Kenneth Dastol, Zenitel Chief Executive Officer, commented:
“Zenitel made a strategic move in 2009 by divesting its non-core entities and focusing on its profitable activities – Secure Communication Systems (SCS) and the Caribbean Network. These operations confirmed their profitability in a competitive market, and enabled Zenitel to report a net profit for first time in many years, although the overall revenues were down 5,1 percent due to a decrease in the worldwide marine market and less project business in Scandinavia.
In the past two years, Zenitel’s total net financial debt and provisions were reduced by 4,6 million Euro, reaching 13,5 million Euro at the end of 2011.
We continued our strategy to bring new products and solutions to the market during 2011. We were proud of introducing our new Stentofon Intercom System, our Recording– and Redundancy
Solutions as well as a set of new IP stations. We will continue to launch new products in 2012, including our new Turbine Stations. These stations that were announced to all new and existing customers in the first quarter of this year will be officially launched in the 2nd quarter. We will continue to bring new station models to the market in the second half of 2012.
While the world economies continue to be fragile, the operational improvements we have implemented over the past years as well as the quality of our product offerings are expected to enable us to continue our financial performance and further improve our balance sheet.”