AVG Reports Record Revenue, EPS And Cash Flow For First Quarter 2013

PRESS RELEASE

AMSTERDAM, April 24, 2013 /PRNewswire/ -- AVG Technologies N.V. (NYSE: AVG), the provider of Internet and mobile security, privacy and optimization to 150 million active users, today reported results for the first quarter ended March 31, 2013.

Revenue for the first quarter of 2013 was $104.7 million, compared with $83.0 million in the first quarter of 2012, an increase of 26%.

Net income for the first quarter of 2013 was $24.4 million, or $0.45 per diluted ordinary share, based on 54.6 million weighted-average diluted ordinary shares outstanding. This compares with net income of $10.9 million, or $0.21 per diluted ordinary share in the equivalent period last year, an increase of 114% per diluted ordinary share. Net cash flow from operating activities was

$43.3 million in the first quarter of 2013, an increase of 110% compared with $20.6 million for the same period last year.

Non-GAAP adjusted net income for the first quarter of 2013 was $31.8 million, or

$0.58 per diluted ordinary share. This compares with non-GAAP adjusted net income of $18.2 million, or $0.34 per diluted ordinary share, for the same period of the prior year, an increase of 71% per diluted ordinary share.1 Unlevered free cash flow was $43.8 million for the quarter, compared with $22.8 million for the same period in the prior year, an increase of 92%.

Deferred revenue as of March 31, 2013 was $187.4 million, compared with $157.7 million at March 31, 2012 and $181.2 million at December 31, 2012. Cash and cash equivalents totaled $60.8 million and net debt was $14.4 million as of March 31,