GlobeNewswire

MSAB: Continued investment for growth

Share

January - June

  • Net sales increased 1.6 percent to SEK 130.4 (128.3) million (-4 percent in local currencies).
  • EBIT amounted to SEK -17.1 (3.8) million.
  • The EBIT margin was -13.1 (3.0) percent.
  • Profit after tax amounted to SEK -15.3 (5.7) million.
  • Earnings per share amounted to SEK -0.83 (0.31).
  • Cash flow from operating activities amounted to SEK -6.2 (-11.1) million.
  • Cash and cash equivalents and short-term investments amounted to SEK 52.5 (80.4) million at the end of the period.

Second quarter

  • Net sales increased 1.7 percent to SEK 64.1 (63.0) million (-4 percent in local currencies).
  • EBIT amounted to SEK -11.4 (0.1) million.
  • The EBIT margin was -17.8 (0.2) percent.
  • Profit after tax amounted to SEK -10.8 (1.3) million.
  • Earnings per share amounted to SEK -0.58 (0.07).
  • Cash flow from operating activities amounted to SEK 0.7 (-11.4) million.

Comments from the CEO


Sales amounted to SEK 130.4 (128.3) million for the first six months of the year. EBIT came in at SEK -17.1 (3.8) million, the decline in profit resulting from a decrease in new sales, combined with continued investments within product development and marketing with the aim of generating future growth. For the second quarter, sales reached SEK 64.1 (63.0) million.

Growth for the first half of 2019 is not to my satisfaction. The market for mobile forensics carries significantly greater potential than what is visible in our numbers. Income from license renewals continues to grow, which demonstrates that our existing customers are satisfied with the systems they have invested in. My dissatisfaction lies primarily with new sales.

Our greatest growth potential lies in the decentralised solutions which we call Frontline. Decentralised solutions mean that police, who currently seize suspects’ mobile phones and send them elsewhere for analysis, can instead easily extract data themselves from the phones. In this way, they can quickly take advantage of important information, thereby solving and preventing crime more effectively. One of the reasons that new sales of these systems is lagging is that they entail a whole new way of working for the police. Changing ways of working takes time in large organisations. Nevertheless, the vast majority of customers realise the enormous benefits of decentralisation, but it takes time to decide where the responsibility for these solutions should lie.

I can also report that those customers that have invested in and have experience with our Frontline solutions are very satisfied. In my assessment, MSAB is the company that has delivered the greatest number of decentralised solutions world-wide. We have however seen a trend towards more aggressive price-setting from competitors to win these deals.

We have customers who have been using our systems for many years, and some customers extract data from up to 700 phones per day with XRY. This means that XRY handles extremely large amounts of information every day, and this makes an enormous difference in creating a safer and more secure society.

We continuously develop our product portfolio. Most recently, we released a new version of XRY, that extracts more data in a shorter time and with a significantly improved user experience. Besides offering a strong concept for extracting information from mobile phones, we even have tools for efficient analysis of data from mobile phones through our XAMN products. Thanks to our unique way of sorting data immediately as the mobile phone is being read, in combination with smart AI functions, our products can also analyse vast quantities of data in a short time. With high precision, we can present data relevant to the criminal investigation that the investigator is working on in the moment.

During the third quarter, the company will also carry out some process- and organizational changes in order to strengthen our product offering and intensify our marketing activities. The purpose of these changes is to increase growth and profitability of the company.

MSAB is a company on a market with all the prerequisites for growth and healthy profitability. 

Stockholm, July 2019

Joel Bollö

Chief Executive Director

The information in this report is such that MSAB, Corporate ID number 556244-3050, is required to disclose in accordance with the EU’s Market Abuse Regulation. The information in this report was submitted for publication on 19 July, 2019 at 08:00 CEST through the offices of the contact person listed below.

Questions should be addressed to:
Chief Executive Officer Joel Bollö
Tel. +46 8 739 0270
Email: joel.bollo@msab

MSAB in brief
MSAB is a world leader in mobile forensics technology with the aim of extracting and analysing data from confiscated mobile devices, mainly from mobile phones. The Company has its own sales offices and sales representatives in Europe, North America, South America, China, Australia, Singapore, Japan and Russia, and together with a number of distributors, covers most of the world. The proprietary products have become a de facto standard in the field and are used for securing evidence in more than 100 countries. These products are complemented by a wide range of training courses with the possibility of becoming certified in a forensically sound methodology. Customers are primarily law enforcement agencies, such as police, military and customs. MSAB is listed on NASDAQ Stockholm under the ticker symbol: MSAB B.

