STOCKHOLM, Sweden, Feb. 7, 2002 (PRIMEZONE) -- In 2001, Cyber Com's sales increased 11% to MSEK 396.2 (357.6). Operating income before goodwill write-offs was MSEK 21.0 (26.7), which yields a 5.3% (7.5) margin. The percentage of time that can be invoiced reached 75% (80) for all of 2001. Cyber Com's average hourly fee for the entire year was about 2% higher than in 2000.
"Since the company's start in 1995, our strategy to employ only experienced, highly competent consultants has been successful," says Mats Alders, Cyber Com's CEO. "Purchasers are getting pickier when selecting suppliers and are prepared to pay for quality. We're getting a lot more big, complex projects."
The company launched its international operations during 2001 -- starting in Denmark. Cyber Com acquired StreamIT in Sweden -- a company with 17 employees, which focuses on telecom and management. And frame agreements were signed with several of Cyber Com's largest customers. After year-end, the company reached an agreement with Stratum Project Management Ltd, a UK consulting operation that specialises in banking and finance.
Despite expenses related to the Danish operation and acquisition, Cyber Com stayed in the black this year -- with a positive cash flow worth MSEK 8.9 (4.6). At year-end, liquid assets, including current investments, reached MSEK 120.8 (111.9).
Q4 2001 sales reached MSEK 98.5 (101.3), which is 3% lower than the same period in 2000. Operating income before goodwill amortisation was MSEK 4.3 (5.4), which yields a 4.4% (5.3) margin. Q4 2001 capacity usage for the entire group was 71%. Q4 cash flow was positive MSEK 8.5.
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