STOCKHOLM, Sweden, April 29, 2004 (PRIMEZONE) -- Protect Data AB:
-- Sales increased 69% to SEK 58.1 M (34.4).
-- Sales of the proprietary product Pointsec increased 175% to
SEK 40.1 M (14.6).
-- Gross profit amounted to SEK 48.0 M (23.5), resulting in a
gross margin of 83% (68%). The high gross margin was due to the
large share for Pointsec in total sales.
-- Profit after net financial items amounted to SEK 15.1 M (loss:
6.4).
-- Profit after tax amounted to SEK 10.9 M (loss: 6.4).
-- Profit per share amounted to SEK 1.03 (loss: 0.61).
CEO THOMAS BILL'S COMMENTS:
- The improvement in earnings was primarily due to strongly increased sales of our own product Pointsec. It is also gratifying that recurring revenues of Pointsec increased by 61% compared to the same quarter last year, to SEK 10.6 M. This results in a more stable earnings trend over time.
- During the quarter, we received one of our largest orders from the financial sector in the US. The order, valued at SEK 22 M, strengthens our resolve to focus even more on business in the US. This has contributed to the decision that Peter Larsson, the manager for this business area, will lead Pointsec's operations from the US head office in Chicago as of June.
- Somewhat improved business conditions increased demand for Protect Data Solutions offering. There is potential for even better revenues when Nordic companies begin investing again, since IT security solutions are given high priority.
- Successes for Pointsec and the somewhat improved business conditions in the Nordic countries mean that Protect Data's earnings, despite increased investments, are expected to be significantly better than in 2003.
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