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Earnings reports

Tandberg Reports Q3

NEW YORK -- TANDBERG® (OSLO:TAA.OL), today announced financial results for the third quarter ended September 30, 2006.

Overview of 3Q06:
  • Record revenue of 109.6 MUSD with volume of 10,102 units
  • Pre-tax profit of 26.3 MUSD
  • Solid cash flow from operations of 38.8 MUSD
  • Announcement of PC video
  • Operating expenses reflect continued investment in product development
FINANCIALS

Third quarter revenues were record high at 109.6 MUSD compared with 91.2 MUSD in the same quarter last year. 3Q06 gross margin was 67.9%, compared with 67.5% in the same quarter last year. Selling, general & administrative (SG&A) expenses for 3Q06 totaled 45.5 MUSD, compared with 35.6 MUSD in the same quarter last year. Operating profit was 24.9 MUSD compared with 23.6 MUSD in the same quarter last year. Earnings per share (after tax) were 0.164 USD in 3Q06 compared with 0.144 USD in the same quarter last year.

The Company generated cash flow from operations of 38.8 MUSD, which after a net cash outflow from investments of 6.2 MUSD and repurchase of shares of 65.1 MUSD, gave a total cash outflow of 32.6 MUSD. As of September 30, the Company had a cash balance of 146.1 MUSD and an equity ratio of 65.5%.

Tandberg ASA (OSE: TAA)

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