Tandberg Data on course for profitability as volume shipments begin

OSLO (Thomson Financial) - Tandberg Data ASA said it is on course for positive EBITDA by the end of the year, after starting volume shipments of its removable hard disk system to 'one of the largest global manufacturers and suppliers of computer products'.

'Although this is a frame agreement, the volumes are expected to grow rapidly and consistently over the coming years,' the Norwegian firm said.

This, Tandberg Data said, means it is on course to reach its goal of positive EBITDA by the fourth quarter of 2008.

'The company believes it will achieve this goal and further aims to reach positive net income by the end of 2008,' it said. [e-mail] ar/tc COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.