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September 4, 2005

TTP warns of poor first half

Handset IP developer TTP Communications Plc has warned that its results will be below expectations in the first half to September 30, but said it is negotiating a big contract that it hopes will put it back on track for the full year.

By CBR Staff Writer

TTP said it expects first-half operating losses in the range of GBP13m to GBP15m ($23.9m to $27.6m). It blamed this setback on increased competition in Asia, and on the difficulties being experienced by local handset manufacturers in China to maintain market share. It has also been hit from slower-than-expected take-up of 3G handsets in the market, which in turn has affected the timing of sales of its 3G protocol stack and Silicon IP.

TTP said it had been examining ways it can more effectively bring its technology to market through the relationships it has with various customers. As part of this process, it said it is currently negotiating a significant transaction with one of these companies. It said this, combined with some improvement in the rate of orders booked in the second half, forms the basis of its belief that it can meet market expectations for the full year.

Last month, TTP broke through into the tier-one vendor market with a deal to license its AJAR cellular applications platform to Motorola Inc for the development of low-cost mass-market mobile devices. It indicated at the time is was also in negotiations to secure another deal to license AJAR to a tier-one producer, and this is likely to be the big contract that will enable it to meet expectations.

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