Strategic order in 5G synchronization
“Positive trend for our cloud solution Nimbra Edge with two new deals and increased usage by our existing customers.”
The steady demand we saw at the beginning of the year has continued into this quarter and we once again report both growth and improved results. We have received a key order from the telecommunications operator Three Sweden for time synchronization of their 5G network and we have secured several important deals of Nimbra Edge, which strengthens our market position. We have high service reliability despite the continued tight component situation and have successfully met customer demand.
Crister Fritzson, CEO Net Insight
April – June 2022
- Net sales amounted to SEK 110.1 (94.1) million, an increase of 17.1% year-on-year. In comparable currencies net sales increased by 8.8%.
- Operating earnings amounted to SEK 9.4 (8.6) million, corresponding to an operating margin of 8.5% (9.1%). Excluding foreign exchange rate differences of SEK -0.2 (7.8) million, operating earnings were SEK 9.5 (7.8) million.
- Net income for the period was SEK 11.8 (7.0) million.
- Earnings per share diluted was SEK 0.03 (0.02).
- Total cash flow for the Group was SEK -23.8 (16.7) million.
January – June 2022
- Net sales amounted to SEK 219.8 (172.0) million, an increase of 27.8% year-on-year. In comparable currencies net sales increased by 19.7%.
- Operating earnings amounted to SEK 20.1 (11.7) million, corresponding to an operating margin of 9.1% (6.8%). Excluding foreign exchange rate differences of SEK 0.4 (8.4) million, operating earnings were SEK 19.7 (3.3) million.
- Net income for the period was SEK 19.9 (10.9). Including discontinued operations, net income for the period was SEK 19.9 (-26.1).
- Earnings per share diluted was SEK 0.05 (0.03). Including discontinued operations, earnings per share diluted was SEK 0.05 (-0.07).
- Total cash flow, including discontinued operations, was SEK -25.0 (30.8) million. Excluding the cash impact of the divestment of operations and repurchase of own shares, cash flow was SEK 11.7 (15.7) million.
Q2 in brief:
- Strategic order in 5G synchronization
- Increased license sales of Nimbra Edge
- High delivery level in the face of challenging component situation
Events after the quarter:
- Decision to initiate repurchase of own shares
For the complete interim report, please refer to the attached PDF.
A web presentation for media and the financial community will take place at 9:30 am CEST on July 20, 2022
CEO Crister Fritzson and CFO Joakim Schedvins will present and comment on the interim report: https://financialhearings.com/event/43518
For further information, please contact:
Crister Fritzson, CEO Net Insight AB, +46 8 685 04 00, firstname.lastname@example.org
About Net Insight
Net Insight (NASDAQ: NETI B) provides the highest performing, most open video transport and media cloud technology for content providers as the industry standard for flexibility and service across live contribution, distribution and remote production media workflows.
For over 25 years, the world’s leading content owners, broadcasters, production companies, service providers and enterprises have trusted Net Insight’s Emmy® Award winning Nimbra technology to guarantee media delivery. Today, Net Insight partners with hundreds of customers in over 70 countries to ensure media flows across managed and unmanaged IP networks, and the cloud – from anywhere, to everywhere. It enables customers to get the best from any mix of virtualized, cloud and IP technology and is as the only platform to support all the major industry standards, protocols and clouds.
For more information, please visit netinsight.net