Net Sales for 2016 increased to SEK 503,5 million, with operating earnings of SEK 52,4 million
Statement from CEO Fredrik Tumegård:
"A 20 percent growth in the fourth quarter concludes a strong and profitable 2016."
Fourth Quarter 2016
- Net sales amounted to SEK 133.0 (110.6) million, up 20.3 percent year on year. The increase was 13.0 percent in comparable currencies. Organic growth was 20.3 percent.
- Operating earnings amounted to SEK 13.7 (-1.4) million, corresponding to an operating margin of 10.3 (-1.3) percent. Adjusted operating earnings were SEK 15.3 (4.3) million.
- Net financial items were affected by SEK -6.3 (-12.0) million for the revaluation of synthetic options.
- Total cash flow was SEK 7.3 (-105.0) million. In the comparative period, cash flow was charged with the net purchase consideration for ScheduALL of SEK -98.2 million.
January - December 2016
- Net sales amounted to SEK 503.5 (375.8) million, up by 34.0 percent year on year. The increase was 31.1 percent in comparable currencies. Organic growth was 19.8 percent.
- Operating earnings amounted to SEK 52.4 (19.2) million, corresponding to an operating margin of 10.4 (5.1) percent. Adjusted operating earnings amounted to SEK 61.7 (27.6) million.
- Net financial items were charged with SEK -3.2 (-11.8) million for the revaluation of synthetic options.
- Total cash flow was SEK 20.9 (-101.1) million. In the comparative period, cash flow was affected by the net purchase consideration for ScheduALL of SEK -98.2 million.
Significant events
- Sye received several new awards during the fourth quarter.
- Order valued more than SEK 13 million from a North American service provider who is expanding its network reach.
- The share moved to the Nasdaq Stockholm Mid Cap List on January 2, 2017.
For further information, please contact:
Fredrik Tumegård, CEO of Net Insight, +46 8 685 04 00, fredrik.tumegard@netinsight.net
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 person set out above, at 08.45 am CET on February 16, 2017.
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
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
Source(s) : Net Insight AB
