Tilgin iterim report 1 January – 30 September 2008

Interim report 1 January – 30 September 2008 - Tilgin AB (publ), Corp ID no. 556537-5812

Third quarter 2008
• Net sales SEK 59.1 million (89.9), a 44 % increase from previous quarter
• Net result SEK –2.6 million (-5.2), to be compared with SEK -17.3 million in the second quarter
• Result per share SEK –0.06 (-0.22) before dilution, to be compared with SEK -0.53 in the second quarter
• Order intake SEK 39.0 million (117.9) and order backlog as of 30 September 2008 SEK 60.3 million (107.0)
• Gross margin 42 % (28 %) which is a new all-time high for the company
• Operating result SEK –2.9 million (-4.8)
• Cash flow from operating activities SEK -24.3 million (-3.1), where accounts receivable increased by SEK 19.5 million, following large shipments to customers towards the end of the quarter
• Cash and bank SEK 34.4 million (40.2) as of 30 September 2008

First nine months of 2008
• Net sales SEK 131.4 million (273.6)
• Net result SEK –51.3 million (-46.4)
• Result per share SEK –1.52 (-1.94) before dilution
• Gross margin 39 % (21 %)
• Operating result SEK –51.4 million (-44.5)
• Cash flow from operating activities SEK -41.6 million (46.1)

Other issues
• 44 percent revenue growth since second quarter
• All-time high gross margin of 42 percent
• Several new strategically important customers during the quarter
• Cost savings program significantly better than planned
• Received large order of approximately SEK 12 million from leading Nordic operator, after quarter end.

”Net sales increased by 44 percent since the second quarter, and the gross margin amounted to 42 percent. With leading technology and strategic customers, we are now well-positioned as operators are initiating rollouts of IP services to the mass market.” says Ola Berglund, CEO at Tilgin.

― End ―

"Tilgin makes this information public in accordance with the Swedish Securities Exchange Act and/or in accordance with the Swedish Financial Supervisory Authority."

Phone conference:
In view of the interim report, the capital market is invited to a conference call on Friday 24 October. The conference will start at 11:00 CET. Participants may follow the conference via Internet, website www.tilgin.com/q308, or access it by dialing +46 (0)8 5052 0110. A presentation is held available at the company’s web site (www.tilgin.com) when the phone conference starts.

To access the report in its full length, please click on the attached pdf-link.

About Us

Tilgin has more than 20 years of experience and expertise within the broadband industry which has generated a strong client base and a broad international reach which has generated that Tilgin’s systems and solutions are deployed at more than 100 operators in more than 30 countries. Tilgin was founded in 1997 with headquarter located in Kista, Sweden.Since the start, Tilgin has worked with its own gateway software as part of an overall delivery of premium gateway solutions, but has since 2014 a separate and dedicated business unit focusing upon the specific standalone software. Tilgin is now taking the next step forward by launching Open HGA, an open and modular software based platform for IoT, Smart Home solutions and services. For more information around our new Open HGA platform, please visit www.tilgin.com


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