Tilgin Year-end report 2006

Fourth quarter 2006
• Net sales SEK 168.0 million (68.7), a 144 % increase compared with the fourth quarter 2005.
• Net result SEK 6.3 million (-34.1).
• Result per share SEK 0.33 (-5.41) before dilution.
• New customer business includes initial test orders (IPTV and IP residential gateway) through two global system integrators.
• Strong order intake combined with certain delays in deliveries from the third quarter provided a strong finish of 2006, both in terms of sales and profit.
• Gross margin 25 % (14 %), an improvement compared with the fourth quarter 2005 and also compared with the previous quarter.
• Operating result SEK 7.3 million (-33.6).
• Cash flow from operating activities SEK -43.0 million (2.4).
• Cash and bank SEK 92.3 million (70.6) as of 31 December 2006.


Full year 2006
• Net sales SEK 452.9 million (203.0), a 123 % increase compared with 2005.
• Net result SEK -34.4 million (-91.2).
• Result per share SEK -2.45 (-31.77) before dilution.
• Gross margin 22 % (12 %).
• Operating result SEK -31.0 million (-86.8).


Other issues
• In December the Tilgin share was listed on the Stockholm Stock Exchange. In connection with the listing, share issues of SEK 85 million prior to issue expenses, were concluded.
• Ola Berglund, former CEO of Enea, joined Tilgin in January 2007 as Chief Operating Officer.
• The company’s accounts receivable financing facility with Svenska Handelsbanken was increased to approximately SEK 101 million in November 2006.
• The previously communicated financial targets for 2006 were achieved, both with regard to sales and to the operating result.

Phone conference:
In view of the year-end report, the capital market is invited to a conference call on Thursday 22 February. The conference will start at 09:00 CET. Participants may follow the conference via Internet, website www.tilgin.com, or access it by dialing +46 (0)8 5052 0110. A presentation will be held available at the company’s web site.

Scheduled reports:
• The January-March 2007 interim report will be presented on 26 April 2007.
• The January-June 2007 interim report will be presented on 23 August 2007.
• The January-September 2007 interim report will be presented on 26 October 2007.

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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