Continuous growth and strong earnings
Our steady growth trend and progress in 5G synchronization continue, despite market uncertainties.
It was a strong start to the year, despite continuous challenges with component shortages and increased uncertainty in general due to the geopolitical situation. The growth is driven by strong sales across all regions, and by 5G synchronization sales. Revenue in Q1 amounted to SEK 109.7 million. Sales in the period increased 40.8% compared to the corresponding quarter in the previous year (in comparable currencies 32.9%).
Crister Fritzson, CEO Net Insight
January - March 2022
Net sales amounted to SEK 109.7 (77.9) million, an increase of 40.8% year-on-year. In comparable currencies net sales increased by 32.9%.
Operating earnings amounted to SEK 10.7 (3.1) million, corresponding to an operating margin of 9.7% (4.0%). Excluding foreign exchange rate differences of SEK 0.5 (7.6) million, operating earnings were SEK 10.2 (-4.6) million.
Net income for the period for continuing operations was SEK 8.2 (3.9) million and for the Group, including discontinued operations, SEK 8.2 (-33.0) million.
Earnings per share diluted for the Group was SEK 0.02 (-0.09).
Total cash flow for the Group was SEK -1.2 (14.1) million. Excluding the cash impact of the divestment of operations and repurchase of own shares, cash flow was SEK 35.5 (-1.0) million.
Q1 Highlights:
Strong sales across all regions
Strong earnings
Repurchase program finished
Component availability uncertain
For the complete interim report, please refer to the attached PDF.
A conference call with web presentation for media and the financial community will take place at 9:30 am CEST on April 29, 2022
CEO Crister Fritzson and CFO Joakim Schedvins will present and comment on the interim report: https://financialhearings.com/event/43519
For further information, please contact:
Crister Fritzson, CEO Net Insight AB, +46 8 685 04 00, crister.fritzson@netinsight.net
About Net Insight
Net Insight (Nasdaq: NETI B) provides the highest performing, most open video transport and media cloud technology for content providers as the industry standard for flexibility and service across live contribution, distribution and remote production media workflows.
For over 25 years, the world's leading content owners, broadcasters, production companies, service providers and enterprises have trusted Net Insight's Emmy Award winning Nimbra technology to guarantee media delivery. Today, Net Insight partners with hundreds of customers in over 70 countries to ensure media flows across managed and unmanaged IP networks, and the cloud - from anywhere, to everywhere. It enables customers to get the best from any mix of virtualized, cloud and IP technology and is as the only platform to support all the major industry standards, protocols and clouds.
For more information, please visit netinsight.net
Twitter: @NetInsight, twitter.com/NetInsight
LinkedIn: @Net Insight, www.linkedin.com/company/net-insight/
This information is information that Net Insight is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-04-29 07:30 CEST.
Attachments
Net Insight Interim Report Q1 2022
April 29th, 2022|
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Continuous growth and strong earnings
