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2011-06-29 08:30:00 CEST 2011-06-29 08:30:04 CEST REGULATED INFORMATION Ixonos - Company AnnouncementIxonos rationalises its international activities and adjusts its first-quarter operating profit forecastHelsinki, Finland, 2011-06-29 08:30 CEST (GLOBE NEWSWIRE) -- Ixonos Plc Stock Exchange Release 29 June 2011 at 09:30 IXONOS RATIONALISES ITS INTERNATIONAL ACTIVITIES AND ADJUSTS ITS FIRST-QUARTER OPERATING PROFIT FORECAST Due to changes in the company's operating environment, Ixonos Plc closes its office in Boston and focuses its U.S. sales activities on the West Coast, closer to its corporate customers developing mobile technology as well as to media and other companies providing mobile content and services. In Europe, the company closes its office in Copenhagen, concentrating its Danish operations in Aalborg, where development work based on the Android operating system is being carried out. In connection with the rationalisation of international operations and with the previously announced co-operation negotiations in Finland, the company will recognise non-recurring costs of EUR 0.4 million in the second quarter of this year. The rationalisation is expected to create yearly savings of approximately EUR 2.5 million from the third quarter of this year. In its first interim report for the financial period, the company announced that the group's turnover and operating profit for the first half-year were expected to be at the same level as in the previous year. Because of the above-mentioned non-recurring costs and the additional investments that were made in international sales during the spring, Ixonos now estimates that its operating profit for the first half-year will fall short of the operating profit for the first half of the previous year but clearly exceed EUR 1 million (2010: EUR 1.8 million). The company's forecast for the entire financial period remains unchanged: the company's turnover and operating profit for the entire year 2011 are predicted to be lower than in the previous year, but operating profit is forecast to be positive. IXONOS PLC Kari Happonen President and CEO For more information, please contact: Ixonos Plc, Kari Happonen, CEO, tel. +358 400 700 761, kari.happonen@ixonos.com Distribution: NASDAQ OMX Helsinki Main media |
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