Interim report January - March 2009
Net Insight AB (publ), Corporate Reg. No. 556533-4397
January - March 2009
* Net sales amounted to SEK 60.4 million (64.7).
* Net income before tax increased by 63% to SEK 10.0 million
(6.2).
* Net income after tax increased by 17% to SEK 7.2 million
(6.2).
* Software license and support revenue increased by 24% to
SEK 16.9 million (13.6).
* Total cash flow amounted to SEK 20.9 million (-22.4).
* Net profit margin was 11.9 % (9.5).
* Earnings per share amounted to SEK 0.02 (0.02).
Despite the global market downturn we are able to report healthy
earnings and profitability for the first quarter. During the quarter
we have won new customers and our existing customer base has
continued to expand their Nimbra based networks. All in all, Net
Insight is well positioned for the future with a solid customer base,
strong offering and healthy financial position.
In the EMEA region substantial extensions to our customers' digital
terrestrial TV networks have been made, including a large and
important country in Eastern Europe. Rundfunk-Anstalt Südtirol
enhanced their North Italian network and we improved our market
position in Italy when Telespazio deployed a multiservice
contribution network based on our Nimbra platform.
Our European customer base, and the expansions they make to their
existing installed base, is a fundamental contributor to our
business. At the same time, this customer base invests in new
services and applications, which verify the flexibility and strong
multiservice capabilities of our Nimbra platform. An important win
for Net Insight during the first quarter was achieved when
TeliaSonera International Carrier chose to expand their Nimbra
network to support live sport broadcast transmissions of Sweden's
premier football league, Allsvenskan. Live event contribution
networks, have become an important application area and is one
example of how our customers can reap the full benefits of the Nimbra
solution.
During the first quarter, we continued our establishment in the
Middle East region in cooperation with partners and with our first
own participation at the region's major industry exhibition CabSat.
At the end of 2008 we won a first small order for a larger TV
distribution and media network in a country in Middle East and this
is a good stepping-stone for us to win further business in the
region.
We have a strong position in the market for high quality broadcast
and media networks in North America where our customer base has
continued to expand and upgrade their networks during the first
quarter. We are also establishing a foothold within the telco carrier
market and our enhanced IP/Ethernet transport and switching product
offering, which were recently introduced, is now in use for IPTV
distribution services.
We see new business opportunities in Latin America and we currently
are stepping up our market activities as part of our strategy to
expand geographically within our prioritized segments.
In the Asia Pacific region our market development continues with new
and existing partners adding value to our offering and expanding our
market reach. The 2008 Beijing Olympic Games created market traction
for Net Insight and paved the ground for some initial orders in the
region during the second part of 2008. This positive momentum
continued into the first quarter 2009 when we won another order for a
digital terrestrial TV and mobile TV network in Korea. However, we
also experience some of the effects of the global financial turmoil
that have affected sales during the first quarter.
The full report is available for download (pdf) below.
Stockholm, 13 May 2009
Fredrik Trägårdh
Chief Executive Officer
For more information, please contact:
Fredrik Trägårdh, CEO Net Insight AB
Tel.: +46 (0) 8-685 04 00, email: fredrik.tragardh@netinsight.net
Lars Kevsjö, CFO Net Insight AB
Tel.: +46 (0) 8-685 04 00, email: lars.kevsjo@netinsight.net
Net Insight AB
Net Insight AB (publ)Box 42093
126 14 Stockholm
Tel +46 (0) 8 685 04 00
www.netinsight.net
Corporate Reg. No. 556533-4397