Attachment

About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

SERSTECH AB: Serstech receives EU funding for CBRN project14.8.2020 12:00:00 CESTPress release

A consortium of public and private organizations, of which Serstech is part, has been granted funding from the European Commission. The project aims to develop technologies, based on Raman and SERS (Surface Enhanced Raman Spectroscopy), to detect and identify chemical warfare agents and toxic industrial compounds in liquid and gas form. Serstech will supply modified Raman devices as part of the project. In August, Serstech will receive the initial payment of approximately 2 MSEK and will receive another 2 MSEK over the project period, which extends over three and a half years. The consortium includes several European universities and the Swedish Defence Research Agency (FOI). The project aims to provide a solution for first responders and CBRN (Chemical, Biological, Radiological, Nuclear) specialists to detect hazards in their everyday work. The solution will use Raman technology from Serstech and include both mobile and fixed detection capabilities. Important success factors in the pr

Transfer of Aspo Plc treasury shares14.8.2020 12:00:00 CESTPress release

Aspo Plc Stock Exchange Release August 14, 2020 at 13 p.m. Transfer of Aspo Plc treasury shares Aspo Plc has transferred 5,000 treasury shares on the basis of the Restricted Share Plan 2020. The transfer is based on the authorization given by the Annual Shareholders’ Meeting on May 4, 2020. The shares have been transferred according to the terms of Restricted Share Plan 2020 without compensation. After the transfer, Aspo Plc holds a total of 161 650 treasury shares. Aspo announced the Restricted Share Plan 2020 in a stock exchange release issued on June 18, 2020. ASPO PLC Aki Ojanen CEO For further information, please contact: Aki Ojanen, CEO Aspo Plc, +358 400 106 592, aki.ojanen@aspo.com DISTRIBUTION: Nasdaq Helsinki Key media www.aspo.com Aspo is a conglomerate that owns and develops business operations in Northern Europe and growth markets, focusing on demanding B2B customers. The aim of our strong corporate brands – ESL Shipping, Leipurin and Telko– is to be the market leaders in

Conference call 24 August at 08.30 (CET) about Interim Report H1 202014.8.2020 10:44:37 CESTPress release

14/08/2020 COMPANY ANNOUNCEMENT 9/2020 Goodvalley will release its Interim Report H1 2020 on 21 August 2020. On 24 August 2020 at 08.30 (CET), Goodvalley will host a conference call at which CEO Hans Henrik Pedersen and Vice CEO Kristian Brokop Jacobsen will provide comments on financial and operational performance, the outlook and answer questions. Registration is not required. The conference call will be conducted in English and can be followed live here: https://edge.media-server.com/mmc/p/y95a4frp Participants should dial the numbers provided below and state conference code 6680528 Denmark:+45 32 72 80 42Norway:+47 239 60264Sweden:+46 (0)850 692180Poland+48 222 120 152United Kingdom:+44 (0)844 571 8892United States:+1 631 5107495 Further Information Group CFO, Jakob Brasted + 45 76 52 20 00 info@goodvalley.com Goodvalley at a glance Goodvalley is an international producer of high-quality pork products operating in Poland, Ukraine and Russia based on Danish production standards. The

Mandalay Resources Corporation tillkännager resultatrapporten för andra kvartalet 202014.8.2020 10:24:01 CESTPressemelding

TORONTO, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Mandalay Resources Corporation (”Mandalay” eller ”bolaget”) (TSX: MND, OTCQB: MNDJF) tillkännagav idag resultatrapporten för kvartalet som slutade den 30 juni 2020. Bolagets sammanfattade och konsoliderade delårsrapporter för kvartalet som slutade den 30 juni 2020, tillsammans med ledningens diskussion och analys (”MD&A”) för motsvarande period, finns tillgängliga under bolagets profil på www.sedar.com och på bolagets webbplats www.mandalayresources.com. Alla valutor i detta pressmeddelande avser US-dollar om inget annat är angivet. Under det andra kvartalet 2020 genererade bolaget intäkter på 42,3 miljoner USD, en justerad EBITDA på 21,3 miljoner USD och en konsoliderad nettovinst på 7,6 miljoner USD eller 0,08 USD per aktie. Dominic Duffy, President och Chief Executive Officer för Mandalay, kommenterar resultaten, ”Mandalays starka finansiella resultat för andra kvartalet drevs av ännu en rekordstor kvartalsjusterad EBITDA vid Costerfield på

Disclosure through the National Storage Mechanism14.8.2020 10:14:41 CESTPress release

14 August 2020 Disclosure through the National Storage Mechanism Pursuant to the Listing Rules LR 14.3.11AR to LR 14.3.11DR approved by the Financial Conduct Authority of the United Kingdom, Public Joint Stock Company Acron (Moscow Exchange and LSE: AKRN) uploaded to the National Storage Mechanism the Prospectus for Global Depositary Receipts of Joint Stock Company Acron listed at the London Stock Exchange since 2008, and Acron’s Charter as amended. Mediacontacts: Sergey Dorofeev Anastasiya Gromova Tatiana Smirnova Public Relations Phone: +7 (495) 777-08-65 (ext. 5196) Investor contacts: Ilya Popov Investor Relations Phone: +7 (495) 745-77-45 (ext. 5252) Background Information Acron Group is a leading vertically integrated mineral fertiliser producer in Russia and globally, with chemical production facilities in Veliky Novgorod (Acron) and Smolensk region (Dorogobuzh). The Group owns and operates a phosphate mine in Murmansk region (North-Western Phosphorous Company, NWPC) and is imple