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Option announces H1 and Q2 results for 2007

Deals

Option N.V., the wireless technology company, today announced its results for the H1 of the year and the Q2 ended June 30, 2007.

The most recent annual financial statements include for June 30, 2007 the consolidation of Option Wireless Germany GmbH (Kamp-Lintfort). Jan Callewaert, Founder and CEO of Option, said: „Q2 revenues of €82 million came in at the top end of the revised guidance issued on July 5, 2007. Up 18.8% compared with Q1 2007, Q2 revenues were in-line with our record performance of €82.5 million in Q2 2006 and represent an important milestone in returning to sustained growth after our disappointing performance in the H2 of 2006.

More importantly, we have now recorded two consecutive quarters with nearly 15% EBITDA growth for the first time since we switched to IFRS accounting standards in 2005. This growth in EBITDA occurred while growing our R&D expenses by 30% from the H2 of 2006 which positions us well for necessary new product developments in 2008. During the quarter, growing demand for the

GlobeTrotter Express 7.2 HSDPA and GlobeSurfer iCON 7.2 confirm that Option is well placed to benefit from the market moving towards the ExpressCard form-factor and the increasing adoption of wireless USB modems as alternatives to DSL. The planning to create a more flexible company capable of responding more quickly to the rapidly changing and multi-dimensional wireless broadband market is making good progress.

The planned reorganization will provide sharper focus for our sales and marketing and establish a new industry benchmark in supply chain management. These changes will create a solid foundation for a new growth phase. We remain comfortable with our revised full year revenue guidance of €320-340 million through sequential quarterly growth in the H2 of the year.” (cnw.ca)

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