Revenues MSEK 41.3 (51.0)
Operating results MSEK -0.9 (-2.9)
Of which restructuring costs MSEK -1.2 (0.0)
Profit/loss after taxes MSEK -0.9 (-3.4)
Positive operating results, third quarter MSEK 1.0 (-1.4)
Comments from the CEO
- During the third quarter, invoicing closed at MSEK 15 MSEK and JLT generated
an operating result of MSEK 1.0. During the same period in the previous year,
invoicing was MSEK 13, with a resulting loss of MSEK 1,4, The positive result
follows from JLT's focus on the high-end segment of the market, in combination
with a continuing effort to strengthen the gross margin and the cost cutting
package that was completed during the first quarter of the year.
- JLT's strategy is to focus on the high-end market segment, in which
performance and ruggedness are crucial and where JLT's expertise and products
have a significant competitive edge. The strategy involves a shift towards
customers within areas such as mining, construction, forestry, agriculture,
logistics, and ports. The shift towards more profitable market segments
continued during the third quarter, with incoming orders maintained at MSEK 18
(19).
- An important part of JLT's strategy is the rollout of the VERSO series. The
VERSO series was launched during the first quarter and is JLT's new family of
vehicle-mount computers with market leading performance. The VERSO computers
have been well received and several new customers placed orders during the third
quarter.
- Implemented actions including focus on the high-end segment, increasing gross
margin and cost savings have produced the desired result and a stable foundation
for long-term growth.
Per Holmberg, CEO
JLT Mobile Computers
Revenues and results for the period of January - September 2013
During the period, revenues totaled MSEK 41.3 (51.0). The gross margin increased
to 30.8 % (26.1), resulting in a gross profit of MSEK 12.7 (13.3).
The company's expenses for sales, marketing, R&D, and administration totaled
MSEK 11.8 (15.2). Expenses for restructuring of MSEK 1.2 was taken in the first
quarter of the year.
Depreciations related to operations during the period totaled MSEK 0.7 (0.9),
resulting in an operating result of MSEK -0.9 (-2.9).
Net interest income/expenses totaled MSEK -0.3 (-0.5) and the result before
taxes was MSEK -1.2
(-3.4).
The result after taxes totaled MSEK -0.9 (-3.4).
Incoming orders for the period totaled MSEK 48.1 (49.0), and at the end of the
period, outstanding orders were MSEK 8.3 (9.8).
Comments to the third quarter results
The gross profit for the quarter totaled MSEK 4.4 (3.6) with a gross margin of
30.2% (27.5).
Company expenses for sales, marketing, R&D and administration were reduced from
MSEK 4.7 to MSEK 3.2. Depreciations were reduced to MSEK 0.2 (0.3), which all
told provided an operating result of MSEK 1.0 (-1.4) for the third quarter. The
reduction is an effect of completed economy measures.
Vacations during the third quarter effect the cost base positively.
Financial position and cash flow
Cash flow was positive and totaled 1.6 MSEK for the period, net borrowing at the
end of the quarter totaled MSEK -10.8 (-10.6)
On the accounting date, company liquid funds totaled MSEK 10.0 (9.8) and
unutilized checking account funds were MSEK 5.0. The equity ratio was 68% (65)
with equity at MSEK 28.7 (29.6).
The Parent Company
The parent company performs services for the subsidiary and debits of these are
forwarded. The operating result totaled MSEK 0.4 (-0.3). There are no interest-
bearing debts.
The Company Tax Situation
At the end of the period, a deductible deficiency of MSEK 34.7 remained to be
utilized against future profits. Deferred outstanding tax of MSEK 6.0 is posted
as an asset.
Principles of Accounting
This report is prepared in accordance with recommendations from the Swedish
Financial Accounting Board for financial reports for part of the year (RR 20).
The same reporting principles that were used for the previous year's financial
report have been used.
Prospects for 2013
The product margin before currency effect will continue to be strengthened as a
result of more efficient production practices and market focus.
The existing business volume, reduced cost base and increasing margins provide a
stable base for the fourth quarter.
Share
During the year, a total of 7.0 million shares (4.7) have been traded,
corresponding to 26% of the total number of shares.
The share traded at SEK 0,91 at the beginning of the year; at the end of the
period the market price was SEK 1.29.
The JLT-share is listed at First North with Remium as certified advisor.
Reports during 2013
Year-end report 2013 February 6, 2014
Växjö, October 25, 2013
On behalf of the board: Per Holmberg, CEO
Additional information:
Per Holmberg CEO +46 470 - 53 03 00
Stefan Käck Deputy CEO / CFO +46 735 - 31 00 57
www.jltmobile.com
[HUG#1738225]
