LINKOPING, Sweden, April 25, 2002 (PRIMEZONE) -- Nexus:
First quarter 2002
Market demand was at a very low level between January and Easter, mainly in the Malardalen area. Despite this, Nexus has managed to retain its net sales level from 2001, which indicates that the company has gained market shares.
The company has experienced a reduction in contracts and incoming orders, mainly in the Bank/Finance and Telecom segments.
Positive features are the continued high flow of incoming orders in the Secured Messaging segment, and robust development in some foreign markets.
Action plan
The company sees signs of an increasing flow of incoming orders, which has been communicated in the last few days. The market situation in general, however, is very insecure and the company has established the need for an action plan consisting of:
For the company as a whole, a limited reduction in staff, mainly in the Malardalen area.
Streamlining and a reduction of management and the management group.
A sharpened focus on the core business of the Company.
Effects
It is anticpitated that the action plan will result in annual future savings of SEK 30 million.
The effects for 2002 will be approximately SEK 15 million, including one- time costs for the implementation.
The impact will be evident during the fourth quarter of 2002.
The future
The company has, in spite of the insecure situation, a positive view of the future. Several interesting discussions are being held, and the demand for Secured Solutions is increasing.
The company therefore expects continued organic growth in 2002, complemented by a number of acquisitions.
The company also anticipates a positive profit level for 2002, although not at the same level as the previous year. This is expected to be accomplished during the latter part of the year.
The company sees no reason to change its long-term objective of a 30 % growth rate with a 10% margin, although the time frame for this is more insecure at present.
For further information please contact:
Mikael Jacobsson, CEO, Technology Nexus AB, +46 706 47 58 10, e-mail: mikael.jacobsson@nexus.se
Facts on Technology Nexus AB
Technology Nexus AB (publ.), listed on the O-list of the Stockholm Stock Exchange, has specialised in the development and supply of secured IT solutions to improve clients' profitability. Nexus works not only with end-clients, but also as a development partner for clients with very high quality requirements. Nexus' vision is to be a leading partner for secured solutions in the digital economy. Nexus has around 420 employees, with offices in Stockholm, Gothenburg, Uppsala, Linkoping (head office), Umea, Karlstad, Vasteras, Borlange, Hamburg, Paris, London, Madrid, and New Jersey. More information is available at www.nexus.se. E-mail: contact@nexus.se
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