Herzliya, Israel – November 16, 2004 – VCON (Euronext- Nouveau Marché -ISIN CODE: IL 00 108 30540), a worldwide leader in audio and videoconferencing solutions, today reports financial results for the third quarter of 2004. Revenues for the third quarter of 2004 were $4.0 million (3.2 million EUR), compared to $4.6 millions (3.7 million EUR) reported in Q3 2003 representing a decrease of 12% and a decrease of 7% compared to $4.3 million (3.5 million EUR) reported for Q2 2004. The company reports a net loss of $2.0 million (1.6 million EUR) for the third quarter of 2004 compared to a loss of $0.9 million (0.8 million EUR) for the third quarter of 2003. (All EUR amounts in this press release are translated for convenience from US Dollars based on the exchange rate of 1 EUR = 1.233 US Dollars.) Referring to the company’s third quarter activities, Yair Shamir, CEO, commented, “Q3 revenues were below our expectations, however, we are continuing to dedicate resources with the aim of gaining market share in a challenging environment.” He added, “We are seeing increased interest in IP videoconferencing, where VCON has always focused its core technology". Commenting on the financial results, Jack Wakileh, CFO said “On one hand, we underachieved our goals for Q3, yet IP based revenues generated from the US and China markets have grown over the last quarters.” He added, “The restructuring measures in our far east activities that were announced last quarter are beginning to show positive results.”
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About VCON
VCON develops and manufactures a variety of conferencing solutions that enable seamless communication and collaboration using all forms of interactive media. The company’s award-winning technology ensures the highest audio and video performance for organizations worldwide. VCON’s meeting and collaboration solutions include desktop and group videoconferencing products, audio conferencing products, data conferencing products and management systems. The company markets its products and services through a network of reseller partners, OEMS and value-added resellers around the world. VCON has worldwide headquarters in Israel and regional headquarters in Munich, Austin and Beijing. VCON is publicly traded on Euronext (Euronext- Nouveau Marché -ISIN CODE: IL 00 108 30540).
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