Stockholm, Sweden - 23 February 2012 - Transmode, a global supplier of packet
optical networking solutions, today Year- End Report 2011
October - December 2011
* Sales were SEK 246.4 (200.4) m, corresponding to an increase of 22.9% and by
24.2% adjusted for exchange rate fluctuations.
* Operating profit was SEK 44.8 (25.8) m and operating margin was 18.2%
(12.9%). Adjusted operating profit was SEK 45.2 (26.6) m and adjusted
operating margin was 18.3% (13.2%). The adjustment is for expenses of SEK
0.4 (0.8) m relating to Transmode's IPO on NASDAQ OMX Stockholm.
* Net profit was SEK 34.2 (19.7) m.
* Earnings per share after dilution were SEK 1.23 (0.77*).
* Cash flow from operating activities was SEK 88.5 (49.3) m.
* The company announced new contracts with upc cablecom of Switzerland and
Surf Telecom of the UK.
January - December 2011
* Sales were SEK 916.9 (699.3) m, corresponding to an increase of 31.1% and by
38.4% adjusted for exchange rate fluctuations.
* Operating profit was SEK 149.1 (107.6) m and operating margin was 16.3%
(15.4%). Adjusted operating profit was SEK 168.2 (108.4) m and adjusted
operating margin was 18.3% (15.5%). The adjustment is for expenses of SEK
19.1 (0.8) m relating to Transmode's IPO on NASDAQ OMX Stockholm.
* Net profit was SEK 116.3 (81.4) m.
* Earnings per share after dilution were SEK 4.26 (3.21*).
* Cash flow from operating activities was SEK 139.4 (133.6) m.
* After the end of the reporting period, the Board of Directors decided to
propose a dividend of SEK 1.50 per share.
* Earnings per share after dilution have been restated for 2010.
"A strong final quarter with a 23% year on year sales growth closes a fantastic
2011. For the full year, we have achieved our financial objectives with sales
growth of 38% in local currencies and an adjusted operating margin of 18%. To
the summary of 2011, we can also add the introduction of new innovative products
for Ethernet transport and 100Gbit/s per wavelength and new business in mobile
backhaul and video distribution networks. We also secured a number of new
accounts, conducted our IPO and relocated to new premises. Overall, 2011 was
another highly successful year for Transmode when we advanced our positioning. I
am looking forward to continuing to develop Transmode in 2012."
Karl Thedéen
Chief Executive Officer
The Year - End 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 press and analysts' conference (in English) at
Operaterassen, Stockholm, Sweden, for the media, investors and analysts on 23
February at 09:00 CET. Karl Thedéen, CEO and Tomas Kihlstrand, CFO will present
and comment on Transmode's Year-End Report.
Notifications of participation should be addressed to
hearings@financialhearings.com. The conference will also be streamed live on the
Internet at www.financialhearings.com and www.transmode.com. Participate in the
conference call on +46 (0)8 505 59875 or +44 (0)207 108 6303 a few minutes
before the scheduled start.
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 23(rd) February 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
onWavelength 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#1588372]
