Net sales increased by 52% in the third quarter, with an operating margin of 15% (11)
Quote from CEO Fredrik Tumegård:
"Continued strong growth confirms that the business strategy remains a positive driver for Net Insight."
Third Quarter 2016
- Net sales were SEK 128.2 (84.3) million, up 52.1 percent year on year. The increase was 50.8 percent in comparable currencies. Organic growth was 34.2 percent.
- Operating earnings were SEK 18.9 (9.5) million, corresponding to an operating margin of 14.8 (11.3) percent.
- Total cash flow was SEK 12.3 (-8.5) million.
January – September 2016
- Net sales were SEK 370.5 (265.2) million, up by 39.7 percent year on year. The increase was 38.6 percent in comparable currencies. Organic growth was 19.5 percent.
- Operating earnings were SEK 38.7 (20.6) million, corresponding to an operating margin of 10.4 (7.8) percent.
- Total cash flow was SEK 13.6 (3.9) million.
- SIS orders Sye to deliver video cost efficiently over the internet.
- Net Insight won a significant order from a leading service provider for a European sporting league. The new arena contribution network will connect 20 stadiums over optical fiber to enable 4K and HD video broadcasts to TV consumers and business customers.
- ScheduALL was fully incorporated into Net Insight's umbrella brand. The ScheduALL brand will continue as the name of the scheduling product line.
- Net Insight repurchased 1.5 million shares with a total value of SEK 10.3 million, in accordance with a resolution by the AGM.
For further information, please contact:
Fredrik Tumegård, CEO of Net Insight AB, +46 8 685 04 00, firstname.lastname@example.org
Thomas Bergström, CFO of Net Insight AB, +46 8 685 04 00, email@example.com
This information is information that Net Insight AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 08.45 am CET on October 28, 2016.
About Net Insight
Net Insight's vision is to enable a live and interactive media experience for anyone on earth. Our aim is to lead progress and enable a global media marketplace where live content can be exchanged and interaction among TV audiences can take place in real-time. We want to create the media experience of the future, centered on content.
Net Insight delivers products, software and services for effective, high-quality media transport, coupled with the effective management of resources, all, which creates an enhanced TV experience. Net Insight's offerings span across the entire media spectrum, starting from TV cameras and TV studios, right through to the TV consumers. Our solutions benefit network operators, and TV and production companies, by lowering total cost of ownership, improving their workflow efficiencies and providing them with the ability to capture new business opportunities.
More than 500 world-class customers run mission critical media services using Net Insight's solutions, covering more than 60 countries worldwide. Net Insight is listed on Nasdaq Stockholm.
For more information,please visit netinsight.net
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Net Insight AB via Globenewswire