THALWIL, Switzerland, January 12, 2017 /PRNewswire/ --
u-blox (SIX: UBXN), a global leader in wireless and positioning modules and chips, forecasts for FY 2016 revenues of CHF 360 million, and EBIT between CHF 56 and 58 million. The revenue was lower than expected due to slow business progress in the Americas where customers delayed further investments into mobility solutions, and took a more prudent approach in launching new products. The EBIT prediction has been narrowed down and remains high as before, and in relative terms it has improved again, profiting from a favorable product mix. Investments into R&D were maintained as budgeted.
For FY 2017 u-blox foresees continued growth in all regions and expects revenues of between CHF 410 and 425 million, with EBIT in the range of CHF 60 to 65 million.
An updated investor presentation is available on our website.
This release contains certain forward-looking statements. Such forward-looking statements reflect the current views of management and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of the u-blox Group to differ materially from those expressed or implied. These include risks related to the success of and demand for the Group's products, the potential for the Group's products to become obsolete, the Group's ability to defend its intellectual property, the Group's ability to develop and commercialize new products in a timely manner, the dynamic and competitive environment in which the Group operates, the regulatory environment, changes in currency exchange rates, the Group's ability to generate revenues and profitability, and the Group's ability to realize its expansion projects in a timely manner. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in this report. u-blox is providing the information in this release as of this date and does not undertake any obligation to update any forward-looking statements contained in it as a result of new information, future events or otherwise.
This press release is published in German and English. Should the German translation differ from the English original, the English version is binding.