Lund, 2015-03-19 08:00 CET (GLOBE NEWSWIRE) --
Doro will during the first quarter of 2015 incur an extra cost of about 20 MSEK due to insufficient currency hedging during a period of rapid and significant appreciation of USD versus the majority of the currencies in which Doro has its main revenue streams.
This extra cost will thus affect first quarter´s result. The hedging routines have been reviewed and the Company views the main part of the extra costs to be a non-recurring item.
Doro´s CEO Jerome Arnaud comments: “Sales and order intake have had a strong start in the first quarter of 2015. We estimate a sales increase, excluding acquisitions, of above 30 percent in the first quarter compared with the same period 2014. Continued cost reductions as well as price adjustments will be important tools in order to re-strengthen the gross margin in 2015. Furthermore, the acquisition of Caretech, consolidated from February, has developed according to plan. We therefore confirm our previously communicated outlook for the year: 2015 sales and profit for the group are expected to increase with the main part generated in the second half of the year.”
The Board proposes no payment of dividend for 2014. The company’s ambition is to retain a strong equity base also after the acquisition of Caretech for further expansion opportunities in the Care area in combination with continued good organic growth in the niche segment of senior mobile phones.
For more information, please contact:
President and CEO Jérôme Arnaud, +46 (0)46 280 50 05
CFO Christian Lindholm, +46 (0)46 280 50 06
About Doro
Doro AB is a Swedish public company formed in 1974. It released its pioneering ‘easy-to-use’ mobile phone in 2007 and today is the global market-leader within the category. Doro products and solutions are available in more than thirty countries spanning five continents. These include; mobile phones and smart devices, applications and software, fixed line telephony, telecare and mobile health solutions. Doro removes barriers to adoption of new technologies and holds numerous international awards in recognition of its product designs and innovations. Doro shares are quoted on the Nasdaq OMX Stockholm exchange, Nordic List, Small Companies. Net sales of SEK 1,277 million (EUR 135 million) were reported for 2014. www.doro.com
This is information that Doro AB (publ) is required to publish in accordance with the Swedish Securities Markets Act and/or the Swedish” Financial Trading Act. This information was submitted for publication on 19 March, 2015 at 08:00 a.m. CET.
