Gemalto reports full year 2008 revenue

Mobile Communication 948 (+6 percent) Secure Transactions 443 (+11 percent) Security 216 (+14 percent) Public Telephony 35 (-17 percent) Point of sale terminals 38 (-28 percent) Total revenue 1680 (+6 percent) The company confirmed its 2008 profit outlook of around Euro 160 million in adjusted operating income, and its 2009 objective of above 10 percent adjusted operating margin remains unchanged. Gemalto’s net cash position was Euro 344 million at the end of 2008 vs. Euro 314 million at the end of 2007, after spending Euro 65 million on the share repurchase programs during the year. Mobile Communications Software and Services revenues increased by 65 percent for the full year to reach annual revenues of Euro 65 million. Gemalto software and services offer include applications such as SIM portal, mobile banking, roaming and personal data management. For the full year the average SIM card selling price decrease was contained to 8 percent. Gemalto Secure Transactions segment includes payment cards, pay-TV and transport activities. 2008 segment revenue is up by 11percent, with personalization services growing by 30 percent. Contactless technology is an increasingly attractive opportunity for Gemalto customers and the company grew revenue by 50 percent with those new products as compared to last year. Additionally, market dynamics are further strengthened by the recent decision of Visa and MasterCard to require all EMV payment cards in Europe to be upgraded with the latest DDA (Dynamic Data Authentication) security technology by 2011. Gemalto Security segment includes Government Programs and Identity and Access Management (IAM). Government Programs revenue expanded by 16 percent with strong deliveries in the Americas. Identity and Access Management (IAM) revenue was down 5 percent, reflecting the current year efforts of indirect distribution channels to limit deliveries at the end of the year to minimize their inventories and a very strong quarter in the prior year. Gemalto three main segments, Mobile Communications, Secure Transactions and Security now account for more than 95 percent of its total revenue. Together, the three main business segments combined grew by 8.1percent for year 2008. The memory card market for Public Telephony continues to decline as mobile telephony expands worldwide. For the Point of Sales Terminals activity, revenue shortfalls were recorded in H1/2008 due to an issue related to a faulty component detected in Gemalto’s contract-manufacturer’s supply chain. The issue was solved in Q3/2008, and this segment is progressively returning to a normal level of activity. The Gemalto CEO, Olivier Piou, commented the results: “The three main segments together are up more than 8 percent for the full year. Software and services continue to expand rapidly, reaching nearly 10 percent of the Company annual turnover. We have experienced only a relatively small impact from the current global economic environment, and see limited changes in overall market demand.” www.gemalto.com  

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