Emblaze Ltd. (LSE:BLZ)
("Emblaze" or "the Group")
CURRENT TRADING
Ra'anana, Israel, 26 June 2008 - the Directors of the Group have taken notice
of the recent decline in the Group's share-price and would like to inform the
shareholders that there is no reason that the Group or its directors are aware
of that may be the cause of such decline.
As announced in our preliminary results for 2007 on 29 April 2008, the Group
has a strong balance sheet with total assets amounting to US$ 694 million and
consolidated cash and cash equivalents amounting to circa US$ 246 million. The
Group's Growth arm, which relates to the stable, mature and operational
companies managed under the Formula group, a 50.1% subsidiary of Emblaze, has
achieved revenues for the first quarter of 2008 totaled US$ 136 million, an
increase of 20% compared to US$ 114 million in the first quarter of 2007.
Formula's operating income in the first quarter of 2008 was US$ 6.5 million
compared to US$ 6.2 million in the same quarter of 2007 and its net income in
the first quarter of 2008 was $US 3.0 million.
Each of the Group's innovation activities, relating to the investments made by
the group in in-house technology research and development of future wireless
and cellular products, is making significant progress towards fulfillment of
their goals and objectives in terms of technological capabilities as well as
market exposure. The Group believes that its investment in these innovation
activities creates assets that will generate significant value in the future
The Directors of the Emblaze remain confident in the Group and its prospects.
Enquiries:
Emblaze
Hadas Gazit, Hagit Gal + 972 9 7699302/ 339
About Emblaze
Emblaze Ltd is a group of technology companies addressing both growth and
innovation activities thus combining the stability of "bread and butter" mature
technology enterprises with "high-risk / high-reward" investments in
innovation.
Our Growth arm includes Formula Systems (NASDAQ: FORTY and TASE: FORT), which
harbors the following subsidiaries: Magic Software Enterprises Ltd. (NASDAQ &
TASE: MGIC) develops, markets and supports composite application development
and deployment platforms with a service-oriented architecture (SOA), including
application integration and business process management (BPM), with existing
and legacy systems; Matrix IT Ltd. (TASE: MTRX) is one of Israel's leading
integration and information technology services companies, active in four
principal areas: software solutions and services, software products,
infrastructure solutions and hardware products, and training and assimilation.;
Sapiens International Corporation N.V. (NASDAQ & TASE: SPNS) is a provider of
IT solutions that modernize business processes to enable insurance and other
companies to quickly adapt to changes; and nextSource Inc., designs, develops
and implements web-based, high quality, innovative human capital management
solutions.
Our Innovation arm includes Emblaze Mobile, a designer of advanced mobile
devices; EMOZE, a provider of Push Email and synchronisation technology for
mobile devices; and ZONE-IP (LSE: ZIP) (Emblaze V CON), a provider of wireless
video communications technologies and conferencing solutions for operators and
enterprise markets over IP networks.
The Emblaze Group is traded on the London Stock Exchange (LSE: BLZ) since 1996.
www.Emblaze.com
END
|