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DGAP-News: Vtion Wireless Technology AG / Key word(s): Quarter Results Vtion Wireless Technology confirms Outlook

11.11.2013 / 08:58

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Vtion Wireless Technology confirms Outlook

Frankfurt, 11 November 2013. Vtion Wireless Technology AG, one of the leading suppliers of wireless data solutions for mobile computing in China, announces its preliminary results for the first nine months of 2013. Revenues reached 45.3 million Euros in this reporting period, with an EBIT margin of 8%. Based on the company's current expectations, it remains on pace to reach the bottom end of its full year guidance.

Preliminary financial results of the first nine months of 2013

Revenues decreased by 23%, from 58.73 million Euros between January and September 2012 down to 45.26 million Euros in the first nine months 2013. Vtion's EBIT margin increased from 7% in Q2 2013 to 10% in the third Quarter on a revenues-basis of 17.5 million Euros.

Chen Guoping, CEO of Vtion Wireless Technology commentates: 'At present, our wireless data terminals business remains a reliable driver of our financial results. I am pleased that we have remained profitable in this core business segment. In the future, we will seek to provide the comprehensive computing solutions customized for certain industries as well as expand our wireless data terminal offerings as 4G technology is introduced to the Chinese market.'

Guidance for the financial year 2013 confirmed

Despite challenging market conditions the company's management team still projects the company will reach its guidance of revenues between 60 and 70 million Euros and an EBIT margin between 8 to 10%. The company expects steady revenues in the fourth quarter, despite the fact that the quarter is typically weaker than the third, due to reduced procurement on the part of the telecom operators heading into year-end.

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PRESS RELEASE: Vtion Wireless Technology confirms Outlook