u-blox expects continued strong growth for 2017
Updated prediction for FY 2016 and new guidance for FY 2017
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.
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