Comrod Communication Group continues in Q4 the strong development with its main Business Areas Antennas and Masts.
Highlights since Q3 reporting:
- Best quarterly revenue ever
- Strong development from main business areas
- MIDS/Terre mast contract
- Breakthrough for flat panel antenna
- Milestone order for antenna control system
Business Area Power Supply has in Q4 focused on the strategic start up deliveries of the new custom built battery chargers to Harris Corporation Inc.
Revenues for Q4 of 2008 were MNOK 107.5 (MNOK 103.6). (Figures for corresponding period of 2007 will hereafter be shown in brackets). Revenues for full year 2008 was MNOK 368.6 (MNOK 289.9), an increase of 27%.
Operating profit (EBIT) for Q4 was MNOK 11.0 (MNOK 13.6). EBIT for full year was MNOK 30.7 (MNOK 29.6). The EBIT for the full year, includes non-recurring one time cost of MNOK 2.2 related to change of CEO.
Financial results indicate that the Group has achieved the planned operational efficiency at the new and higher turnover level, thus generating sound financial results overall.
Business area Antennas
For Antennas, revenues for Q4 of 2008 were MNOK 69.6 which is the same high level as Q4 of 2007. Revenues of MNOK 259.6 for the full year are an increase of 52% from last year. EBIT for antennas for the full year was MNOK 35.4, an increase of 88% from the MNOK 18.8 EBIT last year.
Business area Masts
For BA Masts, revenues for Q4 of 2008 were MNOK 19.2 (MNOK 17.2). Revenues for the full year of 2008 were MNOK 64.7, an increase of 19% from the same period last year. EBIT for the year was MNOK 9.5, an increase of 40% from MNOK 6.8 for the same period last year.
OUTLOOK
The Board is satisfied with the revenues in Q4 and the positive EBIT development of the two main Business Areas, Antennas and Masts.
The order backlog at the end of Q4 is at similar levels as at the Year End 2007. The new products launched will contribute to further growth in 2009.
For the first half of 2009, the Company expects revenues above the 2008 level. The second quarter is expected to be stronger than the first quarter. Variations between quarters can be expected also in 2009 for revenues and EBIT-levels.
The report for Q4 2008 is enclosed.
For further information please contact:
Niklas Hermansson CEO of Comrod Communication Group, mobile phone +47 958 75 555 or
nh@comrod.com
Kjell Ove Hatlem, CFO, mobile phone +47 48 13 1065 or
koh@comrod.com 
