STOCKHOLM, Sweden, Feb. 12, 2003 (PRIMEZONE) -- Protect Data (Other OTC:PRTDF) (Stockholm:PROT):
-- Sales amounted to SEK 55.6 M (69.8) during the fourth quarter and to
SEK 203.7 M (224.9) for the full-year.
-- Pointsec sales amounted to SEK 16.7 M (20.0) during the fourth
quarter, and Pointsec operations accounted for a profit in the
consolidated accounts for the second consecutive quarter.
-- The gross margin for the quarter amounted to 56% (60%), and the
accumulated margin for the year was 59% (51%). Pointsec's share of
sales amounted to 30% (29%) during the quarter, with accumulated
sales amounting to 28% (19%).
-- The operating loss amounted to SEK 6.3 M (loss: 3.4) for the
quarter, with an accumulated loss for the year of SEK 39.3 M
(loss: 70.7). Costs of SEK 6.9 M (4.1) for the discontinuation of
operations were charged against earnings for the quarter, with
total charges for the year amounting to SEK 11.6 M (13.0).
-- A profit of SEK 0.5 M (loss: 2.7) after net financial items was
reported for the fourth quarter, while a loss of SEK 29.8 M (loss:
62.5) was reported for the full-year. An realized gain in value of
SEK 5.2 M in the Nektar fund contributed positively to net financial
items during the fourth quarter.
-- Cash flow was positive during the quarter and liquidity at the end
of the period amounted to SEK 141 M (150), including unutilized
overdraft facilities and unrealized surplus values in fund assets.
Shareholders' equity amounted to SEK 133 M (163), corresponding to
an equity/asset ratio of 65% (63%).
SIGNIFICANT EVENTS DURING THE QUARTER
-- Pointsec orders were received from Key Bank in the U.S. with an
order value of SEK 3.4 M.
-- Significant Pointsec deliveries were made in Europe to such customers
as Vattenfall, Nokia and AstraZeneca.
-- Interest in Protect Data Solutions' offering increased and resulted
in assignments from such customers as AeroTech Telub and com hem.
-- During the quarter, a contract was signed with one of Great
Britain's largest banks regarding a delivery of Pointsec during
the first quarter of 2003. The order value amounts to some SEK 5 M.
-- Major deliveries of security solutions for Internet banks were made
in both Sweden and Norway.
-- One of Protect Data Solutions' major customers decided to sign a
contract directly with Protect Data's foreign supplier. This
decision will result in a reduction of estimated sales for the
business area during 2003, and a cost-savings program was therefore
implemented in December that will result in additional personnel
reductions.
EVENTS AFTER THE CLOSING DATE
-- Pointsec started operations in Germany during the first quarter of
2003 through the wholly-owned subsidiary Pointsec Mobile
Technologies GmbH.
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