STOCKHOLM, Sweden, Aug. 28, 2002 (PRIMEZONE) -- Protect Data:
SECOND QUARTER
- Sales amounted to SEK 53.2 M (49.7) during the second quarter
and to SEK 95.9 M (110.0) for the period from January to June.
- The gross margin was 61% (52%) during the second quarter, while
the accumulated margin was 59% (47%). The margin improvement was
due to both a higher proportion of Pointsec sales and a higher
proportion of service revenues.
- The operating loss amounted to SEK 14.2 M (loss: 28.5) during
the second quarter, increasing the accumulated loss to
SEK 31.6 M (loss: 47.9). Close-down expenses amounting to
SEK 4.0 M (4.0) were charged against operating income during the
second quarter, resulting in accumulated expenses of SEK 4.0 M
(7.7). The steps are calculated to reduce the annually costs by
approximately M 20 SEK.
- The loss after net financial items amounted to SEK 12.7 M
(loss: 32.1) during the quarter, with a loss of SEK 29.0 M
(loss: 44.7) for the period from January to June.
- Liquidity, including unutilized overdraft facilities, amounted
to SEK 134 M (175) on June 30, 2002. Equity amounted to SEK 137 M
(175), resulting in an equity/assets ratio of 69% (74%).
IMPORTANT EVENTS DURING THE QUARTER
- Thomas Bill assumed the position of new president of Protect
Data AB on May 1.
- Additional orders for Protect Data's Internet banking solution
were received from Foreningssparbanken, Ostgota Ensilda Bank and
Lansforsakringar.
- Telia in Sweden and KMD (formerly Kommunedata) in Denmark
decided to include Pointsec in their outsourcing offering and at the
same time placed orders for additional licenses.
- Further rationalization measures were implemented during the
quarter in both the Solutions and the Pointsec business areas. In
total, including the disposal of the Slovakian company, personnel
have been reduced by 25% since the beginning of the year.
EVENTS AFTER THE CLOSING DATE
- Several major orders for Pointsec licenses were received from
such customers as Lansforsakringar in Sweden, the European
Investment Bank in Luxemburg and JD Edwards in the U.S.
- Protect Data is expanding its service offering and launching
digital sentry services.
- Kim Hyldig was appointed as new president of Protect Data AS in
Denmark as of August 1.
- Protect Data Slovakia s.r.o. was sold to the company's president in
July, following approval by an extraordinary general meeting held
July 18th.
- Peter Larsson was appointed as president of Pointsec Mobile
Technologies AB and Chief Operating Officer for the business area
Pointsec as of August 1.
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