IAR Systems Group AB (Publ) Interim Report Jan-Sept 2012

Best quarterly profit of all time and operating margin of 18%

"In the fourth quarter,  we will continue our focus on marketing activities with key trade shows in the U.S. and Japan, and a selected major product launches. In terms of sales, we continue our focus in refining our offering to fit our larger customers and to better utilize our larger sales organization.”  - Stefan Skarin, CEO,  IAR Systems Group AB.

• Net sales of SEK 170.6m (142.9), of which SEK 56.2m (48.2) for the third quarter
• Operating profit of SEK 25.4m (16,3), of which SEK 10.1m (7.1) for the third quarter
• Profit before tax of SEK 25.0m (16.4), of which SEK 9.7m (7.4) for the third quarter
• The period’s cash flow from operating activities was SEK 23.1m (20.9) and net cash at the end of the quarter totaled SEK 45.0m (41.3)
• Operating margin of 14.9% (11.4) for the period and 18.0% (14.7) for the third quarter
• Earnings per share before dilution and calculated on profit from continuing operations after current tax amounted to SEK 1.96 (1.39), of which SEK 0.77 (0.62) for the third quarter
• In local currency, net sales for the period increased by 19% in the USA, 16% in Europe and 21% in Asia compared to the same period of last year

Key events during the period

• IAR Systems opens sales office in Seoul, South Korea
• IAR Systems’ debug probe I-jet delivered in all markets 
• Sale of 300,000 treasury shares in May 2012 for a value of SEK 11.6m