Transmode AB: Year-end Report 2013
Stockholm, Sweden - 5 February 2014
* Sales were SEK 223.3 (251.2) m, corresponding to a decrease of 11.1%, or
11.2% adjusted for exchange rate fluctuations.
* Operating profit was SEK 9.3 (37.1) m, corresponding to an operating margin
of 4.2% (14.8%).
* Net profit was SEK 10.9 (35.2) m.
* Earnings per share after dilution were SEK 0.39 (1.27).
* Cash flow from operating activities was SEK 71.7 (70.8) m.
* Sales were SEK 1,029.1 (1,010.9) m, which corresponds to an increase of
1.8%, or 4.7% adjusted for exchange rate fluctuations.
* Operating profit was SEK 148.5 (170.7) m, which corresponds to an operating
margin of 14.4% (16.9%).
* Net profit was SEK 123.3 (139.2) m.
* Earnings per share after dilution were SEK 4.44 (5.01).
* Cash flow from operating activities was SEK 174.7 (176.7) m.
* The Board of Directors has decided to propose an ordinary dividend of SEK
1.80 (1.80) per share to the AGM, and against the background of the
company's strong cash position, an extra dividend of SEK 4.70 (-) per share,
or a total dividend of SEK 6.50 (1.80) per share.
CEO's Statement: Transmode is well-positioned for continued profitable growth
The fourth quarter was affected by late orders that we were unable to deliver
and recognize as revenue in 2013. Sales were SEK 223 m, an 11% decrease on the
fourth quarter 2012. Our gross margin and cash flow remained high, but the sales
decrease affected operating margin for the quarter, which was 4%.
We are continuing to invest in growth, primarily in product development and
sales. The combination of expanded sales resources and an effective regional
sales organization is creating better prospects to exploit growth opportunities
I'm pleased by the good profitability in 2013 and strong cash flow, but I'm not
satisfied with our growth. However, the investments and successes we achieved in
the year make us well positioned for continued profitable growth in 2014, and
I'm still very confident about our growth strategy with its focus on
geographical expansion, developing innovative products and efficient operations.
Karl ThedÃ©en, CEO, Transmode
The Year-end Report is attached and available via the link at the end of this
The information in this announcement is required to be disclosed by Transmode AB
under the Swedish Securities Markets Act (Sw. lagen om vÃ¤rdepappersmarknaden).
This information was released for publication at 08:00 AM CET on 5 February
This is a translation of the Swedish original. In case of any inconsistency
between the Swedish and English version, the Swedish version shall prevail.
Invitation to press and analysts conference
Transmode AB will hold a conference call (in English) for the media, investors
and analysts on 5 February at 09:00 AM CET where CEO Karl ThedÃ©en, and CFO Johan
Wilsby, will present and comment on Transmode's Year-end Report.
To access the telephone conference, please call UK +44 (0)207 6602077
alternatively, call the Swedish number +46 (0)8 50556484 and state that you are
joining the "Transmode conference call" a few minutes before the scheduled
start. The conference and presentation can also be followed live online, see
Transmode's homepage: Â http://www.transmode.com/en/investors/reports/interim-
For more information please contact:
Vice President Marketing & Communications
Transmode Systems AB
Telephone: +46 8 506 882 71
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 designed
to increase the capacity, flexibility and functionality of metro and regional
networks and are based on Wavelength Division Multiplexing (WDM) and transport
technologies such as Ethernet. Transmode's Native Packet Optical 2.0
architecture gives customers key advantages such as cost efficient Ethernet
services, ultra-low latency, low power consumption and future proof network
Transmode is headquartered in Stockholm, Sweden and is listed on the NASDAQ OMX
Stockholm Exchange (TRMO). Since 2000 the company has installed more than
40,000 systems for over 500 fixed and mobile network operators, service
providers, large enterprises and public institutions in over 45 countries across
For additional information about Transmode, please visit www.transmode.com.
Year-end Report 2013:
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Source: Transmode via GlobeNewswire