Net Entertainment
Net Entertainment’s financial performance during the third and fourth quarter 2012
Net Entertainment 19.09.2012 10:15 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Net Entertainment's revenues are affected by the development of the Swedish currency in relation to other currencies, mainly the Euro. The majority of revenues are invoiced in Euro. The revenues are reported in Euro which is then calculated to Swedish SEK for the Group's reporting. Since the end of the previous quarter the Swedish Krona has strengthened significantly towards the Euro which affect Net Entertainment's revenues negatively in the third quarter. Furthermore the company's revenues have been negatively affected by delays of the launch of two large customers and the Olympics during July and August since the Company's customers, the operators, have focused marketing spending towards sports betting. Due to the above factors the Company estimates that the revenue growth for the third quarter compared to previous period 2011 is expected to be around 10 percent ( around 20 percent in Euros), which is lower than current market expectations. During the fourth quarter the Company's depreciation level is expected to increase as the projects Live Casino and the development related to the UK entry is completed. As the Company grows and different authorities set increased requirements the need to further develop Net Entertainments processes and systems increases which increases costs during the fourth quarter. Long term Net Entertainment is in a good position and the Company estimates that the strategic efforts made on Live Casino, the UK entry and mobile games in combination with slot games being available in Italy will generate good revenues during 2013. For additional information please contact; Per Eriksson, CEO Net Entertainment; Phone +46 8 57 85 45 00 per.eriksson@netent.com About Net Entertainment Net Entertainment is a premium supplier of digitally distributed gaming systems used by some of the world's most successful online gaming operators. The Net Entertainment casino is a complete gaming solution comprising both a complete management platform and a full suite of high quality games. Operators are provided a customized casino that is easily integrated ensuring short time to market and a cost efficient operation. Net Entertainment is listed on Nasdaq OMX Stockholm (NET-B). More information about Net Entertainment is available at www.netent.com. News Source: NASDAQ OMX 19.09.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Net Entertainment Sweden Phone: Fax: E-mail: Internet: ISIN: SE0001989252 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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