Nocom reports powerful growth and improved profitability for the first quarter of the year. The new and bigger Nocom Group has got off to an excellent start in 2006. Net sales have risen sharply – primarily through the past year’s acquisitions but also thanks to impressive performance in the market. First quarter sales reached was 211.8 million and organic growth was 43 percent. Parallel to this, Nocom has strengthened its profitability – turning the past year’s negative first quarter earnings into an operating surplus of over SEK 15 million.
The company’s financial position is also very solid. All operations are generating positive cash flows and the Group’s cash and cash equivalents at March 31 amounted to SEK 100 million.
” We have entered 2006 as a sound and dynamic IT group and can now look back on a successful quarter. Nocom has never been stronger nor had such enormous long-term potential,” says Stefan Skarin, President and CEO of Nocom. ”Stable profitability will remain our top priority – at the same time that we step up the pace of strategic development in the Group.”
Excerpts from the report:
January – March 2006:
• Net sales amounted to SEK 211.8 (60.5) million.
• Operating profit was SEK 15.4 (-2.9) million.
• Profit after financial items was SEK 15.3 (-3.1) million.
• Profit after tax totaled SEK 10.7 (-3.2) million.
• Cash flow from operating activities was SEK 17.9 (-2.9) million.
• Available cash and cash equivalents amounted to SEK 129.7 (130.3) million.
• Equity at March 31 is reported at SEK 460.1 (327.5) million.
• Equity per share at March 31 was SEK 4.61 (3.82).
For additional information contact:
Stefan Skarin President and CEO, Nocom
mobile: +46 708 – 65 10 05
Stefan Ström CFO, Nocom
mobile: +46 708 – 65 10 68