Birdstep Technology ASA's wireless revenues in the first quarter 2006 grew with 36% to NOK 9.3 million, from NOK 6.8 million in the same quarter the previous year. The company was further strengthened with the recent acquisition of Segco Software and Birdstep is now uniquely positioned for growth in all wireless market segments; operators, OEMs and enterprises. Consolidated revenues grew to NOK 12.8 million for the first quarter 2007.

With 36 % growth in wireless revenue, Birdstep gained market share during the quarter. Going forward, only market leaders will have the capacity to deliver the complete portfolio required by major customers. 2007 will consequently be the year of consolidation. Birdstep has so far this year acquired Aramova Inc, as a foothold for expansion in North America, and Segco Software with its state-of-the-art seamless mobility solutions with strong information security to OEM's and enterprises. With Secgo Software, Birdstep becomes the leading provider of secure mobility solutions to the operator, OEM and enterprise markets, says Petri Markkanen, CEO of Birdstep Technology.

Birdstep`s first quarter 2007 consolidated revenues was NOK 12.8 million, compared to NOK 11.4 million for the first quarter 2006, representing an increase of 12%. EBITA improved with 15% to NOK (7.4) million for the first quarter 2007 from NOK (8.7) million for the first quarter 2006. Cash flow from operations improved with 35% to NOK (7.3) million, excluding investments in VoiceRoaming AS. Cash and cash equivalents at the end of the quarter were NOK 47.6 million for the group.

` We have invested heavily to be the leading player when the industry is going mass-market. Our new wireless portfolio branded EasyConnect is launched and in operation with our main customers. In addition, for only NOK 1.5 million spent in VoiceRoaming AS, we have already got a Mobile Voice over IP product ready for commercial trials, says Markkanen.

Birdstep`s wireless revenues increased with 36% to NOK 9.3 million for the first quarter compared to NOK 6.8 million for the first quarter 2006. The embedded database technologies segment revenue was NOK 3.5 million, a substantial decrease from NOK 4.7 million for the corresponding quarter in 2006. The results from the embedded database technologies segment was affected by delays in new product deliveries.

High growth wireless markets are core to our growth strategy. Birdstep intends to grow both organically as well as through acquisitions. We are looking forward be a leader in the expected market consolidation, says Petri Markkanen.

Source: Birdstep