Quote from CEO Fredrik Tumegård:
"Weaker sales second quarter but strong positioning ahead of future business opportunities."
Significant events
- Order from Telekom Malaysia regarding solutions for Southeast Asian Games 2017
- Successful STCC event using live OTT technology in collaboration with Storyfire and Lagardère
- Net Insight's Board of Directors resolves to repurchase shares
Second Quarter 2017
- Net sales amounted to SEK 93.5 (132.3) million, a decrease of -29.3 percent year-on-year. The decrease in comparable currencies was -30.8 percent.
- Operating earnings amounted to SEK -21.5 (12.0) million, corresponding to an operating margin of -23.0 (9.0) percent. This is a departure from the press release of July 4, 2017 which indicated a range between SEK -25 million and SEK -30 million.
- Net financial items were positively affected by SEK 2.3 (-2.7) million for the revaluation of synthetic options. Net income was SEK -12.8 (5.7) million.
- Total cash flow was SEK -28.5 (-10.5) million.
January - June 2017
- Net sales amounted to SEK 203.9 (242.3) million, a decrease of -15.8 percent. Corresponding to a decrease of -18.4 percent in comparable currencies.
- Operating earnings amounted to SEK -14.1 (19.8) million, corresponding to an operating margin of -6.9 (8.2) percent.
- Net financial items were positively affected by SEK 8.4 (6.3) million for the revaluation of synthetic options. Net income was SEK -0.9 (19.7) million.
- Total cash flow was SEK -13.2 (1.3) million.
The full report for the second quarter of 2017 can be found on netinsight.net
For further information, please contact: Fredrik Tumegård, CEO of Net Insight AB, +46 8 685 04 00, fredrik.tumegard@netinsight.net Thomas Ahlerup, Acting Head of Investor Relations, +46 768 966 300, thomas.ahlerup@netinsight.net
This information is information that Net Insight AB 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 08.45 am CET on July 21, 2017.
About Net Insight
Net Insight's vision is to enable a live and interactive media experience for anyone on earth. Our aim is to lead progress and enable a global media marketplace where live content can be exchanged and interaction among TV audiences can take place in real-time. We want to create the media experience of the future, centered on content.
Net Insight delivers products, software and services for effective, high-quality media transport, coupled with the effective management of resources, all, which creates an enhanced TV experience. Net Insight's offerings span across the entire media spectrum, starting from TV cameras and TV studios, right through to the TV consumers. Our solutions benefit network operators, and TV and production companies, by lowering total cost of ownership, improving their workflow efficiencies and providing them with the ability to capture new business opportunities.
More than 500 world-class customers run mission critical media services using Net Insight's solutions, covering more than 60 countries worldwide. Net Insight is listed on Nasdaq Stockholm.
For more information, please visit netinsight.net
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