Vizrt Reports Q4 and 2012 Results - Growth in APAC and The Americas partially offsetting continued market softness in Europe - Seite 2

Martin Burkhalter, Vizrt CEO, commented on the results: "Despite tough market conditions in Europe in 2012, we were able to conclude the year with nearly flat revenues compared to last year, as well as improving our margins. The decline in revenues was due to the continued market weakness in Europe, where macro-economic related uncertainties resulted in substantially longer investment decision cycles, especially with regards to larger projects.  Although these effects weigh on the global business environment, we managed to increase our sales in APAC and The Americas."

"Our margin improvement is the direct result of a strong focus on cost control, as well as an improvement of our gross margins. Despite our focus on cost control, we have not compromised our capabilities to implement our strategic objectives and further development of the company, maintaining our innovative edge, and offering prime products and services enabling our clients in achieving high quality and workflow efficient content distribution and channel differentiation."

"As to our product lines, BG has been relatively stable. Notwithstanding the difficult market conditions we recorded further growth in MAM. We feel that broadcasters and other content owners are recognizing the importance of a file based workflow and the value of extending and expanding the economic life and usability of media assets. We expect broadcasters to continue to invest in this area and we therefore see an even stronger upside for this product line once there is a more sustainable global economic recovery. Performance of our Online business was below expectations. This product line is strongly affected by the uncertainties in the macroeconomic environment."

"We see ourselves returning to our earlier communicated 13% target revenue growth, mid- to long-term.  For 2013 we anticipate growth, though in the mid to high single digit range.  Growth will come predominantly from The Americas and APAC, with Europe expected to show a modest recovery in the second half of the year.  For 2013 we will maintain our focus on cost control, though as said, without compromising the strength of our organization, and we will continue to invest in expanding our product and market leadership position."