Bittium Lowers Financial Guidance
Tuesday, October 10, 2017 | Comments

Bittium lowered its financial guidance for 2017 because of a delay in the first phase of product deliveries for the Mexican Mexsat satellite phone system, which will be mainly executed in 2018 because of Mexican governmental customers. Bittium originally expected those product deliveries to be executed during the second half of 2017.

Bittium expects that net sales in 2017 will be lower than in the previous year — €64.2 million (US$75.8 million) in 2016. The operating result is expected to be negative.

The decline in the amount of the product deliveries of the Mexsat mobile devices in 2017 will not change Bittium’s long-term growth outlook. Bittium will continue to look for inorganic growth opportunities in all its product and service areas and is prepared to invest in acquisitions that support its growth strategy.

Bittium makes rugged smartphones targeted at the public-safety Long Term Evolution (LTE) market.

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