Microwave Vision Announces Sales for 2011 of €44.03 M, a Slight Increase Over 2010 and an Increase in Orders of 14%

PARIS, March 2, 2012 /PRNewswire/ --

Microwave Vision announced sales for 2011 of €44.03 M, slightly up from 2010 (€43.99 M), which represents a strong response to the decrease in business in its U.S. Aerospace and Defense markets in 2011.

Strong resistance to the economic climate 

The 15 % increase in the telecommunications activity has enabled Microwave Vision, as a manufacturer of communication product performance measurement systems, to counterbalance the shrinkage of its aerospace segment (30 % down from 2010 for the United States alone, and 10% down for the Group as whole).

This increase in business has also been sufficient to counterbalance an adverse exchange rate effect, due to the weakness of the dollar, which has eaten into Microwave Vision Group's turnover by €1.3 M. With a constant dollar, the actual business growth of the Group would be 3% for 2011.

The Group's turnover is well balanced, with 49% for the Civil Telecommunications sector and 51% for Aerospace & Defence. It is distributed over 3 geographic regions, with 30% in Europe, 34% in America and 36% in Asia.

The order book reflects the increase in orders over the last two quarters, amounting to €33.21 M, up 14% from 31 December 2010.

The Group's cash position remains strong, at €3.6 M as of 31 December 2011.

"We can only hail the efforts made by all the Group's teams over the last two quarters. They have coped with a major increase in our orders; their efforts are enabling us to step up our new product launch program, the first effects of which will be visible in 2012," explained Philippe Garreau, Chairman of the Group.

This turnover means that the Group can be confident of achieving its results targets for 2011. The Group's performance and prospects will be set out in the publication of the audited results, on Wednesday 2 May 2012.

About MICROWAVE VISION

MICROWAVE VISION Group - MVG - (NYSE-Euronext: ALMIC) is one of the leading world producers of antenna test and measuring systems for the radiocommunication, automotive, defense, and aerospace fields. With the inclusion of the business activities of ORBIT/FR Inc. (OTC Bulletin Board: ORFR), an American company in which the Group purchased a majority stake in May 2008, MVG is strengthening its position on its markets with the most innovative and comprehensive range of solutions available. This range combines high-precision electronic scanners developed by SATIMO INDUSTRIES using its "microwave vision" technology with ORBIT/FR products developed using high-performance positioner and electromechanical scanner technology. MVG is present in 8 countries (France, Italy, Germany, Sweden, USA, Israel, China, and Japan), with a workforce of 240. The Group boasts a clientele of major international accounts. It recorded a turnover of €43.9 M for its financial year ending 31 December 2010. MVG is OSEO "Innovative Enterprise" certified.

Alternext, ISIN FR code 0004058949 | To find out more: http://www.microwavevision.com 

SOURCE MICROWAVE VISION

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