Tilgin Interim report 1 January – 31 March 2009

Strong sales and improved result in the first quarter

First quarter 2009
• Net sales SEK 38.7 million (25.5), a 52 % increase compared with the corresponding period 2008
• Net result SEK -7.2 million (-14.0).
• Result per share from continuing activities SEK -0.16 (-0.59) before dilution
• Order intake SEK 31.8 million (58.7) and order backlog as of 31 March 2009 SEK 30.2 million (61.5)
• Gross margin 35 % (40 %)
• Operating result SEK -6.9 million (-14.2).
• Cash flow from operating activities SEK -3.2 million (-5.0)
• Cash and bank increased by SEK 5.6 million in the quarter to SEK 37.4 million (13.7) as of 31 March 2009

Other issues
• Tilgin has successfully focused on IP Home gateways including software for managing IP-based networks
• The organizational adjustment of seven administrative positions in the beginning of the year will have an effect on cost levels from the second quarter. The number of employees as per 31 March was 62
• The lower order volumes compared with the corresponding period in 2008 is explained by orders being placed later than normal, in the current financial climate. Several orders placed during the quarter are initial, with considerable future potential
• After end of quarter, the company received an order of approximately SEK 7 million from an incumbent in the Middle East


”Being a more focused company, Tilgin has increased its sales efforts in the Middle East and in Europe, and has launched a new product portfolio. This has already resulted in several new orders”, says Ola Berglund, CEO at Tilgin. “In the first quarter sales increased by 52 %, and the gross margin has exceeded 35 % in the last six consecutive quarters.”

― End ―

"Tilgin makes this information public in accordance with the Swedish Securities Exchange Act and/or in accordance with the Swedish Financial Supervisory Authority."

Phone conference:
In view of the interim report, the capital market is invited to a conference call on Tuesday 28 April. The conference will start at 09:00 CET. Participants may follow the conference via www.tilgin.com/q109, or access it by dialing +46 (0)8 5052 0110. A presentation is held available at www.tilgin.com when the phone conference starts.


To access the report in its full length, please click on the attached pdf-link.