Trolltech delivered 42% revenue growth

Announcing Q4 2006 financial results

Oslo, Norway, 28 February - 2007 - Trolltech®, the company that makes software faster to build and easier to use, today announced the financial results for Q4 2006. With 42% revenue growth, Trolltech has reached the projected revenue growth of 40-50% for 2006.

Trolltech generated revenues of NOK 53.1 million in Q4 2006, an increase of 28% compared with the corresponding period in 2005. In 2006, revenues totaled NOK 174.1 million, compared with NOK 122.8 million in 2005.

The operating loss was NOK 18.0 million in the fourth quarter, compared with an operating profit of NOK 2.1 million in the same period in 2005. For the full year, the operating loss increased to NOK 48.7 million from NOK 6.4 million, reflecting a sharply increased activity in sales and product development and an increase of almost 50 percent in the number of employees and full-time consultants during the year. For further financial details, please see the full interim report for the fourth quarter 2006 at www.trolltech.com/company/ir .

Trolltech increased its staff by 20 people in Q4 2006, totaling 232 employees at the end of the quarter, including consultants. Trolltech will continue to hire highly skilled professionals throughout 2007, although the increase in staff is expected to be lower than in 2006 in both absolute and relative terms.    

"Trolltech is proud to have reached our revenue growth targets for 2006," commented Eirik Chambe-Eng, co-CEO, Trolltech. "Moving into 2007, we are looking forward to continue our ambitious growth strategy with the aim to establish Trolltech as a leading software platform vendor."

Both Qt and Qtopia contributed to the strong growth in 2006. Qt revenue growth was approximately 36 percent, firmly meeting the 30-40 percent estimated revenue forecast for the full year. Qtopia revenue growth of approximately 67 percent was below the expected growth range of 80-100 percent due to slower-than-expected sales in the second half of the year. As Qtopia is built on Qt, the revenue split between the two product groups is an approximation.

Fourth quarter 2006 saw numerous product news announcements and releases, both in the Qt and Qtopia product families. Highlights include Qt 4.2 and technical preview of Qt Jambi™ (Qt for Java™) on the desktop side, and Qtopia Greensuite Initiative, Qtopia 4.2 and several product awards on the mobile and embedded side.

Qtopia based, dual mode and WiFi phones are now available in the market. Furthermore, Qtopia Phone Edition is opening Linux to feature-rich, SIP supported devices – a key competitive advantage for operators and handset manufacturers. The recently announced technology break-through that now allows Linux on single-core phones puts Linux and Qtopia in the forefront of mobile technology aimed at the mass market.

"The range of requirements for mobile devices leads to a diversity of platforms way beyond that of the desktop computer. However amid this diversity, manufacturers are seeking solutions to allow them to come quickly to market, service providers need open standards to simplify their business and users are looking for rich and compelling experiences. Mobile platforms based around Linux can play a significant part in this," said Rob Bamforth, Principal Analyst at Quocirca

For further information please contact:

Asia-Sept2007

Yvonne Liao
Ruder Finn Asia
+ 86 10 64627321 - 648
liaoy@ruderfinnasia.com

Europe

Andrea Willige / Six Degrees Public Relations
+ 44 1628 480280
andrea.willige@sixdegreespr.com

U.S

Candace Locklear / Spark PR
+1.415.321.1876
candace@sparkpr.com