Financial Result Q1 2004: Opera Reports Revenue Increase of 75%
Oslo, Norway - May 7, 2004
Opera Software ASA today announced financial results for its fiscal 2004first quarter ended March 31, 2004. For the quarter, the Company earned revenues of MNOK 21.7, up fromMNOK 12.4 in Q1 2003, a growth of 75% on the year-ago quarter. Earnings before interest and tax ("EBIT")for the quarter ended at MNOK -3.4, compared to a loss of MNOK -6.4 in the year-ago quarter.
Opera saw increase in growth on all product lines. Income from Internet devices grew from MNOK 6.9 in 1Q03 to MNOK 14.7 in 1Q04, a growth of 111%. Income from Desktop grew from MNOK 5.5 in 1Q03 to MNOK 7.0 in1Q04, a growth of 29%. Operating costs increased from MNOK 18.7 in 1Q03 to MNOK 24.7 in 1Q04, a growth of 31%.Operating costs increased from MNOK 18.8 in 1Q03 to MNOK 25.1 in 1Q04, a growth of 33.7%.
"The strong growth in revenues continued in the first quarter," says Jon S. von Tetzchner, CEO, OperaSoftware ASA. "The Company decided to increase the cost base, because of customer-driven employee growth and a substantial increase in market activity."
Opera had cash and cash equivalents of MNOK 145.9 at the end of the quarter.
The full Quarterly Report and today's presentation to investors can be found at www.opera.com/company/investors/
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Since its founding in 1996, Opera has been a pioneer in shaping the future of the internet. Providing faster and more innovative web browsers, Opera is the everyday browser of choice for more than 350 million people.
Opera Software AS is a privately held company and is headquartered in Oslo, Norway. Follow our news at http://blogs.opera.com/news/.
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