SSH Communications Security Oyj
SSH Communications Security Oyj
- ISIN: FI0009008270
- Land: .
Nachricht vom 03.05.2012 | 08:00
TECTIA INTERIM REPORT, JANUARY 1 – MARCH 31, 2012
Tectia Oyj
03.05.2012 08:00
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Helsinki, Finland, 2012-05-03 08:00 CEST (GLOBE NEWSWIRE) -- TECTIA CORPORATION
INTERIM REPORT MAY 3, 2012 AT 9:00 A.M
TECTIA INTERIM REPORT, JANUARY 1 - MARCH 31, 2012
SUMMARY
January-March
- Net sales increased to EUR 2.6 million, up by 22.0 percent year on year (EUR
2.1 million in 1-3/2011).
- Operating profit increased to EUR 0.2 million (an operating loss of EUR -0.8
million in 1-3/2011). Profit EUR 0.3 million (loss EUR -0.9 million)
- Earnings per share increased to EUR 0.01 (EUR -0.03).
- Company moved to using the SSH Communications Security -name and ssh.com
internet address in its business.
The company's financial position was strengthened from previously reported
period, with equity ratio 46.6 percent (65.0 percent 31.3.2011, 36,2percent
31.12.2011) and liquid assets at the end of the period EUR 2.7 million (EUR 3.8
million 31.3.2011, EUR 2.5 million 31.12.2011).
KEY FIGURES
----------------------------------------------------------------------
1-3/ 1-3/ Change % 1-12/
2012 2011 2011
----------------------------------------------------------------------
----------------------------------------------------------------------
Net sales (MEUR) 2,6 2,1 22,0 8,1
----------------------------------------------------------------------
Operating profit/loss (MEUR) 0,2 -0,8 130,1 -2,0
----------------------------------------------------------------------
% of net sales 9,4 -39,5 -25,3
----------------------------------------------------------------------
Profit/loss before taxes (MEUR) 0,3 -0,9 130,5 -2,2
----------------------------------------------------------------------
Profit/loss (MEUR) 0,3 -0,9 130,5 -2,2
----------------------------------------------------------------------
----------------------------------------------------------------------
Return on equity, % 88,5 -120,9 -110,0
----------------------------------------------------------------------
Return on investment, % 90,7 -112,8 -99,6
----------------------------------------------------------------------
Liquid assets 2,7 3,8 2,5
----------------------------------------------------------------------
Gearing (%) -189,0 -146,8 -230,0
----------------------------------------------------------------------
Equity ratio (%) 46,6 65,0 36,2
----------------------------------------------------------------------
----------------------------------------------------------------------
Earnings per share (EUR) 0,01 -0,03 -0,07
----------------------------------------------------------------------
Shareholders' equity per share (EUR) 0,05 0,10 0,03
----------------------------------------------------------------------
CEO'S REVIEW
The company achieved positive results in the first quarter from both profit and
cash flow perspective. This was in part due to a significant license deal in
January. Additionally, the company's new key management solution is receiving
strong interest and it may lead to significant deals later in the year. In
April the company also announced that it has sold a Tectia Guardian solution to
a European government entity for monitoring remote system administration and
encrypted connections within their network.
The tender offer I made for company's shares has now ended, and we can fully
focus on developing the company's business. The tender offer and related
increase in my ownership has no direct impact on the company's operations,
personnel, or customers. The new situation allows more effective management
and financing of the company.
The company provides solutions for improving the operational efficiency and
security of large IT environments and their administration, regardless of
whether they use the company's commercial Tectia SSH or open source OpenSSH
products (practically every Linux and Unix computer and router ships with a
version of SSH software, and it is also increasingly used as a file transfer
solution in enterprises).
The company now particularly focuses on key management in large SSH
environments. The company's key management solutions have been on the market
since 2003, and are used by some of the world's largest banks, retail chains,
logistics companies, and government agencies - even for managing environments
of tens of thousands of servers.
The company is currently developing its next generation key and configuration
management solution for large SSH environments together with some of its
largest customers (including some of the world's largest banks, a large retail
chain, and a large logistics company as pilot customers). The company's new
key management solutions provide visibility also for SSH user keys and automate
their setup, removal and rotation, thereby providing operational cost savings,
reducing security risk, and helping customers comply with industry standards
and regulations. The management solutions support both commercial Tectia SSH
and open source OpenSSH versions - also in mixed environments and on all
primary enterprise platforms.
