Trolltech® Reports Q1 2008.

Published Fri, 2008-05-09 14:53 Corporate Finance

Trolltech® announced the financial results for the first quarter 2008. Trolltech ASA generated revenues of NOK 55.6 million in the first quarter, which constitutes a year-over-year revenue growth of 15.5 percent. There has been a positive sales trend in Q1 driven by the sales of the Qt® application framework and Qtopia® software.

- We continue to build our business through an increasing number of market leading customers. Trolltech has a global client base in a wide range of industries, ensuring that Qt continues to be a world-class cross-platform tool at the forefront of innovation, says CEO Haavard Nord.

6th of May a new version of Trolltech’s flagship product Qt was released. The new Qt 4.4 features enable software developers to build advanced user interfaces that incorporate real-time web content and services more smoothly than previously possible, as well as to create applications supporting both Windows CE and embedded Linux devices from one code base.

Qt is a cross-platform application framework that enables programmers to deploy their applications on desktop and embedded platforms, while Qtopia is a platform and user interface for Linux-based devices.

Trolltech’s revenue is primarily generated from license sales, subscription and support services. Operating costs remained under control and there was, as planned, a stable growth of employees to support the increased customer base of over 5000 customers.

On January 28, 2008, Nokia and Trolltech announced that Nokia intended to make a public voluntary tender offer to acquire Trolltech.
- The acquisition is expected to be completed by the end of second quarter of 2008, as previously announced in the press release from Nokia, January 28, says CFO Knut Stålen.

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