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Enea Interim Report January - March 2009

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Weak results but continued strong cash flow

  • Net sales decreased by 5 percent to SEK 207.3 (218.6) million. Excluding the effect (SEK 7.0 million) of a changed accounting principle for royalties, the decrease was 2 percent.
  • Revenues for the business segment Products increased by 5 percent to SEK 87.5 (83.7) million excluding the effect of a changed accounting principle for royalties.
  • Revenues for the business segment Services decreased by 1 percent to SEK 145.3 (146.4) million.
  • Write-down of capitalized R&D costs by SEK 24.5 million following a strategic review of the product portfolio.
  • Operating profit decreased to SEK -36.7 (18.7) million, including non-recurring items amounting to
    SEK -31.4 million.
  • Net profit fell to SEK -25.2 (10.8) million, corresponding to SEK -1.40 (0.60) per share.
  • Cash flow from operations amounted to SEK 21.5 (5.3) million.
  • New President and CEO, Per Åkerberg, and new Chairman of the Board of Directors, Anders Lidbeck, took over on March 27.

    •  Events after the end of the period

  • New financial targets defined, requiring higher profitability.
  • Cost-cutting program within the business segment Products is carried out during the second quarter to decrease costs by SEK 50 million on an annual basis gaining full effect as of January 2010. Restructuring cost estimated to approximately SEK 8 million.
  • The Board of Directors has, based on the authorization by the annual general meeting 2009, resolved to repurchase own shares over the stock exchange.

    •  For the full report please view the enclosed PDF or visit www.enea.com.

    For more information, please contact

    Per Åkerberg, President and CEO, phone +46-8-507 140 00, e-mail per.akerberg@enea.com
    Carl Sköld, CFO, phone +46-8-507 140 00, e-mail carl.skold@enea.com

    About Enea
    Enea is a global software and services company focused on solutions for communication-driven products. With 40 years of experience Enea is a world leader in the development of software platforms with extreme demands on high-availability and performance. Enea's expertise in real-time operating systems and high availability middleware shortens development cycles, brings down product costs and increases system reliability. Enea's vertical solutions cover telecom handsets and infrastructure, medtech, automotive and mil/aero. Enea has offices in Europe, North America and Asia. Enea is listed on Nasdaq OMX Nordic Exchange Stockholm AB. For more information please visit enea.com or contact us at info@enea.com.

    Enea®, Enea OSE®, Netbricks®, Polyhedra® and Zealcore® are registered trademarks of Enea AB and its subsidiaries. Enea OSE®ck, Enea OSE® Epsilon, Enea® Element, Enea® Optima, Enea® Optima Log Analyzer, Enea® Black Box Recorder, Enea® LINX, Enea® Accelerator, Polyhedra® Flashlite, Enea® dSPEED Platform, Enea® System Manager, Accelerating Network Convergence(TM), Device Software Optimized(TM) and Embedded for Leaders(TM) are unregistered trademarks of Enea AB or its subsidiaries. Any other company, product or service names mentioned above are the registered or unregistered trademarks of their respective owner. © Enea AB 2009.

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