Monday, 21 April 2008

TANDBERG Reports Q108 Financials

TANDBERG revealed its first quarter financials for 2008 reporting a 38.7% increase year-over-year with revenues totaling 178.1 MUSD.

"Our customers report that video is moving from a nice-to-have to an essential tool for transforming their businesses,” said Fredrik Halvorsen, Chief Executive Officer, TANDBERG.

“The Company's solid performance in the first quarter reflects this increasing importance of video communication for our customers and our strategic partners.”

Overall, on a global scale, TANDBERG said it sold 15,077 units in the first quarter, a 17.2% increase when compared with 12,866 units in the same quarter last year.

Revenues in Asia during the quarter totaled 20.0 MUSD. According to TANDBERG, the current performance in Asia reflects investment in the region and a new set of investment in channels and organization is needed for growth and sustainability.

The video-conferencing solutions provider also noted that South Asia continued its strong performance, concluding the quarter with a successful technology office opening in India.