January - March 2012
* Sales were SEK 235.2 (181.1) m, corresponding to an increase of 29.9% and
28.7% adjusted for exchange rate fluctuations.
* Operating profit was SEK 39.5 (8.2) m and operating margin was 16.8% (4.5%).
Adjusted operating profit for the first quarter 2011 was SEK 16.5 m and
adjusted operating margin was 9.1%. The adjustment in 2011 was for expenses
of SEK 8.3 m relating to Transmode's IPO on NASDAQ OMX Stockholm.
* Net profit was SEK 31.2 (6.4) m.
* Earnings per share after dilution were SEK 1.12 (0.24*).
* Cash flow from operating activities was SEK 30.9 (2.6) m.
* The company announced new contracts in the quarter with FMV (the Swedish
Defence Materiel Administration) and Virgin Media of the UK.
* Transmode launched new products to support flexible optical networking
* Earnings per share after dilution have been restated for the period January-
March 2011.
CEO's Statement: Transmode's Profitable Growth Continues
"Sales increased to SEK 235 m in the first quarter of the year, up 30% on the
corresponding quarter of the previous year. We are growing in all three regions,
and growth was especially high in the Americas. This growth is a result of
continued positive progress in North and Latin America. In total, the group
posted operating profit of SEK 40 m in the quarter, corresponding to an
operating margin of 17%. This healthy operating profit was driven by revenue
gains, a gross margin of 49% and continued operational efficiency. In the
quarter, we also launched new products that help increase the flexibility of
optical networks. This is an important area for our customers, and the contracts
announced in the quarter with Virgin Media and FMV (the Swedish Defence Materiel
Administration) are examples that relate to flexible optical networks."
Karl Thedéen
Chief Executive Officer
The Interim Report is attached and available via the link at the end of this
press release.
Invitation to press and analysts conference
Transmode Holding AB will hold a conference call (in English) for the media,
investors and analysts on 26 April at 09:00 CEST where our CEO Karl Thedéen, and
CFO Tomas Kihlstrand, will present and comment on Transmode's Interim Report.
Participate in the conference call on +44 (0) 20 3003 2666, or the Swedish
number +46 (0)8 505 20424, stating "Transmode conference call" a few minutes
before the scheduled start. The conference and presentation will also be
streamed live on Transmode's website: http://www.transmode.com/en/interim-
reports/interim-reports.
The Interim Report along with historical quarterly data is also available on the
Transmode website at www.transmode.com.
The information in this announcement is required to be disclosed by Transmode
Holding AB under the Swedish Securities Markets Act (Sw. lagen om
värdepappersmarknaden). This information was released for publication at 08:00
AM CEST on 26 April 2012.
For more information please contact:
Ola Elmeland
Vice President Marketing & Communications
Transmode Systems AB
Telephone: +46 8 506 882 71
Email: ola.elmeland@transmode.com
About Transmode
Transmode is a global provider of packet-optical networking solutions that
enable fixed line and mobile network operators to cost effectively address the
capacity needs created by the rapid growth in video and data traffic. These
solutions are important building blocks in next-generation high-speed optical
networks that support services such as broadband backhaul, mobile data backhaul,
video delivery services and cloud computing. Transmode's solutions are based on
Wavelength Division Multiplexing (WDM) and packet optical transport
technologies, which are designed to increase the capacity, flexibility and
functionality of optical metro core and metro access networks. Transmode's
Intelligent WDM (iWDM(TM)) approach gives key advantages to customers, such as
ultra-low latency, low power consumption and innovative network design.
Transmode is headquartered in Stockholm, Sweden and is listed on the NASDAQ OMX
Stockholm Exchange (TRMO). Since 2000 the company has installed more than
30,000 systems for over 400 fixed and mobile network operators, service
providers, large enterprises and public institutions in over 40 countries across
the globe.
For additional information about Transmode, please visit www.transmode.com.
[HUG#1606074]
