Net Elec Posts Q4

SANDERFJORD, Norway -- Network Electronics ASA, the leading international manufacturer of the extremely popular compact and modular VikinX® routers, and flashlink® innovative optical transport and signal processing products, has reported a record breaking fourth quarter with respect to both sales and profit. Oddbjørn Bergem, CEO of the Norwegian based organization, made the announcement today from headquarters in Sandefjord.

The Company’s sales totaled 33.7 MNOK (5.1 M USD / 4.2 M EUR) for Q4, up 18% from the same time period in 2004. Profit before tax also set a new record high of 3.9 MNOK (.6M USD / .5M EUR).

“Network Electronics’ unprecedented performance is confirmation of our exceptional strength in the global marketplace,” says Bergem.

The result in Q4 was built on continuous growth in all worldwide markets and underscored by the Company’s recent designation as ISO certified. The certificate, a NS-EN ISO 9001:2000 issued by Nemko Certification, attests to a company’s ability to develop and maintain systems to meet customer’s expectations by operating responsibly, providing quality products and services, continually improving, involving suppliers, and increasing its position in the market.

“Our appreciation goes to our talented engineering staff that designs systems to meet our customers needs as well as the highly professional and dedicated sales partners worldwide who support Network’s broad-based international market,” Bergem added. Network currently operates 20 offices worldwide and is represented in more than 90 countries. Network is now included on ”bidders lists” worldwide.

Network Electronics ASA (Oslo: NETW)