Hubwoo reported unaudited consolidated revenue results for the fourth quarter and full year of 2011. For the quarter, the company reported consolidated revenue of EUR 9.5 million against EUR 10.3 million a year ago. For the full year of 2011, the company reported revenues of EUR 36.5 million compared to EUR 37.6 million a year ago. Over the year, revenue declined slightly 3% compared to 2010 due to the combined effect of value losses on certain customer contracts re-negotiated in 2010 and first half 2011, and to the reorganization process of the sales force in Europe. Unaudited estimates show that the company will be able to confirm a solid and very satisfactory profitability level when the audited financial statements are published. Figures will improve compared to 2010, with EBIT only very slightly negative, as a consequence of exceptional/restructuring items in the order of EUR 1.5 million.