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Earnings reports

Option Reports Q3

LEUVEN, Belgium -- Option N.V. (EURONEXT Brussels: OPTI; OTC: OPNVY), the wireless technology company, announced today its results for the third quarter and first nine month period ended September 30th, 2006. The financial information reported in this release is presented in Euro and has been prepared in accordance with the recognition and measurement criteria of IFRS as adopted by the European Union (IFRSs).

The accounting policies and methods of computation followed in the attached financial statements are the same as those followed in the most recent annual financial statements, including for the first time in the consolidation the figures of the new established subsidiary Option Wireless KK in Japan.

Highlights of the third quarter and year to date included:
  • Total revenues for the third quarter of fiscal year 2006 increased by 35.4% to EUR 75.7 million compared with the EUR 55.9 million in the third quarter of 2005.
  • Gross margin in Q3 2006 was 34.6% on total revenues, compared with gross margin of 41.3% of Q3 2005. Excluding one-time events of EUR 2.3 million (i.e. 1.7 % of the 9 month cost of goods sold), primarily related to issues from an upgrade to a new SAP platform, the gross margin was in line with our guidance and represented 37.3% of total revenues.
  • EBIT decreased to EUR 9.9 million or 13.1% on total revenues during the third quarter of fiscal year 2006 compared with EUR 11.0 million or 19.7% of total revenues, in the corresponding period in 2005.
  • Net profit for the third quarter of fiscal year 2006 amounted to EUR 7.9 million, or EUR 0.19 per basic share and EUR 0.19 per diluted share. This compares with a net profit of EUR 8.4 million, or EUR 0.21 per basic share and EUR 0.20 per diluted share in Q3 2005.1
  • Total revenues for the first nine months of fiscal year 2006 increased by 60.7% to EUR 216.5 million compared with the EUR 134.7 million in the first three quarters of 2005.
  • Gross profit in the first nine months of 2006 amounted to EUR 83.7 million, an increase of 39.4% compared to EUR 60.1 million in the 2005 equivalent period. Gross margin in the first nine months of 2006 was 38.7% on total revenues, compared with gross margin of 44.6% of the first nine months of 2005.
  • EBIT increased to EUR 35.0 million or 16.2% on total revenues during the first nine months of fiscal year 2006 compared with EUR 26.8 million or 19.9% on total revenues, in the corresponding period in 2005, representing a growth of 30.5%.
  • Net profit for the first nine months of fiscal year 2006 was EUR 28.9 million, or EUR 0.70 per basic share and EUR 0.70 per diluted share. This compares with a net profit of EUR 19.8 million, or EUR 0.49 per basic share and EUR 0.48 per diluted share in the corresponding period of 2005, representing an increase of 46.0%1.


Option NV (Euronext: OPTI; Nasdaq Europe: OPIN)

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