A quarter with continued stable growth
A stable start to the year was followed by another strong quarter, with continued steady growth in the media business, despite the more challenging macroeconomic environment. The development of Zyntai, the new time synchronization product for 5G, continues according to plan. We have delivered the first units and received the first pilot order in the US.
Crister Fritzson, CEO Net Insight
April – June 2023
- Net sales amounted to SEK 126.3 (110.1) million, an increase of 14.7% year-on-year. In comparable currencies net sales increased by 7.4%.
- Operating earnings amounted to SEK 9.9 (9.4) million, corresponding to an operating margin of 7.8% (8.5%). Excluding foreign exchange rate differences of SEK -1.7 (-0.2) million, operating earnings were SEK 11.6 (9.5) million.
- Net income for the period was SEK 10.9 (11.8) million.
- Earnings per share diluted was SEK 0.03 (0.03).
- Total cash was SEK -12.4 (-23.8) million. Excluding the cash impact from repurchase of own shares, the cash flow was SEK -7.7 (-23.8) million.
January – June 2023
- Net sales amounted to SEK 252.9 (219.8) million, an increase of 15.0% year-on-year. In comparable currencies net sales increased by 6.6%.
- Operating earnings amounted to SEK 21.9 (20.1) million, corresponding to an operating margin of 8.7% (9.1%). Excluding foreign exchange rate differences of SEK -3.0 (0.4) million, operating earnings were SEK 24.9 (19.7) million.
- Net income for the period was SEK 21,3 (19,9) million.
- Earnings per share diluted was SEK 0.06 (0.05).
- Total cash was SEK -42.2 (-25.0) million. Excluding the cash impact from repurchase of own shares, the cash flow was SEK -29.1 (11.7) million.
Q2 in brief
- Continued strong growth in media
- Pilot order in time synchronization from major US operator
- First units of new time synchronization product Zyntai delivered to customers
- Upgrade doubles Nimbra capacity
For the complete interim report, please refer to the attached PDF.
A webcast for media and the financial community will take place at 9:30 am CEST on July 18, 2023
CEO Crister Fritzson and CFO Joakim Schedvins will present and comment on the interim report: https://ir.financialhearings.com/net-insight-q2-2023
For further information, please contact:
Crister Fritzson, CEO of Net Insight AB, 08-685 04 00, email@example.com
About Net Insight
Net Insight (Nasdaq: NETI B) provides the highest performing, most open video transport and media cloud technology for content providers as the industry standard for flexibility and service across live contribution, distribution and remote production media workflows.
For over 25 years, the world’s leading content owners, broadcasters, production companies, service providers and enterprises have trusted Net Insight’s Emmy® Award winning Nimbra technology to guarantee media delivery. Today, Net Insight partners with hundreds of customers in over 70 countries to ensure media flows across managed and unmanaged IP networks, and the cloud – from anywhere, to everywhere. It enables customers to get the best from any mix of virtualized, cloud and IP technology and is the only platform to support all the major industry standards, protocols and clouds.
For more information, please visit netinsight.net