I intend to lead the company as an entrepreneur-driven growth company. Over the
next several quarters the company will invest in bringing its new products to
market, in part by growing its sales organization and partner network in the
US, Europe, and Asia. I also want the company to be a technology leader in its
own area, and we will continue to invest in R&D and developing new solutions
for improving the efficiency and security of customers' IT infrastructure. The
company has also filed patent applications on essential technologies relating
to automating key management in SSH environments and monitoring encrypted
connections within enterprises.
Tatu Ylönen
CEO
REPORTING
This financial statement release follows IFRS accounting standards and
assessments. The figures are non-audited. The following amendments to standards
have been adopted as from 1 January 2012 but they have had no impact on the
consolidated financial statements: (* = not yet endorsed for use by the
European Union)
* Amendments to IFRS 7 Financial Instruments: Disclosures
* Amendments to IAS 12 Income Taxes*
FUTURE OUTLOOK
General economic uncertainty can possibly still continue. This complicates
estimation for full year 2012. However company estimates its net sales are
likely to increase from 2011 due mainly to two large contracts already
announced and continued solid maintenance business.
Tectia believes that it is not justified at the moment to give profitability
estimates for year 2012 mainly due to risks related to development and ramping
up sales and deliveries of new products and the uncertainty in macroeconomic
environment.
NET SALES
Consolidated net sales for January-March totaled EUR 2.6 million (EUR 2.1
million), up by 22.0 percent, year on year.
The Americas, the Europe, Middle East and Africa market area and the Asia
Pacific region accounted for 42.3 percent (66.6 percent), 46.6 percent (20.3
percent) and 11.2 percent (13.1 percent) of reported net sales, respectively.
The significant licence deal in Europe in January impacted regional
distribution.
TECTIA NET SALES
-----------------------------------------------
EUR Million 1-3/ 1-3/ Change % 1-12/
2012 2011 2011
-----------------------------------------------
-----------------------------------------------
BY SEGMENT
-----------------------------------------------
AMERICAS 1,1 1,4 -22,6 4,8
-----------------------------------------------
APAC 0,3 0,3 10,7 1,3
-----------------------------------------------
EMEA 1,2 0,4 169,1 1,9
-----------------------------------------------
Tectia Group Total 2,6 2,1 22,0 8,1
-----------------------------------------------
-----------------------------------------------
BY OPERATION
-----------------------------------------------
License sales 1,2 0,7 71,4 2,8
-----------------------------------------------
Maintenance 1,4 1,4 0,0 5,3
-----------------------------------------------
Total 2,6 2,1 22,0 8,1
-----------------------------------------------
The majority of Tectia's invoicing is U.S. dollar based. During the report
period, the U.S. dollar's average exchange rate to euro strengthened on average
4.1 percent compared to the same period a year ago. With comparable exchange
rates 2012 net sales increase would have been 19.2 percent compared to 2011
corresponding period.
RESULTS AND EXPENSES
Operating profit for January-March amounted to EUR 0.2 million (EUR -0.8
million), with net profit totaling EUR 0.3 million (EUR -0.9 million).
Non-recurring items during January-march were EUR -0.2 million due to moving
the office in Helsinki and costs caused to company due to public tender offer
of all Tectia Oyj shares.
Sales, marketing and customer support expenses for the January-March reporting
period amounted to EUR -1.2 million (EUR -1.7 million), while research and
development expenses totaled EUR -0.6 million (EUR -0.7 million) and
administrative expenses EUR -0.5 million (EUR -0.5 million).
BALANCE SHEET AND FINANCIAL POSITION
The financial position of Tectia remained at a healthy level during the
reporting period. The consolidated balance sheet total on March 31, 2012 stood
at EUR 5.9 million (31.3.2011 EUR 6.8 million; 31.12.2011 EUR 6.4 million), of
which liquid assets accounted for EUR 2.7 million (31.3.2011 EUR 3.8 million;
31.12.2011 EUR 2,5 million, or 42.4 percent of the balance sheet total). On
March 31, 2012, gearing, or the ratio of net liabilities to shareholders'
equity, was -189.0 percent (31.3.2011 -146,8 percent; 31.12.2011 -230.0
percent) and the equity ratio stood at 46.6 percent (31.3.2011 65.0 percent;
31.12.2011 36.2 percent).
