Tilgin Year-end Report 2008

Year-end report 2008
Tilgin AB (publ), Corp ID no. 556537-5812

Strong growth and maintained excellent gross margin in the fourth quarter
Fourth quarter 2008
• Net sales SEK 40.9 million (31.1), a 32 % increase compared with the corresponding period 2007
• Net result from continuing activities SEK -8.5 million (0.2). Excluding write-downs and expenses related to the IPTV divestment, net result was SEK -4.6 million (0.4)
• Result per share from continuing activities SEK -0.19 (-0.01) before dilution
• Order intake SEK 30.9 million (45.0) and order backlog as of 31 December 2008 SEK 35.6 million (34.7)
• Gross margin 36 % (40 %)
• Operating result SEK -6.6 million (-0.9). Excluding write-downs and expenses related to the IPTV divestment operating result was SEK -2.7 million (-0.7)
• Cash flow from operating activities SEK -8.8 million (6.5)
• Cash and bank SEK 31.7 million (34.0) as of 31 December 2008
• The company divested its IPTV business as per 1 December 2008, thereby reducing staff by 38 persons. After year-end an additional organizational adjustment was made, and seven administrative positions were discontinued

Full year 2008
• Net sales SEK 156.5 million (138.3), a 13 % increase compared with 2007
• Net result from continuing activities SEK -14.7 million (-7.2). Excluding write-downs and expenses related to the IPTV divestment, net result was SEK -9.4 million (-4.2)
• Result per share from continuing activities SEK -0.40 (-0.30) before dilution
• Order intake for the full year SEK 147.2 million (147.2)
• Gross margin 40 % (30 %)
• Operating result SEK -12.9 million (-6.4). Excluding write-downs and expenses related to the IPTV divestment operating result was SEK -7.6 million (-3.4)
• Cash flow from operating activities SEK -30.4 million (19.0)

Other issues
• The divestment of the company’s IPTV business means that Tilgin is now focusing on IP residential gateway
• 2008 brought satisfactory growth and a considerably strengthened gross margin

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"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 Friday 13 February. The conference will start at 09:00 CET. Participants may follow the conference via Internet, website www.tilgin.com/q408, or access it by dialing +46 (0)8 5052 0110. A presentation is held available at the company’s web site (www.tilgin.com) when the phone conference starts.


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