April 10, 2018 / 12:45 PM / a year ago

Napatech says on track to meet 2022 revenue target of $100 mln

OSLO, April 10 (Reuters) -

** Oslo-listed network computing firm Napatech is on track to meet its target of $100 million in revenues in 2022, it told investors and reporters on Tuesday

** “We see high growth opportunities compared to what we have seen the last years,” Chief Executive Officer Henrik Brill Jensen said

** The CEO expects strong growth and high volumes as the company moves into new and broader market segments more focused on software, particularly within cyber security and 5G telecoms, he told Reuters on the sidelines of the strategy update in Oslo

** Growth will come both from new and existing customers, and the company has several proof-of-concept engagements with market-leading customers, he added

** Napatech sees increasing co-development with tier 1 customers

** Increased focus on the North American market, where the largest opportunities are currently found, and where Napatech has entered strategic partnerships with Xilinx and Intel

** Napatech reported full-year revenues of DKK 206 mln ($34.10 million) in 2017

** Napatech shares traded down 7.5 percent at GMT 1241 ($1 = 6.0404 Danish crowns) (Reporting by Camilla Knudsen, editing by Terje Solsvik)

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