The reported gross capital expenditure for the period totalled EUR 0.3 million
(EUR 0.0 million). The reported financial income and expenses consisted mainly
of interest on deposits and exchange rate gains or losses. Financial income and
expenses totalled EUR 0.0 million (EUR 0.0 million).
During January-March, Tectia reported a positive cash flow of EUR 0.4 million
(EUR -0.2 million) from business operations, and investments showed a negative
cash flow of EUR -0.3 million (EUR -0.0 million). Cash flow from financing
totaled EUR 0.0 million (EUR 2.5 million). Total cash flow from operations,
investments and financing was positive EUR 0.1 million (EUR 2.2 million) during
the period.
RESEARCH AND DEVELOPMENT
Research and development expenses for January-March totaled EUR -0.6 million
(EUR -0.7 million), the equivalent of 21.9 percent of net sales (33.7 percent).
During January-March, the company has capitalized new product R&D costs EUR 0.3
million (EUR 0.0 million).
HUMAN RESOURCES AND ORGANIZATION
At the end of March, the Group had 52 employees on its payroll. The amount of
employees is the same than at year end, and is down by 8 persons from the
previous year, a decrease of -13.3 percent.
At the end of the period, 35 percent of the employees worked in sales and
marketing, 48 percent in R&D, and 17 percent in corporate administration.
BOARD AND AUDITORS
At the Annual General Meeting (AGM) on March 28, 2012 elected Päivi Hautamäki,
Sami Ahvenniemi and Tatu Ylönen as directors of the company's Board of
Directors. Päivi Hautamäki was elected as the Chairman of the Board of
Directors.
The Authorized Public Accountants KPMG Oy Ab was re-elected as the auditor of
the company, with Kirsi Jantunen, KHT as the accountant with the main
responsibility.
SHARES, SHAREHOLDING AND CHANGES IN GROUP STRUCTURE
The reported trading volume of Tectia Corporation shares totaled 2,362,705
shares (valued at EUR 1,126,848). The highest quotation was EUR 0.59 and the
lowest EUR 0.30. The trade-weighted average share price for the period was EUR
0.48 and the share closed at EUR 0.49 (March 30, 2012).
Company's principal owner Tatu Ylönen holdings directly and indirectly holds
now 47.6 percent of the company's shares, Assetman Oy holds 13.1 percent and
SSH Management Investment Corp 4.7 percent. More information about the
shareholding can be obtained from the company's web site.
SSH Management Investment Corp is part of the Tectia Group consolidated
financial statements due to shareholder agreement. SSH Management Investment
Corp owns 1,433,750 Tectia Corporation shares.
Clausal Computing Oy, 100 percent owned by Tatu Ylönen, has made a public
tender offer of all shares and option rights in Tectia Corporation 19.3.2012.
The offer was valid until 27.4.2012. Tectia Board of Directors gave a statement
23.3.2012 where they did not recommend accepting of the offer.
No dividend or return of capital has been distributed during the reporting
period.
SHARE CAPITAL AND BOARD AUTHORIZATIONS
The company's registered share capital on December 31, 2011 was EUR 916,476.24
consisting of 30,549,208 shares.
The Annual General Meeting approved the Board of Directors' proposal to
authorize the Board of Directors to decide upon the issuing of in total
5,500,000 shares, in one or more tranches, as share issues against payment or
by giving stock options or other special rights entitling to shares, as defined
in Chapter 10 Section 1 of the Finnish Companies Act, either in accordance with
the shareholders' pre-emptive right to share subscription or deviating from
this right. The authorization will be valid until the next Annual General
Meeting, but will expire on June 30th 2013 at the latest.
The Annual General Meeting approved the Board of Directors' proposal to
authorize the Board of Directors to decide upon the acquiring of a maximum of
2,000,000 of the company's own shares, in one or more tranches, with assets
belonging to the company's non-restricted equity. This amount corresponds
approximately to 6.55 per cent of all shares of the company. The compensation
to be paid for the acquired shares shall be determined on the date of
acquisition on the basis of the trading rate determined for the company's share
in the public trading arranged by NASDAQ OMX Helsinki Ltd. The authorization to
acquire the shares will be valid at most for eighteen (18) months after the
decision of the Annual General Meeting.
