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Transmode AB: Year-end Report 2013

February 4, 2014

Stockholm, Sweden - 5 February 2014 October- December 2013 * Sales were SEK 223.3 (251.2) m, corresponding to a decrease of 11.1%, or 11.2% adjusted for exchange rate fluctuations. * Operating profit was SEK 9.3 (37.1) m, corresponding to an operating margin of 4.2% (14.8%). * Net profit was SEK 10.9 (35.2) m. * Earnings per share after dilution were SEK 0.39 (1.27). * Cash flow from operating activities was SEK 71.7 (70.8) m. January- December 2013 * Sales were SEK 1,029.1 (1,010.9) m, which corresponds to an increase of 1.8%, or 4.7% adjusted for exchange rate fluctuations. * Operating profit was SEK 148.5 (170.7) m, which corresponds to an operating margin of 14.4% (16.9%). * Net profit was SEK 123.3 (139.2) m. * Earnings per share after dilution were SEK 4.44 (5.01). * Cash flow from operating activities was SEK 174.7 (176.7) m. * The Board of Directors has decided to propose an ordinary dividend of SEK 1.80 (1.80) per share to the AGM, and against the background of the company's strong cash position, an extra dividend of SEK 4.70 (-) per share, or a total dividend of SEK 6.50 (1.80) per share. CEO's Statement: Transmode is well-positioned for continued profitable growth The fourth quarter was affected by late orders that we were unable to deliver and recognize as revenue in 2013. Sales were SEK 223 m, an 11% decrease on the fourth quarter 2012. Our gross margin and cash flow remained high, but the sales decrease affected operating margin for the quarter, which was 4%. We are continuing to invest in growth, primarily in product development and sales. The combination of expanded sales resources and an effective regional sales organization is creating better prospects to exploit growth opportunities globally. I'm pleased by the good profitability in 2013 and strong cash flow, but I'm not satisfied with our growth. However, the investments and successes we achieved in the year make us well positioned for continued profitable growth in 2014, and I'm still very confident about our growth strategy with its focus on geographical expansion, developing innovative products and efficient operations. Karl ThedÉen, CEO, Transmode The Year-end Report is attached and available via the link at the end of this press release. The information in this announcement is required to be disclosed by Transmode AB under the Swedish Securities Markets Act (Sw. lagen om vÄrdepappersmarknaden). This information was released for publication at 08:00 AM CET on 5 February 2014 . This is a translation of the Swedish original. In case of any inconsistency between the Swedish and English version, the Swedish version shall prevail. Invitation to press and analysts conference Transmode AB will hold a conference call (in English) for the media, investors and analysts on 5 February at 09:00 AM CET where CEO Karl ThedÉen , and CFO Johan Wilsby , will present and comment on Transmode's Year-end Report. To access the telephone conference, please call UK +44 (0)207 6602077 alternatively, call the Swedish number +46 (0)8 50556484 and state that you are joining the " Transmode conference call" a few minutes before the scheduled start. The conference and presentation can also be followed live online, see Transmode's homepage: http://www.transmode.com/en/investors/reports/interim- reports For more information please contact: Ola Elmeland Vice President Marketing & Communications Transmode Systems AB Telephone: +46 8 506 882 71 Email: ola.elmeland@transmode.com About Transmode Transmode is a global provider of packet-optical networking solutions that enable fixed line and mobile network operators to cost effectively address the capacity needs created by the rapid growth in video and data traffic. These solutions are important building blocks in next-generation high-speed optical networks that support services such as broadband backhaul, mobile data backhaul, video delivery services and cloud computing. Transmode's solutions are designed to increase the capacity, flexibility and functionality of metro and regional networks and are based on Wavelength Division Multiplexing (WDM) and transport technologies such as Ethernet. Transmode's Native Packet Optical 2.0 architecture gives customers key advantages such as cost efficient Ethernet services, ultra-low latency, low power consumption and future proof network design. Transmode is headquartered in Stockholm, Sweden and is listed on the NASDAQ OMX Stockholm Exchange (TRMO). Since 2000 the company has installed more than 40,000 systems for over 500 fixed and mobile network operators, service providers, large enterprises and public institutions in over 45 countries across the globe. For additional information about Transmode , please visit www.transmode.com . Year-end Report 2013: http://hugin.info/134733/R/1759221/594934.pdf This announcement is distributed by GlobeNewswire on behalf of GlobeNewswire clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Transmode via GlobeNewswire [HUG#1759221]


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Source: Thomson Reuters ONE


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