Tilgin Interim report 1 January - 31 March 2009

Tilgin Interim report 1 January - 31 March 2009

Strong sales and improved result in the first quarter

First quarter 2009
•  Net sales SEK 38.7 million (25.5), a 52 % increase compared with the
corresponding period 2008
•  Net result SEK -7.2 million (-14.0). 
•  Result per share from continuing activities SEK -0.16 (-0.59) before dilution
•  Order intake SEK 31.8 million (58.7) and order backlog as of 31 March 2009
SEK 30.2 million (61.5)
•  Gross margin 35 % (40 %)
•  Operating result SEK -6.9 million (-14.2).
•  Cash flow from operating activities SEK -3.2 million (-5.0)
•  Cash and bank increased by SEK 5.6 million in the quarter to SEK 37.4 million
(13.7) as of 31 March 2009

Other issues
•  Tilgin has successfully focused on IP Home gateways including software for
managing IP-based networks
•  The organizational adjustment of seven administrative positions in the
beginning of the year will have an effect on cost levels from the second
quarter. The number of employees as per 31 March was 62
•  The lower order volumes compared with the corresponding period in 2008 is
explained by orders being placed later than normal, in the current financial
climate. Several orders placed during the quarter are initial, with considerable
future potential
•  After end of quarter, the company received an order of approximately SEK 7
million from an incumbent in the Middle East


”Being a more focused company, Tilgin has increased its sales efforts in the
Middle East and in Europe, and has launched a new product portfolio. This has
already resulted in several new orders”, says Ola Berglund, CEO at Tilgin. “In
the first quarter sales increased by 52 %, and the gross margin has exceeded 35
% in the last six consecutive quarters.”


― End ― "Tilgin makes this information public in accordance with the Swedish Securities
Exchange Act and/or in accordance with the Swedish Financial Supervisory
Authority."

Phone conference:
In view of the interim report, the capital market is invited to a conference
call on Tuesday 28 April. The conference will start at 09:00 CET. Participants
may follow the conference via www.tilgin.com/q109, or access it by dialing +46
(0)8 5052 0110. A presentation is held available at www.tilgin.com when the
phone conference starts.


To access the report in its full length, please click on the attached pdf-link. 



For further information: 
Ola Berglund, CEO Tilgin 
Telephone: +46 739-618603 
E-mail: ola.berglund@tilgin.com

Tilgin designs and delivers premier IP customer premises equipment (CPE) for
advanced Triple Play and IMS-based services. Supporting the full convergence of
voice, video and data, Tilgin takes a network systems approach to CPE that
enables service providers to offer a broad range portfolio of innovative and
competitive broadband services. Tilgin's comprehensive product portfolio of IP
residential gateways and related management applications, offers service
providers unprecedented return on investment - delivering new service revenues
and impressive cost savings over the lifetime of the product. Tilgin was founded
in 1997 under the name i3 micro technology and listed on the Stockholm Stock
Exchange on the Nordic List as of December 2006. It is headquartered in Kista,
Sweden, with European sales representation in France and Germany.
www.tilgin.com.