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MeldingsID: 310838
Dato/tid 22.08.2012 07:00
Utsteder Otello Corporation ASA
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Strong revenue and profit growth

Oslo, Norway - August 22, 2012 - Opera Software (OSEBX: OPERA) today
reported financial results for the second quarter which ended June 30,

2Q 2012 financial highlights include:

  · § Revenues of MUSD 52.1, up 32% (up 37% on a constant currency
basis) versus 2Q11
  · § EBIT of MUSD 11.0, excluding one-time extraordinary costs, up 35%
versus 2Q11
  · § Adjusted EBITDA* of MUSD 14.5, excluding one-time extraordinary
costs, up 42% versus 2Q11
  · § Operating Cash Flow of MUSD 4.6 versus MUSD 6.5 in 2Q11
  · § Free Cash Flow of MUSD 1.1 versus MUSD 3.4 in 2Q11


Revenue was MUSD 52.1 in 2Q12 compared to MUSD 39.4 in 2Q11, an increase
of 32%.

Compared to 2Q11, 2Q12 saw strong revenue growth from Mobile Consumers
and Mobile Publishers and Advertisers, solid growth from Desktop and
Device OEMs and a decrease in revenue from Operators and from Mobile

Profit and cash flow

EBIT (excluding one-time extraordinary costs) was MUSD 11.0 in 2Q12
compared to MUSD 8.1 in 2Q11. EBIT (excluding one-time extraordinary
costs), excluding stock option costs, was MUSD 12.0 in 2Q12 versus MUSD
8.9 in 2Q11. EBITDA (excluding one-time extraordinary costs) was MUSD
13.5 in 2Q12 compared with MUSD 9.5 in 2Q11.  EBITDA (excluding one-time
extraordinary costs), excluding stock options costs, was MUSD 14.5
compared with MUSD 10.2 in 2Q11.

EBIT, including one-time extraordinary costs of MUSD 4.3, was MUSD 6.7
in 2Q12 compared to MUSD 8.1 in 2Q12. EBITDA, including one-time
extraordinary costs, was MUSD 9.2 in 2Q12 compared with MUSD 9.5 in
2Q11. EBITDA, including one-time extraordinary costs but excluding stock
options costs, was MUSD 10.3, compared to MUSD 10.2 in 2Q11.

The Company's net cash flow from operating activities was MUSD 4.6 in
2Q12 compared to MUSD 6.5 in 2Q11. 2Q12 cash flow from operating
activities was impacted positively by strong profitability and
negatively by an increase in working capital and conversion
discrepancies (due to a weaker NOK versus USD).

Opera's cash balance was impacted positively by net cash flow from
operating activities and proceeds from the exercise of stock options.
Opera's cash balance was reduced by outlays for acquisitions,
investments in R&D, a dividend payment and capital expenditures. Capital
expenditures, which are primarily related to Opera's hosting operations,
were MUSD 2.2 in 2Q12 versus MUSD 3.1 in 2Q11.

Operational Highlights

  · § Operators

Revenues of MUSD 10.4 in 2Q12, down 24% versus 2Q11

Operator Opera Mini license/data revenue of MUSD 9.2 in 2Q12 up 3%
versus 2Q11

Operator- and co-branded Opera Mini users reached 39.8 million by the
end of 2Q12, up 145% versus the end of 2Q11

Announced agreements with VimpelCom, Amercica Movil and Airtel, which,
combined, have more than 600 million mobile subscribers

  · § Mobile Consumers

Revenues of MUSD 3.4 in 2Q12, up 168% versus 2Q11

Total Opera mobile browser users reached 200 million at the end of 2Q12,
up 47% versus the end of 2Q11

Launched Opera Mini 7 with Smart Page for all basic mobile phones, in
addition to RIM and S60

  · § Mobile OEMs

Revenues of MUSD 1.3 in 2Q12, down 40% versus 2Q11

Launched the Opera Mini mobile web browser in Samsung Apps, Samsung's
dedicated application store

