Product category: Embedded Software and Operating Systems
News Release from: Esmertec
Edited by the Electronicstalk Editorial Team on 22 May 2006
Java price cuts hit Esmertec's revenues
Esmertec expects revenues for the six months ending 30th June 2006 will be substantially lower than previously indicated
Compared with revenues of US $20.1 million for the six months ended 30th June 2005, the expectation for the same period in 2006 is significantly below US $10 million. This development is due to a sharp price decline in the embedded Java business of the mobile phone market, and the management decision to focus more on shorter term contracts, which reduce financial risk but result in lower revenues.
This article was originally published on Electronicstalk on 22 May 2006 at 8.00am (UK)
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On the earnings side, the company expects a high loss in the first half of 2006, even before possible impairment losses on intangible assets.
Operating expenses are expected to be stable compared with the second half of 2005 and on target, and existing customers continue to pay based on quarterly shipments.
Alain Blancquart has resigned from his posts as Chairman and CEO of Esmertec.
Hans-Ulrich Muller, Vice Chairman of Esmertec's Board of Directors comments: 'Alain did a tremendous job in bringing this company from near zero to US $40 million revenue in only three years'.
'After reaching this point and taking the company public, Alain decided to move to another phase in his career'.
'The board thanks him for his vision and energy since joining the company in 2002, and for taking Esmertec to a leading market position with its best-in-class Java software solutions'.
Jean-Claude Martinez (52), COO and President of Esmertec's Mobile Operator Division, has been appointed as CEO for the interim period.
Martinez has over 20 years of international sales, marketing and strategic development experience in the IT industry.
He was brought in by Alain Blancquart three years ago and will now take the lead on the current international and highly qualified management team of the company.
As reported earlier this year, the company will extend its operations beyond the embedded software market, and consequently reduce dependency on a single market segment.
The business strategy will also focus on developing software solutions and services for mobile operators, mobile advertisers and game developers.
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