Growth and good profitability
Net sales in the second quarter amounted to SEK 282.5 (272.7) million and operating profit (EBIT) to SEK 34.2 (34.0) million, an operating margin of 12.1 percent. The cash flow from operations was SEK 9.3 million. Liquid assets amounted to 93.5 (75.3) million.
“The first half of 2010 was in general characterised by a satisfactory market for IT consulting services, with good demand for HiQ’s services. We have also recruited many new employees to HiQ,” says Lars Stugemo, President and CEO of HiQ.
“Today we are a significant player in the Nordic region with many good and well-run clients and committed and responsible consultants. Together we are perseveringly working in order to improve our operations further. For example the merger of our two Finnish companies to HiQ Finland, and initiatives to expand in the financial sector has been very successful. We are really happy for this,” says Lars Stugemo.
HiQ’s projects are about helping our clients to use communication and technology to simplify and improve their business. HiQ has been involved in developing systems, products and services for over 15 years. Clients include leading players in various segments such as the public sector, industry, telecoms, defence, gaming & entertainment and finance.
“The technology development and increased competition create opportunities for new types of enterprises and services. Areas such as media, multimedia, entertainment and the Internet evolve rapidly. These are exciting growth areas for HiQ,” says Lars Stugemo.
HiQ’s President and CEO Lars Stugemo presents the report at 9.00 a.m. today, Wednesday 18 August, at HiQ’s 9th floor offices at Mäster Samuelsgatan 17 in Stockholm.
The report can be requested by telephoning +46 (0)8-588 90 000 or downloaded from www.hiq.se
For further information, please contact:
Lars Stugemo, President and CEO HiQ, tel.: +46 (0)8-588 90 000
Katarina Bergegård, acting Head of Corporate Communications HiQ
tel.: +46 (0)8-588 90 015, +46 (0)701-06 06 06, Katarina.bergegard@hiq.se
HiQ is an IT and management consultancy company focusing on high-tech solutions in the fields of communication and software development. The company is a leading player in these fields and the Nordic region is its domestic market. HiQ employs more than 1,000 people at offices in the Nordic region and Russia. HiQ is listed on NASDAQ OMX Stockholm MidCap. For more information, please visit www.hiq.se
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