- Net sales in the period amounted to MSEK 57 (59).
- The gross margin for the period was 73% (65) and the gross profit was MSEK 41 (39).
- Earnings before depreciations and amortizations (EBITDA) in the period was MSEK 2 (5).
- The result after tax for the period was MSEK -3 (1).
- Earnings per share before and after dilution for the first quarter was SEK -0,02 (0,01).
- The cash flow during the first quarter was MSEK -1 (-13).
Comments from the CEO
Ability to scale
In the first quarter we shipped the largest Business Solutions order in Anoto´s history to a single customer, Taiyo Life Insurance Company in Japan. The digital pen and paper solution was provided by our partner Dai Nippon Printing as part of a new solution together with Fujitsu Limited and IBM Japan Ltd. to improve customer service. The total contract was for 10,000 users
Total revenues in the period were MSEK 57 of which 77% came from Business Solutions. Gross margin was satisfactory at 73%.
Anoto’s business through strategic partnerships such as Vodafone in the UK continues to grow and is delivering an increased pipeline in large organizations including National Health Service (NHS), Central Government and the service industry.Three of our partners were selected as approved suppliers for a National Framework Agreement for the NHS. This will enable NHS trusts to procure solutions from these partners without the need to go to tender. Destiny Wireless started deployment of a digital pen solution for midwives with NHS Great Western Hospitals, integrating pen data with their Medway software provided by System C.
Sales within interactive whiteboards and education as well as C Technologies were lower than expected.
The ADP601 is ready for mass production starting early in the second quarter and our partner TStudy is now preparing for sales of their interactive classroom solution in larger deals, primarily in Asia. Our other partners within the education segment have indicated that despite a slow start sales will increase in the coming quarters.
In first quarter we strengthened our management team by hiring Dennis Ladd as Chief Strategy Officer. Dennis has spent over 25 years in enterprise software as an architect at SAP, as well as CTO and later CEO of Streamserve (merged with enterprise content management leader OpenText). He will be responsible for Anoto´s portfolio of products and strategic alliances within Business Solutions.
Our product development continues according to plan to focus on meeting end user needs and to package solutions that addresses document workflow and mobile data capture. We also see an increasing interest in digital pen and paper with regards to digital signature, secure ID and document traceability.
Outlook
We expect sales to improve in all business areas in the coming quarter, C Technologies expects larger shipments in the second quarter. Anoto’s cash position will be sufficient to support our business in the coming year.
To read the entire report, please see attached document.
A webcast of the Q1 report will be available from 09.00 on April 27.
A Q&A session via audiocast will be held at 11.00 the same day. For more information, see www.anoto.com/investors.
Anoto Group AB may be required to disclose the information provided herein pursuant to the Securities Markets Act. The information was submitted for publication at 08.30 on April 27, 2012.
For more information, please contact:
Stein Revelsby, CEO
Phone: +46 (0)733 45 12 05
or
Dan Wahrenberg, CFO
Phone: +46 (0)733 45 10 19
Anoto Group AB (publ.), Corp. Id. No. 556532-3929
Box 4106,
SE-227 22 Lund, Sweden
Phone: +46 46 540 12 00
