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/
Find out more:
With two decades of history, Opera has grown up, side-by-side, with the internet. From browsers, data managing and security apps, to news apps, we connect more than 350 million users and industry partners to the internet, giving more experiences, more data, more money saved, more ideas, more control, more content, and more of what they like. Opera AS is a privately held company and is headquartered in Oslo, Norway. Follow our news at http://www.opera.com/blogs/news/.
Opera is a trademark of Opera Software AS.