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RPT-BRIEF-Opera Software warns on 2017 earnings as AdColony unit lags
August 24, 2017 / 5:33 AM / a month ago

RPT-BRIEF-Opera Software warns on 2017 earnings as AdColony unit lags

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Aug 24 (Reuters) - OPERA SOFTWARE ASA

* Q2 REVENUES $109.9 MILLION (REUTERS POLL $117 MILLION)

* Q2 ADJUSTED EBITDA $3.1 MILLION (REUTERS POLL $5.4 MILLION)

* RAMP IN ADCOLONY REVENUE SLOWER THAN EARLIER EXPECTED

* OVERALL, WE EXPECT TO BE BELOW THE GUIDANCE WE PUT OUT IN THE BEGINNING OF THE YEAR

* SPEED OF TRANSFORMATION TO MORE PROGRAMMATIC REVENUE STREAMS FOR ADCOLONY MAKES PREDICTABILITY LOWER ON REVENUE AND MARGIN, THUS WE DECIDED NOT TO GUIDE FOR THE THE REMAINDER OF THE YEAR

* ALL 4 COMPANIES EXPECTED TO BE PROFITABLE (ADJUSTED EBITDA) IN 2H17

* COST BASE REDUCED BY OVER $30M ($25M ADCOLONY & $5M SKYFIRE) ENTERING 2H17 VERSUS ENTERING 1H17

* FOR ADCOLONY THE FOCUS NOW IS TO GROW MONTH OVER MONTH AND WEEK OVER WEEK AS WELL AT GETTING NEW PRODUCTS TO MARKET THAT ACCELERATES THE REVENUE GROWTH

* EXPECTS ADCOLONY BUSINESS TO GENERATE REVENUE GROWTH IN H2 2017 VERSUS H1 2017

* EXPECTS TO SEE REVENUE GROWTH IN BEMOBI IN 2017 VERSUS 2016, AS BEMOBI TAKES THE SUCCESS IN BRAZIL TO A GLOBAL ARENA

* EXPECTS TO SEE STRONG GROWTH IN SURFEASY IN 2017 VERSUS 2016

* AIMS TO MAKE SKYFIRE PROFITABLE IN 2017SOURCE TEXT FOR EIKON: FURTHER COMPANY COVERAGE: (Reporting By Joachim Dagenborg)

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