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IAR Systems Group AB (publ) Interim Report Jan-Sept 2013

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Highest profit of all time

Operating margin excluding insurance claim of 20.8%

July - September 2013

  • Net sales of SEK 54.9m (56.2)
  • Operating profit of SEK 15.4m (10.1)
  • Profit before tax of SEK 15.2m (9.7)
  • Operating margin of 28.1% (18.0). Excluding the effects of an insurance claim (see details below), operating margin was 20.8%
  • A stronger Swedish krona in 2013 compared to 2012 had a negative year-on-year impact of SEK 4.2m on sales and SEK 2.1m on operating profit

January - September 2013

  • Net sales of SEK 168.7m (170.6)
  • Operating profit of SEK 31.2m (25.4)
  • Profit before tax of SEK 31.1m (25.0)
  • Cash flow from operating activities of SEK 30.7m (23.1)
  • Net cash at the end of the quarter was SEK
    54.7m (45.0)
  • Operating margin of 18.5% (14.9).
    Excluding the effects of an insurance claim (see details below), operating margin was 16.1%
  • Earnings per share before dilution and after
    current tax amounted to SEK     2.45 (1.96)
  • Earnings per share amounted to SEK 2.02 (1.65) before dilution and SEK 1.86 (1.52) after dilution
  • A stronger Swedish krona in 2013 compared to 2012 had a negative year-on-year impact of SEK 11.6m on sales and SEK 6.5m on operating profit

Key events during the period

  • Launch of certified version of IAR Embedded
    Workbench for ARM processors
    • Launch of the debug probe I-scope
    • Charges have been filed against the former CEO of the American subsidiary due to financial irregularities. The insurance compensation for previously arising damages has had a positive net impact on earnings for 2013 of approximately SEK 4 million. See details under financial information.
    • Sale of 334,600 treasury shares in September for a combined value of SEK 12.3m

Stefan Skarin, CEO, IAR Systems Group AB
email stefan.skarin@iar.com

IAR Systems is the world’s leading supplier of software tools for developing embedded systems applications. The software enables over 19,000 large and small companies to develop premium products based on 8-, 16-, and 32-bit microcontrollers, mainly in the areas of industrial automation, medical devices, consumer electronics, telecommunication, and automotive products. IAR Systems has an extensive network of partners and cooperates with the world’s leading semiconductor vendors. IAR Systems Group AB is listed on NASDAQ OMX Stockholm. For more information, please visit www.iar.com

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