Summary of third quarter
• Revenue increased by 80 percent and amounted to MSEK 24.3 (13.6).
• The EBITDA operating loss was halved compared to the same year-ago period
and amounts to MSEK -3.1 (-6.2).
• One-time costs related to new product launches were charged to earnings in an
amount of approximately MSEK 3, posted under Raw materials and supplies,
with a negative impact on the operating result and a temporary effect on the
gross Margin by about 12 percentage points.
• The cost-containment programme is progressing according to plan.
• The equity ratio stood at 58 percent at the end of the quarter (38).
Third quarter 2011
• Net revenue amounted to MSEK 24.3 (13.6).
• The EBITDA result amounted to MSEK -3.1 (-
6.2).
• The operating result amounted to MSEK -4.4 (-
8.0).
• The result after taxes was MSEK -4.6 (-8.4).
• Earnings per share amounted to MSEK -0.12 (-
1.29).
• Order bookings amounted to MSEK 20.9 (17.9).
• The gross Margin was 62 (75) percent.
January-September 2011
• Net revenue amounted to MSEK 63.2 (43.3).
• The EBITDA result amounted to MSEK -5.9 (-
16.1).
• The operating result amounted to MSEK -8.9 (-
21.5).
• The result after taxes was MSEK -9.7 (-18.6).
• Earnings per share amounted to MSEK -0.34 (-
4.27).
• Order bookings amounted to MSEK 57.6 (49.6).
• The order backlog was MSEK 16.5 (19.8).
• The gross Margin was 70 (75) percent.
President's statement
The improvement project on which we reported in
our second quarter report continued unabated. We
are seeing the results of this work in the form of a
substantial increase in sales and a halving of the
loss, despite one-time costs and current integration
costs being charged to earnings. Since we are
pleased with this development, even though things
could be happening faster, management and the
Board of Directors have decided to initiate more
forward-looking efforts for the Company to maintain
its rate of growth and increase its margins over a
more extended period. These efforts will be
manifested in the form of a business plan for 2012-
14, which will be implemented in parallel with the
ongoing improvement project.
Market development
Even though the third quarter by tradition is the
weakest in all of the Company's markets, we are
pleased to report that the improving market climate
mentioned in our second quarter report has
continued, with Asia as the primary growth engine.
There are reasons to believe that this trend will
continue into 2012.
Future
The third quarter results, current order bookings
and the market situation experienced by the
Company lends credence to the notion of a positive
operating result (EBITDA) and growth with improved
profitability for 2011. There are also reasons to
believe that the gross Margin will return to previously
achieved levels.
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