRS EPS and fully diluted Non-IFRS EPS were USD 0.114 and USD 0.111, respectively, in 3Q13, compared to USD 0.084 and USD 0.082, respectively, in 3Q12.
The Company’s net cash flow from operating activities was MUSD 20.1 in 3Q13 compared to MUSD 5.1 in 3Q12. 3Q13 cash flow from operating activities was impacted positively by strong profitability and changes in working capital. Opera’s cash balance was impacted positively by net cash flow from operating activities and negatively by investments in research and development and capital expenditures. Capital expenditures, which are primarily related to Opera’s hosting operations, were MUSD 4.4 in 3Q13 versus MUSD 0.7 in 3Q12.
· § Mobile Operators
Revenues of MUSD 17.1 in 3Q13, up 64% versus 3Q12
Operator cloud based license/data revenue of MUSD 16.1 in 3Q13 up 64% versus 3Q12
Operator active users reached 86.2 million by the end of 3Q13, up 107% versus the end of 3Q12
Sun Cellular (Philippines) launched its Browse On Opera service with Opera Mini
· § Mobile Consumers – Opera Owned and Operated Properties
Revenues of MUSD 7.6 in 3Q13, down 11% versus 3Q12
Total Opera mobile consumer users reached 262 million at the end of 3Q13, up 26% versus the end of 3Q12
Opera launched Coast by Opera, a new browser for iPad
Android users reached 75.3 million at the end of 3Q13, up 131% versus the end of 3Q12
· § Mobile Publishers & Advertisers – Opera Publisher Partner Members
Revenues of MUSD 29.6 in 3Q13, up 110% versus 3Q12
Total mobile advertising impressions managed was 172 billion in 3Q13, up 44% compared to 3Q12
· § Desktop Consumers
Revenues of MUSD 13.8 in 3Q13, down 25% versus 3Q12
Desktop users reached 51 million by the end of 3Q13, down 7% versus the end of 3Q12
· § Device OEMs
Revenues of MUSD 6.8 in 3Q13, up 61% versus 3Q12
4Q FY13 Guidance:
Revenue: Revenue for the company’s fourth fiscal quarter is projected to be in the range of MUSD 83.5 to MUSD 87.5.
Adj EBITDA*: Adjusted EBITDA for the company’s fourth fiscal quarter is projected to be in the range of MUSD 21.5 to MUSD 24.5
EBIT**: EBIT for the company’s fourth fiscal quarter is projected to be in the range of MUSD 16 to MUSD 19.
Revenue: Revenue for the company’s full fiscal year 2013 is projected to be in the range of MUSD 294 to MUSD 298 (up from previous guidance of MUSD 290 to MUSD 298).
Adj EBITDA*: Adjusted EBITDA for the company’s full fiscal year 2013 is projected to be in the range of MUSD 84 to MUSD 87 (up from previous guidance of MUSD 81 to MUSD 87).
EBIT**: EBIT for company’s full fiscal year 2013 is projected to be in the range of MUSD 61 to MUSD 64 (up from previous guidance of MUSD 58 to MUSD 64).
Please find the third quarter report (3Q13.pdf), third quarter press release (3Q13_Press_release.pdf) and third quarter presentation (3Q13_presentation.pdf) attached.
Erik Harrell, CFO/CSO
Tel: +47 2369 2400
Petter Lade, Investor Relations
Tel: +47 2369 2400
About Opera Software ASA
Opera products enable more than 350 million internet consumers worldwide to discover and connect with the content and services that matter most to them, no matter what device, network or location. In turn, we help advertisers reach the audiences that build value for their businesses. Opera also delivers products and services to more than 130 mobile operators around the world, enabling them to provide a faster, more economical and better network experience to their subscribers. From family photos and funny videos to business ideas that change the world economy, the internet has always been about discovery. Whether you are a consumer getting online for the first time, or a multinational corporation trying to reach the right audience, Opera can help you discover more online. Opera Software ASA is listed on the Oslo Stock Exchange under the ticker symbol OPERA. ‘Opera’, ‘Opera Software’, ‘Opera Mini’ and the ‘O’ logo are trademarks of Opera Software ASA. All other trademarks are the property of their respective owners. Learn more about Opera at www.opera.com.
This Press Release contains forward-looking statements. These statements include, among other things, statements regarding future operations and business strategies and future financial condition and prospects. These forward-looking statements are subject to certain risks and uncertainties that could cause our actual results to differ materially from those reflected in the forward-looking statements. Factors that could cause or contribute to such differences are covered in the Opera Software FY 2012 Annual Report under the heading "Risk Factors." We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward -looking statements.
*“Adjusted EBITDA” refers to EBITDA excluding stock option costs, excluding extraordinary/one-time costs and acquisition costs.
**Earnings before interest and taxes, excluding extraordinary/one-time costs and acquisition costs.
This information was brought to you by Cision http://news.cision.comhttp://news.cision.com/opera-software-asa/r/opera-software-announces-third-quarter-results,c9487547The following files are available for download:http://mb.cision.com/Public/1969/9487547/ad00f16652312ea5.pdf 3Q13 Press releasehttp://mb.cision.com/Public/1969/9487547/b88ec7c03b4f3864.pdf 3Q13http://mb.cision.com/Public/1969/9487547/8f21b517121afdf6.pdf 3Q13 Presentation
(c) 2013 Cision. All Rights Reserved.
[ Back To Technology News's Homepage ]