PresseBox
Press release BoxID: 520902 (Vizrt Head Quarter)
  • Vizrt Head Quarter
  • P.O. Box 7222
  • 5020 Bergen
  • http://www.vizrt.com
  • Contact person
  • Ofra Brown
  • +47 (5351) 8040

Vizrt Provides Outlook Update

(PresseBox) (Bergen, Norway, ) Vizrt Ltd. today announces that the Company reduces revenue expectations for full year 2012, due to lower than expected revenues in the past three months, especially in EMEA and The Americas.

The Company is now estimating revenues for the second quarter 2012 to be in the range of USD 28 million to USD 30 million, which compares to USD 32.1 million in Q2 2011. As a result, the Company also expects EBITDA for Q2 and the full year 2012 to be impacted.

The market conditions in both regions seem to have deteriorated as a result of the continued economic uncertainties. The main effects are slower decision making and the postponing of larger projects by customers.

Unless market conditions will improve during the rest of the year, the company believes that the earlier communicated revenue growth target of 13% for 2012 will have to be adjusted. Vizrt will provide further information in its second quarter financial results release on August 09, 2012

Vizrt Head Quarter

Vizrt provides real-time 3D graphics and asset management tools for the broadcast industry - from award-winning animations & maps to online publishing tools. Vizrt's products are used by the world's leading broadcasters and publishing houses, including: CNN, CBS, Fox, the BBC, BSkyB, ITN, ZDF, Star TV, Network 18, TV Today, CCTV, NHK, The Globe and Mail, Times Online, The Telegraph, and Welt Online. Furthermore, many world-class production houses and corporate institutions such as the Stock Exchanges in New York and London use Vizrt systems.

Vizrt is a public company traded on the Oslo Main List: VIZ, ISIN: IL0010838154. For further information please refer to www.vizrt.com