CONTINUED STRONG GROWTH AND INCREASED PROFITS
HiQ’s net sales for the period January to September 2011 amounted to SEK 923.9 (794.6) million, an increase of 16 percent compared with the same period last year. Operating profit for the first nine months increases with SEK 15.4 million compared to the same period last year. Operating profit (EBIT) was SEK 123.8 (108.4) million, an operating margin of 13.4 percent. Liquid assets amounted to SEK 133.9 (89.6) million.
“The third quarter has remained good for HiQ. We are starting exciting partnerships with new clients and strengthening our existing collaborations. HiQ is actively recruiting, has good cash flow and is in a sound financial position,” says President and CEO Lars Stugemo.
2011 is the year in which the mobile lifestyle takes off. Today we are connected at all times, giving us constant access to information, knowledge and our networks. HiQ simplify people´s lives by helping its clients create the best solutions in this modern communication society.
HiQ creates mobile services for banks, for example, that make it quicker and easier for the banks’ customers to do their banking on their smartphones. In the automotive industry HiQ acts as a strategic partner in the area of active safety and simplify for the driver which saves lives on our roads.
“HiQ is in a strong position with a good balance sheet, a broad market mix involving ten sectors, a well reputed brand and more than 15 years’ experience. With no borrowing against our balance sheet, strong cash flows and good liquidity, HiQ has great opportunities to further advance its position in the market. We prioritise quality, profitability and growth, in that order,” concludes Lars Stugemo.
HiQ’s President and CEO Lars Stugemo presents the report at 9.00 a.m. today, Thursday 20 October, at HiQ’s new offices at Regeringsgatan 20 in Stockholm.
The report can be requested by telephoning +46 8-588 90 000 or downloaded from www.hiq.se
HiQ discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. This press release was released for publication at 07:30 CET on 20 October 2011.
For further information, please contact:
Lars Stugemo, President and CEO of HiQ, tel.: +46 8 588 90 000
Fredrik Malm, CFO and Head of IR at HiQ, tel.: +46 704 200 017
HiQ is an IT and management consultancy company focusing on high-tech solutions in the fields of communications and software development. The company is a leading player in these fields and the Nordic region is its domestic market. HiQ employs nearly 1,300 people at offices in the Nordic region and Russia. HiQ is listed on NASDAQ OMX Stockholm Mid Cap. For more information, please visit www.hiq.se
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