STOCKHOLM, Sweden, Nov. 4, 2002 (PRIMEZONE) -- Sign On (Other OTC:SGONF):
Financial information January - September
- Net sales rose by 26 percent and amounted to SEK 17.7 million (14.0).
- Profit/loss was unchanged compared with the previous year SEK -22.6 million (-22.4).
- Liquid assets amounted to SEK 6.5 million (5.1)
Summary of third quarter
- Net sales rose by 17 percent and amounted to SEK 5.3 million (4.6).
- Profit/loss for the period amounted to SEK -8.7 million (-7.3).
- Measures have been begun to strengthen the company's liquidity.
- Sign On has obtained patents in Sweden and the UK for the FormPipe software.
- The municipality of Glostrup in Denmark has decided to use FormPipe.
- Low sales in the summer months have affected the results, but since mid-August the company has had full order books in the Forms Hotel/Forms Archive departments.
- Focus on selling FormPipe to authorities, municipalities and county councils in Sweden.
- Considerable interest in using FormPipe for eInvoicing from large companies
Events after the end of period
- Sign On acquires source code and rights to SignForm.
- Sign On acquires shares in SignForm Danmark A/S and SignForm Norge AS.
- A cost-cutting action programme has been initiated for the fourth quarter.
- Board member Franco Fedeli has been elected new Chairman by the Sign On Board. Goran Garvner remains on the Board and will specialise in sales and financing.
Contact person: Bosse Falgard, Chief Executive Officer, Sign On, Stockholm AB (publ) Svardvagen 3B, Box 22, 182 11 Danderyd, corp.id. no. 556431-0067 Tel: 08-555 290 00, 070-946 05 68, e-mail: bosse.falgard@signon.se
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http://www.waymaker.net/bitonline/2002/11/04/20021104BIT01280/wkr0001.doc The full report
http://www.waymaker.net/bitonline/2002/11/04/20021104BIT01280/wkr0002.pdf The full report