Ixonos OyjXNS1VHE Key Developments | Reuterscom

Wednesday, 29 Jun 2011 01:30am EDT 

Ixonos Oyj announced that due to changes in the Company’s operating environment, Ixonos closes its office in Boston and focuses its United States sales activities on the West Coast, quicker to its corporate customers developing mobile technology as well as to media and additional companies as long as mobile content and services. In Europe, the Company closes its office in Copenhagen, concentrating its Danish operations in Aalborg, where development work based on the Android operating system is life carried out. In connection with the rationalization of international operations and with the previously announced co-operation negotiations in Finland, the Company will recognize non-recurring costs of EUR 0.4 million in the second quarter of this year. The rationalization is expected to make annual savings of approximately EUR 2.5 million from the third quarter of 2011. The Company also announced that it has confirmed its previous fiscal year 2011 guidance and expects to report fiscal year 2011 revenue and operating profit (EBIT) lower than fiscal year 2010 revenue and operating profit (EBIT), but the fiscal year 2011 operating profit (EBIT) is expected to remain positive. According to I/B/E/S Estimates, analysts were expecting the Company to report fiscal year 2011 revenue of DKK 74.47 million compared to the fiscal year 2010 revenue of DKK 84.94 million. 

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Ixonos OyjXNS1VHE Key Developments | Reuterscom