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24 Jan 2018 07:00
24 January 2018
Ubisense Group plc
("Ubisense" or the "Company")
Trading Statement
Ubisense Group Plc (AIM: UBI), a leader in high performance Enterprise Location Intelligence systems through its RTLS SmartSpace and geospatial myWorld offerings, is pleased to provide the following trading update for the year ending 31 December 2017.
The Company showed strong revenue growth for its own RTLS SmartSpace and myWorld products, particularly in North America, with its own product revenues increasing by more than 25% over the prior year. In addition to the announced contract wins, Ubisense continued to sign both new deployments and expansion projects during the year. Own product revenue growth has more than offset the expected transition away from legacy third party services projects. As a result, the Company expects overall revenues to have increased over the previous year.
The Company is continuing to invest in both sales capacity and further development of its software and hardware solutions. Ubisense enters 2018 with a strong order book for its own products, a growing sales pipeline and momentum with key customers.
The Company expects to report a cash balance of £9.1 million and a net cash positive position of £6.6 million as at 31 December 2017.
Richard Petti, CEO, said:
"The refocusing of our strategy has resulted in several strategic wins in aerospace, telecommunications and automotive sectors which will be the foundation of our future growth in these markets. Our focus on enterprise software and investments into our go-to-market capabilities is building our pipeline and will drive gross margin growth."
The Company expects to announce its results for the 12 months ending 31 December 2017 in March 2018.
For further information contact:
Ubisense Group plc +44 (0)1223 535170
Richard Petti
Tim Gingell
Numis Securities Limited +44 (0)20 7260 1000
Jamie Lillywhite
Toby Adcock
Redleaf Communications +44 (0)20 7382 4730
Elisabeth Cowell
Fiona Norman
About Ubisense
Ubisense (AIM: UBI), is a global leader in Enterprise Location Intelligence Solutions, proven to drive quality, reduce costs, manage complexity and increase productivity for its customers across the world. Central to its offering are two powerful IIoT software platforms that can take data from any source to provide visibility of customers' operations. Offering in-depth knowledge of the sectors in which it operates across the world, Ubisense has long standing relationships with many customers across target markets including automotive, aerospace, logistics, communications and utilities. Founded in 2002, Ubisense is headquartered in Cambridge, England, with operations in North America, Germany, France and Japan. www.ubisense.net
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