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January - September 2009
* Net sales of SEK 180.6 million (204.1). * Software license and support revenue of SEK 47.7 million (51.2). * Improved gross margin at 77.1% (71.6). * Net income before tax of SEK 29.3 million (31.0). * Total cash flow of SEK 4.0 million (4.7). * Earnings per share of SEK 0.05 (0.08).
Third quarter 2009
* Net sales of SEK 57.5 million (66.2). * Software license and support revenue of SEK 15.5 million (19.2). * Improved gross margin at 76.7 (74.8). * Net income before tax of SEK 8.2 million (9.1). * Total cash flow improved to SEK 17.6 million (14.0). * Earnings per share of SEK 0.01 (0.02). At the moment our revenues are not growing and there are three main reasons; reduced (but still substantial) repeat business, no large projects in a delivery phase and investment/project decisions slipping in many markets. Despite that, we are once again able to report healthy earnings, a positive cash flow and a strong financial position supported by a strong gross margin and operating expenses according to plans.
The underlying demand and the project planning activity is high in all of our core markets. Our growing partner network is playing a vital role in winning new business and we have taken initial steps together with large system integrators being a part of their total systems and services offering.
During the quarter we have also won eight new customers and established traction in some new very large markets such as e.g. Brazil. I consider this an important confirmation of the competiveness of our Nimbra platform and a foundation for future business in these new markets. It is interesting to note that in the currently challenging market with CAPEX restraints, we are better at winning new customers and markets than before.
Much of our business is project based which means that sales across regions fluctuate over time. Both Asia Pacific and Americas are behind in terms of sales compared to last year, but have picked up pace compared to the previous quarter. New customers and expansion orders from a large telecom operator has been a positive contributor in this period.
During the quarter we have also continued to win new orders for national Digital Terrestrial TV distribution networks. In this segment our unique Time Transfer feature is one of several strong competitive differentiators.
The Nimbra platform is a world-class media transport platform for reliable, easy-to-operate infrastructure for: video, TV, audio, radio and IT traffic. It unifies any mix of transport infrastructures such as IP/Ethernet/MPLS, SONET, WDM and fiber based networks. All delivered in a true multiservice one-box solution.
I reiterate that Net Insight is well positioned and we continue to confidently drive along our strategic direction for growth in the years ahead.
Please, download the full report below.
Stockholm, 22 October 2009
Fredrik Tragardh Chief Executive Officer
For more information, please contact: Fredrik Tragardh, CEO Net Insight AB, Tel: +46 (0) 8-685 0400, fredrik.tragardh@netinsight.net Thomas Bergstrom, CFO, Net Insight AB Tel.: +46 (0) 8-685 04 00, email:thomas.bergstrom@netinsight.net
Net Insight AB (Corporate Reg. No. 556533-4397) Net Insight AB (publ), Box 42093, 126 14 Stockholm, Tel +46 (0) 8 685 04 00, www.netinsight.net
This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
SOURCE: Net Insight AB
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