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TANDBERG reports strong demand for videconferencing with unit sales in Q3 2007 up 52% on the Q3 2006 level; TANDBERG has invested aggressively to capture the converged IP communication opportunity

October 18, 2007 | Chris Payatagool

image001.jpg15 October 2007. TANDBERG has announced excellent financial results for the third quarter ended September 30, 2007. Revenue of $165.3 million in Q3 2007 with 109.6 MUSD in the same quarter last year. Sales of 15,398 units compared with 10,102 units in the same quarter last year, a 52.3% increase.

Operating profit was $38.7 million in Q3 2007 and pre-tax profit was $33.0 million. Cash flow from operations was $53.8 million. The Codian acquisition was closed during Q3 and will have a financial impact in Q4 2007.

Reviewing Q3 2007 results, Fredrik Halvorsen, Chief Executive Officer, stated, “Video is becoming an integral component of a total IP solution. TANDBERG’s healthy topline growth in the third quarter reflects this industry trend. The Company executed solidly, strengthened by continued investment in sales and R&D.��?

To pursue a leadership role in the larger IP communications market, the Company acquired Codian, an award-winning infrastructure provider. The acquisition provides additional resources for accelerating technology innovation. The integration is well underway and well received by customers, partners, and employees of both companies.

Revenue in the Americas Theatre during Q3 2007 totaled $92.4 million compared with $64.4 in the same quarter last year. The Americas results reflect a strong finish to the Federal buying season, as well as a high-performing and customer-focused sales team. In addition, customers in the Theatre are embracing the complete high-definition (HD) end-to-end solution offered by TANDBERG. The Americas Theatre will focus on the network business. Most importantly, the integration of Codian will include cross-training of sales teams and channel partners.

Revenue in EMEA during Q3 2007 totaled $54.0 million, compared with $35.8 million in the same quarter last year. High performing areas included Spain , the Netherlands , and Northern Europe . The EMEA team will focus on scaling its sales and channel teams, as well as selective geographic expansion. As in the Americas Theatre, integration of Codian is a priority.

Revenue in APAC during Q3 2007 totaled $18.9 million, compared with $9.5 million in the same quarter last year. In South Asia, Singapore and Australia continue to perform strongly.

TANDBERG addressed areas of opportunity in the core business in 2007: TANDBERG has been expanding at the high end of the market with telepresence. In the third quarter, HP announced the HP Halo Gateway, based on TANDBERG technology. The Gateway links HP telepresence studios with standards-based videoconferencing systems. In addition, personal telepresence systems such as the 1700 MXP are gaining importance in this market. HP and TANDBERG are committed to an ongoing partnership.

The TANDBERG Video Communication Server (VCS) was launched in 3Q as a key part of the Company’s SIP strategy. The VCS promotes personalized video with the FindMe feature, which allows users to set dialing destinations for incoming calls. Calls are completed every time, reaching a person instead of a device.

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