Continued profitable growth driven by strong development in the media business
The strong earnings and growth in the quarter was attributed to the ongoing strong development in the media business, despite macroeconomic uncertainty. As expected, the revenue from time synchronization was slightly lower year-on-year, however the order book has increased during the quarter from SEK 160 million to over SEK 180 million.
“I am proud that our media business continues to perform well in a turbulent market. In addition, I see that our time synchronization solution can be an important advantage in a telecom market affected by macroeconomic uncertainty, as it implies lower costs for the telecom operators.”
Crister Fritzson, CEO Net Insight
July – September 2023
- Net sales amounted to SEK 144.0 (130.3) million, an increase of 10.5% year-on-year. In comparable currencies net sales increased by 5.9%.
- Operating earnings amounted to SEK 19.6 (27.3) million, corresponding to an operating margin of 13.6% (20.9%). Excluding foreign exchange rate differences of SEK -1.9 (0.5) million, operating earnings were SEK 21.5 (26.8) million.
- Net income for the period was SEK 16.2 (24.2) million.
- Earnings per share diluted was SEK 0.05 (0.07).
- Total cash was SEK -3.6 (-36.0) million. Excluding the cash impact from share-related transactions, the cash flow was SEK 18.5 (2.1) million.
January – September 2023
- Net sales amounted to SEK 396.9 (350.1) million, an increase of 13.4% year-on-year. In comparable currencies net sales increased by 7.2%.
- Operating earnings amounted to SEK 41.5 (47.3) million, corresponding to an operating margin of 10.4% (13.5%). Excluding foreign exchange rate differences of SEK -4.9 (0.9) million, operating earnings were SEK 46.4 (46.5) million.
- Net income for the period was SEK 37.5 (44.1) million.
- Earnings per share diluted was SEK 0.10 (0.12).
- Total cash was SEK -45.9 (-61.0) million. Excluding the cash impact from share-related transactions, the cash flow was SEK -10.6 (13.8) million.
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 CET on November 9, 2023
CEO Crister Fritzson and CFO Joakim Schedvins will present and comment on the interim report: https://ir.financialhearings.com/net-insight-q3-2023
For further information, please contact:
Crister Fritzson, CEO of Net Insight AB, 08-685 04 00, crister.fritzson@netinsight.net
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 the only platform to support all the major industry standards, protocols and clouds.
For more information, please visit netinsight.net
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