Full year results are into the black with net income of $11.6m (1999: $7.5m loss).
Profitable business achieving operating profit of $1.6m (excluding non-recurring charges and goodwill amortization resulting from the acquisition of Orca Interactive and Zapex Research and excluding any interest income)
Turnover increased by 310% to $30.7 million (1999 $7.5m)
Continue to maintain positive cashflow position
Extensive M&A activity acquired full ownership of Orca Interactive Ltd and Zapex Research and invested in Tornado Development, Inc. a leading developer of Unified Messaging solutions. Emblaze continues to look at a number of potential acquisitions
Further licensing and royalty deal with Samsung for implementation of A3 chip into next generation phone
Licensing agreement with Ericsson to OEM Emblaze technology for a combined Ericsson/ Emblaze solution for cellular operators
Naftali Shani, Chairman of Emblaze, said: We are extremely pleased with the performance of the business over the last twelve months. Our strengthened business model and focus on the wireless market has put us in an excellent position to take advantage of the growth in the sector. The slow-down in the telecommunications sector has had no effect on our business. In fact, our market segment is booming and we believe this strong growth will continue for the foreseeable future.
Eli Reifman, Chief Executive Officer of Emblaze, added: We have seen unprecedented interest in our technology and have entered into a record number of deals. The Company is at various stages of progress with literally hundreds of potential telecoms clients and strategic partners and expects to close a significant number of deals as a result of its sales and marketing activities in 2001. We are rapidly becoming a recognised brand name in the telecoms market.
