Opera Software targets 48 pct growth in 2008

OSLO (Reuters) - Norwegian browser maker Opera Software (OPERA.OL) said it is targeting revenue growth of around 50 percent in 2008 and even more in 2009 on increasing demand.

Opera Software, a tiny rival to industry leader Microsoft (MSFT.O), said revenues should grow on a par with 2007, when they increased 48 percent to 315.5 million crowns ($61.21 million).

In 2009 Opera aims to grow "48 percent or more," it said on Thursday in presentation material for a capital markets day in Oslo.

It also said it targets an EBITDA (earnings before interest, tax, depreciation and amortization) margin of 12 percent in 2008 and more than 20 percent in 2009.

Opera, which makes browsers for cellphones and other mobile gadgets as well as for desktop computers, has seen its software included on more and more phones. It earns money from licensing its software to mobile phone and other equipment manufacturers.

The market for the group's software is in rapid growth, Chief Financial Erik Harrell told analysts and reporters at the investor event, adding that a newly appointed strategy team will consider acquisition opportunities.

"The market opportunities are huge and Opera is well-positioned to take advantage of them," the company said.

Opera said it would continue to invest heavily in its core markets in Europe, the United States, Japan and Korea.

(Reporting by Aasa Christine Stoltz and Ole Petter Skonnord; Editing by David Cowell)