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2009-01-05 15:10:00 CET 2009-01-05 15:10:01 CET REGULATED INFORMATION Digia Oyj - Company AnnouncementDIGIA INCREASES THE PROVISION FOR CREDIT LOSS DUE TO BANKRUPTCY OF UIQ TECHNOLOGY ABDigia Plc Stock Exchange Release 5 January 2009 at 4:10 pm DIGIA INCREASES THE PROVISION FOR CREDIT LOSS DUE TO BANKRUPTCY OF UIQ TECHNOLOGY AB Digia's smartphone business customer in Sweden, UIQ Technology AB, has filed for bankruptcy on December 29, 2008. Digia has sales receivables from UIQ about EUR 1.8 million, the payment of which has become uncertain due to UIQ's bankruptcy. Digia has had previously a provision for UIQ's sales receivables but due to bankruptcy the provision is increased with EUR 1.0 million and the provision now covers the total sales receivables from UIQ. The provision for credit loss is booked in Digia's fourth quarter financial statements. The collection of receivables will be continued actively. Despite the provision for credit loss Digia is expected to achieve its full year target in 2008 both in terms of revenues and profitability. The company estimates the revenues to exceed EUR 120 million and the profitability (EBIT-%) to be around 10 per cent. Digia will publish its financial statements of February 3, 2009. Digia Plc Board of directors FOR FURTHER INFORMATION, PLEASE CONTACT President and CEO Juha Varelius, gsm +358 400 855849, email: juha.varelius@digia.com Distribution: NASDAQ OMX Helsinki Key media |
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