STOCKHOLM, Sweden, Aug. 19, 2004 (PRIMEZONE) -- Protect Data:
SECOND QUARTER
-- Sales amounted to SEK 44.4 M (53.1)
-- Revenues from Pointsec operations amounted to SEK 28.2 M (30.6),
corresponding to 64% (58%) of total revenues
-- Gross profit amounted to SEK 36.0 M (40.8), resulting in a
gross margin of 81% (77%)
-- The profit after net financial items was a loss of SEK 0.6 M
(profit: 3.3)
REPORT PERIOD FROM JANUARY TO JUNE
-- Sales increased 17% to SEK 102.5 M (87.5)
-- Sales from Pointsec operations increased 51% to SEK 68.3 M
(45.2).
-- Gross profit amounted to SEK 84.0 M (64.3), resulting in a gross
margin of 82% (73%).
-- Profit after net financial items amounted to SEK 14.5 M
(loss: 3.1).
-- Profit after tax amounted to SEK 9.2 M (loss: 3.1).
-- Profit per share amounted to SEK 0.87 (loss: 0.29).
CEO THOMAS BILL'S COMMENTS:
Following two very strong quarters in terms of revenue and result, the second quarter of 2004 was somewhat weaker. In comparison with both the first quarter this year and the second quarter last year it should be considered that these quarters both included major orders of SEK 22 M and SEK 12 M, respectively. During the second quarter this year a number of major deals instead were postponed. It is clearly pleasing, however, that Pointsec achieved sales of SEK 28.2 without any major orders being signed. This reflects strong underlying growth in Pointsec sales.
The positive trend for Pointsec motivates continued, although cautious, expansion of the business area, resulting in somewhat higher costs. The goal is still that continued expansion of Pointsec should take place with retained profitability.
One of the most positive events during the quarter was that Pointsec's German subsidiary received its so far largest order, which was also delivered during the quarter. The customer is a world-leader in the financial industry, and the order totaled 4,000 Pointsec for PC licenses.
Compared with the beginning of the year, the Group's strong financial position was further strengthened by positive cash flow of more than SEK 30 M.
As mentioned above, second quarter sales were weaker due to delays in closing a number of deals. However, we anticipate signing several of these contracts during the third quarter, which means that this normally seasonally weak quarter is expected to be unusually strong. Pointsec sales are expected to be at least on par with the second quarter. This means that our assessment is retained that the full-year earnings for the Group will be significantly better than 2003.
Questions regarding this report will be answered by CEO Thomas Bill, tel: + 46-8-459 54 95, cell phone: + 46-70 542 62 71, e-mail: thomas.bill@protectdata.com
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http://www.waymaker.net/bitonline/2004/08/19/20040819BIT20020/wkr0001.pdf