Statement from CEO Fredrik Tumegård:
"During 2013, Net Insight grew marginally, but improved its underlying profitability. The first two quarters of the year were weak, but during the second half, growth was 13%, a growth rate that is more rapid than the market."
Fourth Quarter 2013
Net Sales of SEK 78.8 million (68.3) an increase of 15.3% compared to the same period previous year. In comparable currencies the increase was 11,9%
Operating earnings, adjusted for one-time cost items of SEK 18.6 million (3.0), amounted to SEK 4.4 million (0.8), corresponding to an adjusted operating margin of 5.6% (1.2.)
Operating earnings amounted to SEK -14.3 million (-2.2), corresponding to an operating margin of -18.1% (-3.3)
Earnings per share of SEK -0.03 (0.01).
Total cash flow of SEK 21.4 million (-4.7)
January – December 2013
Net Sales amounted to SEK 280.8 million (280.3). In comparable currencies the increase amounts to 1.5%
Operating earnings, adjusted for one-time items of SEK 18.6 million (3.0), amount to SEK 8.9 million (5.7) corresponding to an operating margin of 3.2% (2.1)
Operating earnings amounted to SEK -9.7 million (2.7) corresponding to an operating margin of 3.4% (1.0)
Earnings per share of SEK -0.02 (0.03)
Total cash flow of SEK 17.9 million (-10.4)
Net Insight AB discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication on February 14, 2014 at 08.45 CET.
Net Insight delivers the world's most efficient and scalable transport solution for Broadcast and IP Media, Digital Terrestrial TV and IPTV/CATV networks.
Net Insight products truly deliver 100 percent Quality of Service with three times improvement in utilization of bandwidth for a converged transport infrastructure. Net Insight's Nimbra(TM) platform is the industry solution for video, voice and data, reducing operational costs by 50 percent and enhancing competitiveness in delivery of existing and new media services.
More than 200 world class customers run mission critical video services over Net Insight products in over 60 countries. Net Insight is quoted on the NASDAQ OMX, Stockholm. Net Insight AB : YEAR-END REPORT 2013
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
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