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(Copenhagen, 5 April 2018) Napatech A/S ("Napatech", OSE: NAPA) announces sales in the first quarter 2018 of 3.9 MUSD, compared to 8.2 MUSD in the first quarter in 2017, following postponement of customer projects and inventory reductions. The sales are in line with the previously communicated expectations for the quarter. Napatech continues to attract a strong interest for its reconfigurable computing solutions and reiterates the growth potential and strategic outlook.
"In spite of the recent shortcoming in terms of sales, we are motivated by the certainty of Napatech`s leading position as the preferred supplier of FPGA-based reconfigurable computing solutions, and the major market momentum leading more and more customers to require our solutions. Napatech pioneered the use of FPGA-based technologies to improve the performance of leading IT network, security and communications applications. Our business is based on a solid foundation of customers in tier-one equipment manufacturers, network service providers, cloud service providers, enterprise and government. These first adopters of FPGA-based solutions have used Napatech`s reconfigurable computing platform for a wide range of networking, cyber security, 5G mobile, analytics, big data, service quality management and other applications, and, as reflected in our long-term outlook, we expect many to follow," says Henrik Brill Jensen, Chief Executive Officer of Napatech.
2017 saw the beginning of several initiatives to support Napatech`s growth ambitions, that also help to counter the recently experienced weaker sales development created by customers` postponement and reduced orders, inlcuding:
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Expansion of Napatech`s board of directors, adding industry recognized experts with proven success in cloud, data center, server and software businesses.
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Strengthening of the executive management team, adding new Chief of Sales and marketing officers in the United States.
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Aligning product and technology plans by partnering with the leading suppliers of FPGA technologies and tools.
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Increasing the global sales force and technical support in the North American regions that represent the highest concentrations of customer growth and organizing around unique customer segments, who benefit from reconfigurable computing.
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Expansion of the worldwide channel sales organization to further leverage external resources to extend our reach to the emerging set of end-user customers who require our solutions.
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Expansion of Napatech`s product portfolio to include more software offerings and professional services, enabling Napatech products to be deployed in any open and standard server platform.