Growth in 20 consecutive quarters
Net sales for the period of SEK 282m and EBITDA of SEK 102m
Operating margin of 30% and cash flow of SEK 59m
›› Net sales of SEK 282.4m (257.4)
›› Sales growth in local currency of 10%
›› EBITDA of SEK 102.5m (95.3), corresponding to an EBITDA margin of 36.3% (37.0)
›› Operating profit of SEK 84.5m (80.6), corresponding to an operating margin of 29.9% (31.3) Operating
profit was charged with acquisition expenses of SEK 3.2m
›› Profit before tax of SEK 82.1m (79.3)
›› Basic earnings per share of SEK 5.02 (4.77) and diluted earnings per share of SEK 5.01 (4.77)
›› Cash flow from operating activities of SEK 59.2m (90.6)
›› Net cash of SEK 88.6m (87.3) at the end of the period
›› Net sales of SEK 97.9m (84.2)
›› Sales growth in local currency of 7%.
›› EBITDA of SEK 37.8m (33.8), corresponding to an EBITDA margin of 38.6% (40.1)
›› Operating profit of SEK 31.3m (28.6), corresponding to an operating margin of 32.0% (34.0)
›› Profit before tax of SEK 31.0m (28.2)
›› Basic earnings per share of SEK 1.97 (1.61) and diluted earnings per share of SEK 1.96 (1.61)
›› Cash flow from operating activities of SEK 14.9m (31.8)
KEY EVENTS DURING THE PERIOD
›› A private placement was implemented of 812,000 new class B shares, generating a gain for the company
of SEK 175.1m after issue expenses.
›› IAR Systems acquired Secure Thingz and conducted a non-cash issue. See also Note 7 “Acquisition of Secure Thingz.”
›› The Extraordinary General Meeting on June 15 voted to introduce a long-term incentive scheme for employees. The Meeting also voted in line with the Board’s proposal concerning the exchange of warrants for employees in conjunction with the acquisition of Secure Thingz Inc.
IAR Systems supplies future-proof software tools and services for embedded development, enabling companies worldwide to create the products of today and the innovations of tomorrow. Since 1983, IAR Systems’ solutions have ensured quality, reliability and efficiency in the development of over one million embedded applications. The company is headquartered in Uppsala, Sweden and has sales and support offices all over the world. IAR Systems Group AB is listed on NASDAQ OMX Stockholm, Mid Cap. Learn more at www.iar.com.
Stefan Skarin, CEO, IAR Systems Group AB