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Edgeware reduces profits compared to the previous year – but reverses at least the gloomy trend of 2018.
Edgeware, which develops technologies for the distribution of television and video services, announces a decline in its sales in the third quarter compared to the same period of last year. The company also reports a reduction in profits.
But compared to the first two quarters of 2018, the results were better. Edgeware lost then.
In the initial trading, Edgeware was up 20%. At 09:15, the stock was 15%.
The turnover amounted to 54.5 million SEK (59.6%), a decrease of 9% compared to the previous year. In comparable currencies, the decline was 14.5%.
Operating profit amounted to 3.0 million SEK (6.0), with an operating margin of 5.5% (10.1).
Profit before tax was SEK 2.8 million (5.8). Profit after tax was 3.3 million (4.0), down 18% from the previous year. Earnings per share amounted to 0.1 SEK (0.1).
"We are continuing to work on the steps necessary to return to profitable growth, expanding our business with new software products, dealing with new types of customers, expanding our operations outside of Europe, and reducing our costs in some areas. areas to allow expansion where we see new business opportunities I am not yet satisfied with our financial performance but I see clear signs that our actions have given
results and that we are on the right track, "commented Karl Theden in the report.
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