|By Business Wire||
|February 6, 2014 08:09 AM EST||
IAR Systems Group AB (STO:IARB):
Record sales and improved profitability
Net cash of SEK 81m, Board proposes extraordinary dividend
October - December 2013
· Net sales of SEK 61.5m (59.5)
· Operating profit of SEK 10.1m (9.8)
· Profit before tax of SEK 10.3m (10.1)
· Operating margin of 16.4% (16.5).
A stronger Swedish krona in 2013 compared to 2012 had a negative year-on-year impact of SEK 2.3m on sales and SEK 0.8m on operating profit
January - December 2013
· Net sales of SEK 230.2m (230.1)
· Operating profit of SEK 41.3m (35.2)
· Profit before tax of SEK 41.4m (35.1)
· Cash flow from operating activities of SEK 40.7m (38.3)
· Net cash at the end of the year was SEK 80.1m (49.3)
· Operating margin of 17.9% (15.3). Excluding the effects of an insurance claim (see details below), operating margin was 16.2%
· Earnings per share after current tax amounted to SEK 3.20 (2.69)
· Earnings per share amounted to SEK 2.59 (1.16) before dilution and SEK 2.40 (1.06) after dilution
· A stronger Swedish krona in 2013 compared to 2012 had a negative year-on-year impact of SEK 13.9m on sales and SEK 7.3m on operating profit
· The Board intends to propose a total dividend of SEK 5.00 per share for approval by the AGM on April 24, 2014. The ordinary dividend is proposed at SEK 3.00 (2.00) and the extraordinary dividend at SEK 2.00 (-)
"Some of the growth we have reported in recent years can be tied to a concept known as the “Internet of Things”. In the latter half of 2013 there was a higher level of both activity and publicity surrounding the Internet of Things. IAR Systems is ideally equipped to help our customers apply the Internet of Things in their products. We currently have 46,000 customers who are already using IAR Embedded Workbench to program their products. Now these products will also be programmed to communicate with the Internet, which will boost demand for our tools. In 2014 we will continue to focus on enhancing our offering and meeting our financial targets." - Stefan Skarin, President and CEO of IAR Systems Group AB
IAR Systems is the world’s leading supplier of software tools for developing embedded systems applications. The software enables over 19,000 large and small companies to develop premium products based on 8-, 16-, and 32-bit microcontrollers, mainly in the areas of industrial automation, medical devices, consumer electronics, telecommunication, and automotive products. IAR Systems has an extensive network of partners and cooperates with the world’s leading semiconductor vendors. IAR Systems Group AB is listed on NASDAQ OMX Stockholm. For more information, please visit www.iar.com
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