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17
August
2012
Financial Report

Thinfilm's revenue down in first half 2012

Thinfilm’s revenue amounted to 622 thousand NOK (84.8 thousand euros) in the first half of 2012 down from 1.2 million NOK (164 thousand euros) in the first half of 2011.
Operating costs amounted to 23.3 million NOK in the first half of 2012, including the notional cost of share based compensation of approximately 2.3 million NOK . The corresponding figures for the first half of 2011 were 20.9 million NOK and 1.0 million NOK, respectively.

This increase is mainly explained by higher salary costs as Thinfilm has strengthened its technical staff significantly over the last year. At the end of the first half 2012, there were fifteen fulltime employees in the group (compared to eleven full-time employees at the end of the first half 2011).
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