INVISIO's Order Intake, Sales and Earnings are Stronger Than Expected in the Fourth Quarter of 2019
Friday, January 10, 2020
STOCKHOLM, Jan. 3, 2020 /PRNewswire/ -- INVISIO is publishing a reverse profit warning because the order intake, sales and earnings are expected to considerably exceed market expectations. Order intake in the fourth quarter amounts to approximately SEK 268 million, sales exceed SEK 195 million (95.6) with sales growth of at least 100 percent and operating profit exceeding SEK 70 million (20.6).
The main reason for the strong performance is a high order intake in the quarter combined with good readiness to deliver. The unpublished order intake has been considerably higher than normal. The order intake in the fourth quarter amounted to approximately SEK 268 million.
A planned high inventory level has enabled INVISIO to make deliveries with short lead times during the quarter and consequently sales were higher than expected. Revenues exceed SEK 195 million (95.6).
The consequence of the high sales is that the operating profit is also stronger than expected. Operating profit for the quarter exceeds SEK 70 million (20.6).
In repeated reports for several years and in continuous meetings with the capital market, INVISIO has consistently informed that the company's market is characterized by larger procurement at irregular intervals. Lead times are often long due to extensive administrative processes and customer testing both in laboratories and among end users. This means that order intake and sales in individual quarters can vary greatly and have an effect on the financial year's full-year results.
This business logic also applies going forward, which means that order intake, sales and earnings may continue to fluctuate sharply between quarters and consequently impact the full year.
However, the company's assessment is that the order intake, sales and earnings for the fourth quarter of 2019 will exceed normal fluctuations and deviate considerably from market expectations.
INVISIO plans to publish its Q4 report on February 13, 2020, at 14:00.
For further information, please contact:
Lars Højgard Hansen
President and CEO
INVISIO Communications
Mobile: +45-5372-7722 | E-post: lhh@invisio.com
Michael Peterson
Director Investor Relations & Corporate Communication
INVISIO Communications
Mobile: +45-5372-7733 | E-mail: mpn@invisio.com
This information is information that INVISIO Communications AB (publ) is obliged to disclose under the EU Market Abuse Regulation. The information was released for public disclosure, through the agency of the President/CEO, on January 3, 2020, at 08.30 CET.
About INVISIO Communications AB (publ)
INVISIO develops and sells advanced communication systems that enable professionals in noisy and mission critical environments to communicate, protect their hearing and work effectively. The company combines specialist knowledge in acoustics and hearing with broad engineering know-how in software, materials technology and integration. Sales are via the headquarters in Copenhagen and sales offices in the USA, France and Italy and via a global network of partners. INVISIO's registered office is in Stockholm, Sweden and the company is listed on Nasdaq Stockholm (IVSO). Additional information is available on the company's website www.invisio.com.
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SOURCE INVISIO Communications AB
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