u-blox issues new financial guidance as it expects continued strong growth for 2017
u-blox, a global provider of wireless and positioning modules and chips, forecasts revenues of CHF 360 million (€335 million) for FY 2016. It now expects EBIT (earnings before interest and tax) between CHF 56 and 58 million (€52 – 54 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 (€382 – 396 million), with EBIT in the range of CHF 60 to 65 million (€56 – 60 million).
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