  · § Desktop Consumers

Revenues of MUSD 15.7 in 2Q12, up 22% versus 2Q11

Desktop users reached 55 million by the end of 2Q12, flat versus the end
of 2Q11

Opera 12 debuted

  · § Device OEMs

Revenues of MUSD 7.4 in 2Q12, up 16% versus 2Q11

Opera started shipping of the Opera TV Store in 2Q12 with a leading
consumer electronics manufacturer

  · § Mobile Publishers & Advertisers

Revenues of MUSD 13.5 in 2Q12, up over 450% versus 2Q11

Total mobile advertising impressions grew 92% to 102 billion in 2Q12
compared to 2Q11


Opera remains positive about the Company's overall growth prospects,
which are expected to be driven primarily by the mobile browser and
mobile advertising businesses going forward.

Within its mobile browser business, Opera continues to drive a
compelling value proposition for operators, helping such customers as
Vodafone and Telkomsel increase data and service revenue streams and

Moreover, Opera continues to deliver a very compelling value proposition
to its rapidly burgeoning mobile consumer base, providing a fast and
data saving and thereby cheaper, browser experience. Opera's strategy is
to capitalize on its more than 200 million mobile browser user base by
building Opera owned and operated properties and monetizing these
properties via mobile advertising, mobile search and mobile

Within Opera's Mobile Publisher & Advertiser business - non Opera owned
and operated properties, Opera expects to generate meaningfully more
revenue from this business in 2012 compared to 2011, as Opera ramps up
revenue directly from advertisers and ad agencies via its mobile
advertising network subsidiaries, Mobile Theory and 4th Screen
Advertising, and capitalizes on AdMarvel's strong position with premium
USA publishers.

Opera's key operational priorities in 2012 include continuing to (i)
sign up additional leading operators and grow active users of Opera's
new, and existing, products and services with existing operator
customers; (ii) grow revenues and users of Opera's mobile consumer
products, particularly on the Android smartphone platform, and expand
usage and monetization of Opera's owned and operated properties; (iii)
increase revenue from mobile publishers and advertisers (non-Opera owned
and operated properties) by expanding Opera's demand side advertising
reach and capabilities; (iv) increase Opera's position with top mobile
phone OEMs and chipset manufacturers globally to drive greater
distribution of Opera's mobile products; (v) grow Opera's desktop user
base, particularly in Russia/CIS; (vi) build on the momentum Opera has
with major ConnectedTV manufacturers; and (vii) increase Opera's overall
profitability and margins.

Please find the second quarter report (2Q12.pdf), second quarter press
release (2Q12_Press_release.pdf) and second quarter presentation
(2Q12_presentation.pdf) attached.

Webcast: http://www.opera.com/company/investors/

Erik Harrell, CFO/CSO

Tel: +47 2369 2400

Petter Lade, Investor Relations

Tel: +47 2369 2400

About Opera Software

Opera Software ASA has redefined Web browsing for PCs, mobile phones and
other networked devices. Opera's cross-platform Web browser technology
is renowned for its performance, standards compliance and small size,
while giving users a faster, safer and more dynamic online experience.
Opera Software is headquartered in Oslo, Norway, with offices around the
world. The company is listed on the Oslo Stock Exchange under the ticker
symbol OPERA. Learn more about Opera at http://www.opera.com/.

This Press Release contains forward-looking statements. These statements
include, among other things,
statements regarding future operations and business strategies and
future financial condition and prospects.
These forward-looking statements are subject to certain risks and
uncertainties that could cause our actual
results to differ materially from those reflected in the forward-looking
statements. Factors that could cause
or contribute to such differences are covered in the Opera Software FY
2011 Annual Report under the heading "Risk Factors." We undertake no
obligation to revise or publicly release the results of any revision to
these forward-looking statements, except as required by law. Given these
risks and uncertainties,
readers are cautioned not to place undue reliance on such forward
-looking statements.

*"Adjusted EBITDA" refers to EBITDA excluding stock option costs

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