Transmode announces strong results in January – June Interim Report
Stockholm, Sweden – 20 July 2011 – Transmode, a global supplier of packet optical networking solutions, today announced the Interim Report for the period January to June 2011.
April – June 2011
· Sales were SEK 215.6 (184.8) m, corresponding to an increase of 16.7% and by 26.5% adjusted for currency effects.
· Operating profit was SEK 26.7 (30.4) m and operating margin was 12.4% (16.5%). Adjusted operating profit was SEK 37.1 (30.4) m and adjusted operating margin was 17.2% (16.5%), after adjustments for expenses of SEK 10.4 m attributable to Transmode’s IPO on NASDAQ OMX Stockholm.
· Net profit was SEK 22.2 (23.6) m.
· Earnings per share after dilution were SEK 0.81 (0.94*).
· Cash flow from operating activities was SEK 16.9 (-16.4) m.
January – June 2011
· Sales were SEK 396.7 (324.5) m, corresponding to an increase of 22.3% and by 33.3% adjusted for currency effects.
· Operating profit was SEK 34.9 (51.3) m and operating margin was 8.8% (15.8%). Adjusted operating profit was SEK 53.6 (51.3) m and adjusted operating margin was 13.5% (15.8%), after adjustments for expenses of SEK 18.7 m attributable to Transmode’s IPO on NASDAQ OMX Stockholm.
· Net profit was SEK 28.6 (39.6) m.
· Earnings per share after dilution were SEK 1.06 (1.57*).
· Cash flow from operating activities was SEK 19.5 (24.2) m.
* Earnings per share after dilution has been converted for 2010, see page 9 of the Interim report.
“Sales increased by nearly 17% in the second quarter year on year and by just over 26% adjusted for currency effects. Growth in the quarter was mainly driven by sustained strong trend in EMEA. Excluding the costs of the IPO, operating profit was just over SEK 37 m in the second quarter, corresponding to an operating margin of 17%. Our objectives to grow faster than the market with an operating margin of 12% or more over a business cycle remains. Overall, on the basis of a strong first half-year I am confident that we will meet these targets in 2011”.
Karl Thedéen, Transmode’s Chief Executive Officer.
The Interim Report along with historical quarterly data is also available on the Transmode website at www.transmode.com.
For more information please contact:
Ola Elmeland
Vice President Marketing & Communications
Transmode Systems AB
Telephone: +46 8 506 882 71
Email: ola.elmeland@transmode.com
Tomas Kihlstrand
Chief Financial Officer
Transmode Systems AB
Telephone: +46 8 527 675 53
Email: tomas.kihlstrand@transmode.com
About Transmode
Transmode is a global provider of packet-optical networking solutions that enable fixed line and mobile network operators to cost effectively address the capacity needs created by the rapid growth in video and data traffic. These solutions are important building blocks in next-generation high-speed optical networks that support services such as broadband backhaul, mobile data backhaul, video delivery services and cloud computing. Transmode’s solutions are based on Wavelength Division Multiplexing (WDM) and packet optical transport technologies, which are designed to increase the capacity, flexibility and functionality of optical metro core and metro access networks. Transmode’s Intelligent WDM (iWDM(TM)) approach gives key advantages to customers, such as ultra-low latency, low power consumption and innovative network design.
Transmode is headquartered in Stockholm, Sweden and is listed on the NASDAQ OMX Stockholm Exchange (TRMO). Since 2000 the company has installed more than 20,000 systems for over 300 fixed and mobile network operators, service providers, large enterprises and public institutions in over 40 countries across the globe.
For additional information about Transmode, please visit www.transmode.com.
