IAR Systems Group Year-end Report 2012

Net sales grew by 15% and operating profit up by 47%

The Board proposes a doubled dividend

  • Net sales of SEK 230,1m (200.4), of which SEK 59.5m (57.5) in the fourth quarter
  • Operating profit of SEK 35,2m (24.0), of which SEK 9.8m (7.7) in the fourth quarter
  • Profit before tax of SEK 35.1m (24.1), of which SEK 10.1m (7.7) in the fourth quarter
  • Cash flow from operating activities of SEK 38.3m (34.2), of which SEK 15.2m (13.3) in the fourth quarter
  • Net cash at year-end 2012 was SEK 49.3m (34.5)
  • Operating margin of 15.3% (12.0) for the full year and 16.5% (13.4) for the fourth quarter
  • Earnings per share before dilution and calculated on profit from continuing operations after current tax amounted to SEK 2.68 (1.96), of which SEK 0.72 (0.57) for the fourth quarter
  • In local currency, net sales for the period increased by 11% in the Americas, 12% in Europe and 19% in Asia compared to last year
  • The Swedish corporate tax rate has been lowered from 26.3% to 22.0%, Remeasurement of deferred tax assets was charged to profit for the year in an amount of SEK 11.5m, The book value of the remaining loss carryforwards is SEK 58.4m,
  • The Board intends to propose a dividend of SEK 2.00 (1.00) per share ahead of the Annual General Meeting on April 22, 2013

Key events during the year

  • IAR Systems opens sales office in Seoul, South Korea
  • IAR Systems’ debug probe I-jet delivered in all markets 
  • Sale of 300,000 treasury shares in May 2012 for a value of SEK 11.6m

“2012 can be summed up as the third consecutive year of growth in sales and profit. In 2013 we will continue to concentrate on enhancing our offering, focusing on the existing markets and meeting our financial targets”.
 -
Stefan Skarin, CEO of IAR Systems Group AB

Stefan Skarin, CEO, IAR Systems Group AB
email stefan.skarin@iar.com

About IAR Systems
IAR Systems is the world’s leading supplier of software tools for developing embedded systems
applications. The software enables over 14 000 large and small companies to develop premium
products based on 8-, 16-, and 32-bit microcontrollers, mainly in the areas of industrial automation,
medical devices, consumer electronics, telecommunication and automotive products. IAR Systems has
an extensive network of partners and cooperates with the world’s leading semiconductor vendors. IAR
Systems Group AB is listed on NASDAQ OMX Stockholm. For more information, please visit
www.iar.com

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About Us

Our customers build products of today and technology for future innovations. We are proud to be part of that. IAR Systems is the world’s leading independent provider of software for programming of processors in embedded systems. IAR Systems’ software is used by many of the world’s largest corporations, as well as thousands of small and medium-sized companies, mainly operating in industrial automation, medical technology, telecommunications, consumer electronics and the automotive industry. IAR Systems Group AB is listed on the Mid Cap list of Nasdaq Stockholm.

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