Stock exchange release
Free for publication on February 21, 2019 at 9.30am (CET +1)
Correction to the Bittium Corporation's Financial Statement Bulletin 2018
Bittium Corporation has today published its Financial Statement Bulletin 2018. In the Finnish version of the release, in a section that describes the Outlook for 2019, there was a mistake in a year number that refers to the accumulation of the operating result during 2019. The mistake was only in the Finnish version of the release and the English version remains the same.
Outlook for 2019
The amount of wireless broadband data transfer applications is expanding and diversifying. Also the amount of data transfer and the need for secure data transfer are growing. These all create demand for Bittium's leading edge technology products and solutions.
The digitalization of healthcare and remote care are becoming more common, enhancing the healthcare services and creating demand for Bittium's medical technology products and solutions. In order to enable strong international growth in a long term, Bittium invests significantly in developing its own products and solutions and aims at growing its net sales based on its products and product platforms.
Bittium expects that the net sales in 2019 will grow from previous year (EUR 62.8 million in 2018) and the operating profit to be better than in the previous year (2.8 million in 2018). Due to the product deliveries focusing on the second half of the year, the accumulation of the operating result is expected during the second half of the year, as in the previous year. In addition, the level of operating result in 2019 will be impacted by the investments in own products and product platforms started in 2017.
More information about Bittium's market outlook is presented in the section "Market outlook" in this Financial Statement Bulletin.
More information about other uncertainties regarding the outlook is presented in this Financial Statement Bulletin in the section "Risks and uncertainties" and on the company's internet pages at www.bittium.com.
Oulu, February 21, 2019
The Board of Directors
Tel. +358 40 344 5466
Tel. +358 40 344 2229
Nasdaq Helsinki Ltd
Bittium specializes in the development of reliable, secure communications and connectivity solutions leveraging its over 30 year legacy of expertise in advanced radio communication technologies. Bittium provides innovative products and services, customized solutions based on its product platforms and R&D services. Complementing its communications and connectivity solutions, Bittium offers proven information security solutions for mobile devices and portable computers. Bittium also provides healthcare technology products and services for biosignal measuring in the areas of cardiology, neurology, rehabilitation, occupational health and sports medicine. Net sales in 2018 were EUR 62.8 million and operating profit was EUR 2.8 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com