Esmertec announces its half-year results

Esmertec has announced its half-year results, strengthening of its senior management team and has provided an update on the envisaged IPO of the company.

Esmertec, an independent developer of software solutions for mobile handsets and embedded devices, has announced its half-year results, strengthening of its senior management team and has provided an update on the envisaged IPO of the company.

Esmertec's total revenue in the first half of 2005 increased by 129% to US $20.1 million compared with the total revenue of US $8.7 million in the corresponding period in 2004.

Its EBITA margin, before exceptional items, was 17.4% for the first half of 2005.

Exceptional items, which total US $2.9 million, consist of write-offs of a portion of IPO expenses and a bad debt provision for a customer who went into receivership.

Net loss for the first half of 2005, including the exceptional expenses, totaled US $2.0 million, a significant improvement over the net loss of US $3.7 million in the first half of 2004.

In the senior management team, Alain Blancquart, Chairman and CEO, will be focusing on the corporate vision and strategic development of Esmertec Group.

Jean-Claude Martinez has been promoted to President and COO of Esmertec AG, where he will be responsible for the day-to-day operation and management of the company.

Deborah Choate has been appointed as Corporate Chief Financial Officer, effective 1st November 2005.

Choate has over 20 years of financial management experience and was previously VP in European Asset Management at Platinum Equity Advisors International.

Prior to Platinum, she served as CFO and Group VP at Wavecom for six years, where she led the project team for Wavecom's simultaneous dual-listing on Nasdaq and the Nouveau Marche in 1999.

Arno Waschkau continues in his function as CFO until end of October 2005 and will stay on as financial consultant to Esmertec until the end of 2005.

Jean-Pierre LeBlanc has been appointed as Chief Strategy Officer, a newly created function, where he will be responsible for initiating, driving and developing business relationships with Esmertec's strategic technology and solution partners.

Prior to Esmertec, LeBlanc served as CTO and SVP New Technology at Cellon International, and brings to Esmertec over 20 years of experience in the mobile and software industry.

Esmertec's senior management team now consist of seven persons, including Anne-Marie Larkin who continues to serve as Chief Technology Officer, and Sylvie Vollet who continues in her role as General Counsel and Director of Human Resources.

"We have in place a very experienced and skilled management team to bring the company forward to its next stage of growth", says Alain Blancquart, Chairman and CEO.

"Each member of the team, with a minimum of 15 years of experience, is an expert in their field whether it is sales, management, operations, technology, legal, finance or strategy".

"Together, we are dedicated to capturing market share and extending our technology leadership by delivering innovative software products and solutions for mobile phones and embedded devices".

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