INVISIO Communications Interim Report January to June 2012

16 August 2012 · Regulatory · Press Release · Report

Stockholm, August 16, 2012

INVISIO Communications (IVSO) has published its interim Report for January to June 2012. The report’s main bullets are below, and the report as a whole can be downloaded as pdf from INVISIO’s website.

Lars Højgård Hansen, CEO INVISIO Communications, comments:

During the second quarter we had a solid order intake and the highest sales of our professional products ever – yet another sales record. In five of the seven latest quarters the sales of our professional products have increased compared with the corresponding period previous year, and in three of the five latest quarters the sales of professional products have been record high.”

April – June 2012

  • Total income increased to SEK 11.9 m (10.8)
  • Sales for the business area Professional products increased with 28.9 percent to
    11.9 SEK m compared with the corresponding period 2011 (9.2)
  • Gross profit amounted to SEK 4.6 m (5.2). For Professional products SEK 4.6 m (4.6)
  • Gross margin amounted to 38.8 percent (48.5)
  • Operating loss amounted to SEK -6.0 m (-6.1)
  • Loss after tax amounted to SEK -6.4 m (-6.7)
  • Loss per share amounted to SEK -0.18 (-0.26)
  • The order book for the business area Professional products was SEK 5.2 m (9.3) at the end of the quarter

January – June 2012

  • Total income decreased to SEK 18.1 m (20.4)
  • Sales for the business area Professional products increased with 5.4 percent to
    SEK 18.1 m compared with the corresponding period 2011 (17.2)
  • Gross profit amounted to SEK 7.3 m (10.7). For Professional products SEK 7.3 m (8.5)
  • Gross margin amounted to 40.3 percent (52.7)
  • Operating loss amounted to SEK -13.9 m (-12.1)
  • Loss after tax amounted to SEK -15.0 m (-13.3)
  • Loss per share amounted to SEK -0.44 (-0.52)

Important Events April – June

  • INVISIO received an order from a Special Forces Unit. The order was for the headset INVISIO X6 with the intelligent control unit INVISIO X50. The total order value was approximately SEK 3.0 m.
  • INVISIO received an additional order from the European law enforcement Special Force Unit that a year ago bought products from INVISIO. The order was again for the headset INVISIO M3H with hearing protection, which will be used with a PTT solution (Push to Talk) from INVISIO. The order value was also this time approximately SEK 1.3 m.
  • Thomas Larsson was appointed new Chief Financial Officer for INVISIO Communications. Larsson started his employment during April and entered his position during the summer when the current CFO Bengt Nilsson is leaving the company due to retirement. 
  • The Board for INVISIO Communications AB has on April 19, 2012, decided to carry out a directed share issue to TAMT AB of a maximum of 2 500 000 shares, corresponding to about 7.4 percent of the total currently outstanding shares. Through the emission, the Company’s share capital increased with SEK 2 500 000. The subscription price was SEK 3.10 per share. The share issue provided the Company with a total of SEK 7 750 000. There were no share issue costs. In addition to the share issue, INVISIO has also received a loan guarantee from Yggdrasil AB of SEK 5.0 m. Yggdrasil controls 8.7 percent of the shares and votes in INVISIO and the potential loan would therefore be regarded as a related party transaction.

Important Events after the period

  • INVISIO has received a loan of SEK 5.0 m from Erik Penser Bankaktiebolag. The loan is running with 9.25 percent interest until May 31, 2013, but can be repaid earlier without additional costs. INVISIO has issued collateral in the form of third hand pledge in the shares of the subsidiary Nextlink IPR AB. The loan represents a part of the financing solution that INVISIO accounted for in the press release and prospectus in connection with the new share issue with shareholder precedence during the fall of 2011.

For additional information, please contact:

Lars Højgård Hansen, CEO INVISIO Communications

Mobile: + 45 53 72 7722

E-mail: lhh@invisiocommunications.com

About INVISIO Communications AB

INVISIO Communications AB is a public company listed on the NASDAQ OMX First North Premier Segment (ticker code: IVSO) an alternative market on NASDAQ OMX Stockholm. INVISIO specializes in voice communications in difficult conditions. The company develops, manufactures, markets and sells communication solutions such as advanced headsets control units and accessories for use with two-way radio, primarily for professional users who often work in difficult environments. The customers are for example found in the military and military Special Forces, police and SWAT teams, emergency services, the security sector, and various industries throughout the world. Additional information is available on the company’s web site at www.invisiocommunications.com. Mangold Fondkommission AB is Certified Adviser for INVISIO Communications AB.

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Michael Peterson

Michael Peterson

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