Net Insight Interim Report January - March 2021 Growth on a continued cautious market
Net Insight posted continued growth in the first quarter 2021 and revenue up by 2.6% despite negative exchange rate effects. Adjusted for exchange rate effects, year-on-year growth was 11.6%. The divestment of ScheduALL, which was announced in the quarter, is an important step towards focusing the operations and achieving profitable growth. It is also encouraging that our sharper focus and accelerated R&D investments are yielding results and that we won important deals in the quarter.
Crister Fritzson, CEO of Net Insight
Significant events:
Divestment of ScheduALL
Promising results in innovation study of Net Insight's time synchronization technology in mobile networks
Important deals with Red Bee Media and NEP Connect
January - March 2021
Net sales amounted to SEK 77.9 (76.0) million, an increase of 2.6% year on-year. In comparable currencies net sales increased by 11.6%.
Operating earnings amounted to SEK 3.1 (4.8) million, corresponding to an operating margin of 4.0% (6.3%). Excluding foreign exchange rate differences of SEK 7.6 (9.2) million, operating earnings were SEK -4.4 (-4.4) million.
Net income for the period for the Group, including divested operations, was SEK -33.0 (248.4) million. This includes capital loss on disposal of discontinued operations of SEK -35.9 million (246.4). The effect on earnings from the disposal of discontinued operations deviates from the estimate communicated in connection with the announcement of the transaction. For more information, see section Divested operations in Extraordinary events .
Earnings per share, basic and diluted, for the Group was SEK -0.09 (0.65).
Total cash flow for the Group was SEK 14.1 million (245.4). Excluding the cash impact of the divestment of subsidiary, cash flow was SEK -1.0 million (-57.0).
For the complete 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 20, 2021
CEO Crister Fritzson and CFO Joakim Schedvins will present and comment on the interim report https://financialhearings.com/event/13314
For further information, please contact:
Crister Fritzson, CEO of Net Insight AB, +46 8 685 04 00, crister.fritzson@netinsight.net
About Net Insight
Net Insight (Nasdaq: NETI B) is defining new ways to deliver media, opening up opportunities for content owners, broadcasters, production companies, service providers and enterprises to produce and deliver the future of live sport, news and online content. The company is driving the transformation to IP, virtualization and cloud workflows and has built the market's most open and cloud-ready media delivery platform for contribution, distribution, live production, and orchestration.
For over 20 years the world's leading media brands have trusted Net Insight and the company is recognized for having set the benchmark for media transport. Now Net Insight is combining its broadcast heritage and R&D expertise with the deep IP knowledge gained from developing its own streaming solution to evolve Nimbra, its Emmy Award winning video transport solution, for the new media era. With a strong vision for the future of IP and cloud, Net Insight is helping the world's leading media brands to simply and cost-effectively produce and deliver content to viewers anywhere.
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 2021-04-20 08:45 CEST.
Attachments
Net Insight Interim Report Q1 2021
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Net Insight Interim Report January - March 2021 Growth on a continued cautious market
