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Intoi under name change to IAR Systems Group AB publishes Annual Report 2010 in English
Intoi is being renamed to IAR Systems Group AB to reflect its focus on IAR Systems AB. Today the parent company is publishing its Annual Report for 2010 in English.
In 2010 Intoi’s subsidiary IAR Systems reached the new record level of net sales with SEK 177.9m. In local currency, sales were up by 19 per cent in the USA, 20 per cent in Europe and 28 per cent in Japan for the full year. Operating profit rose by 26 per cent to SEK 22.5m and operating margin improved to 13 per cent.
Towards the end of 2010, Intoi decided to focus on IAR Systems. As a consequence, Intoi divested Northern and distributed Deltaco to shareholders in April 2011. In May 2011, the Annual General Meeting decide to change Intoi ABs name into IAR Systems Group AB. When the change of name is registered with the Companies Registration Office, the company's ticker symbol will become "IAR".
IAR Systems is the world’s leading supplier of software tools for programming of chip in embedded systems. The software enables over 14 000 large and small companies to develop premium products based on 8-, 16-, and 32-bit microcontrollers, mainly in the areas of industrial automation, medical devices, consumer electronics, telecommunication and automotive products. IAR Systems has an extensive network of partners and cooperates with the world’s leading semiconductor vendors. IAR Systems is listed on NASDAQ OMX Stockholm via its owner Intoi AB. Intoi AB is being renamed IAR Systems Group. When the amendment is registered with the Companies Registration Office, the company's ticker symbol on the NASDAQ OMX will become IAR. For more information, please visit www.iarsystemsgroup.com