RISKS AND UNCERTAINTIES
Short- and midterm risks impacting Tectia have not changed remarkably since
31.12.2011. Largest risks impacting the profitability of the company are:
- amount of R&D investment into new still under development products, starting
the delivery and sales of the new products and demand;
- continuing uncertainty of macroeconomic environment;
- large portion of company revenue is invoiced in USD currency so possible
large fluctuation in USD currency rates during 2012 could have unpredictable
effects into profitability that are at the time difficult to estimate.
Principles and organization of risk management of Tectia can be read from
company's webpage: www.ssh.com.
EVENTS AFTER THE BALANCE SHEET DATE
According to a separately published release by the company on April 16th, 2012,
a major European governmental organization has ordered Tectia Guardian product
with a value of EUR 0.5 million. Software license sales of the received order
will be recognized during second quarter 2012 and the maintenance sales portion
during fiscal years 2012 and 2013.
As company announced 10.4.2012, Tatu Ylönen and his fully owned Clausal
Computing Oy has exceeded the flagging threshold of 50%. As company announced
30.4.2012, according to the preliminary result of the Tender Offer, the Shares
tendered in the Tender Offer represent approximately 10.36 percent of all the
Shares and voting rights attached to the Shares. Together with the Shares
otherwise purchased or previously owned by Clausal Computing and Tatu Ylönen,
the Shares tendered in the Tender Offer represent approximately 58.00 percent
of all the Shares and voting rights attached to the Shares. In addition, 13,322
Stock Options entitling to Shares were tendered in the Tender Offer. When
taking into account the Shares owned by Tectia's subsidiary SSH Management
Investment Oy, Tatu Ylönen's direct and indirect share of the voting rights
attached to the Shares is 60.86 percent based on the shareholding following the
completion of the Tender Offer.
The final result of the Tender Offer will be confirmed and announced on or
about May 3, 2012.
The Tectia management is not aware of any other transactions that happened
after the reporting period that would have impacted the presented financial
statement.
RELATED PARTY TRANSACTIONS
Clausal Computing Oy, a fully owned company of Tectia Corporation CEO Tatu
Ylönen has delivered during January-March 2012 mainly R&D services valued in
total EUR 0.1 million. During the reporting period there have not been any
other significant related party transactions.
TABLES
COMPREHENSIVE INCOME STATEMENT
-------------------------------------------------------------------
EUR million 1-3 1-3 1-12
/2012 /2011 /2011
-------------------------------------------------------------------
-------------------------------------------------------------------
Net sales 2,6 2,1 8.1
-------------------------------------------------------------------
Cost of goods sold -0,1 0,0 -0.1
-------------------------------------------------------------------
Gross profit 2,5 2,1 7.9
-------------------------------------------------------------------
Other operating income 0,0 0,0 0.0
-------------------------------------------------------------------
-------------------------------------------------------------------
Sales. marketing and customer support costs -1,2 -1,7 -5.4
-------------------------------------------------------------------
Product development expenses -0,6 -0,7 -2.5
-------------------------------------------------------------------
Administrative expenses -0,5 -0,5 -2.0
-------------------------------------------------------------------
-------------------------------------------------------------------
Operating profit/loss 0,2 -0,8 -2.0
-------------------------------------------------------------------
-------------------------------------------------------------------
Financial income and expenses 0,0 -0,0 -0.1
-------------------------------------------------------------------
-------------------------------------------------------------------
Profit/loss before taxes 0,3 -0,9 -2.2
-------------------------------------------------------------------
Taxes 0,0 0,0 -0.0
-------------------------------------------------------------------
-------------------------------------------------------------------
Net profit/loss for the financial period 0,3 -0,9 -2.2
-------------------------------------------------------------------
Minority Interest 0,0 -0,0 -0.0
-------------------------------------------------------------------
Other profit and loss account items:
-------------------------------------------------------------------
Foreign subsidiary translation differences 0.1
-------------------------------------------------------------------
0,0 0,2
-------------------------------------------------------------------
Total comprehensive income -2.1
-------------------------------------------------------------------
0,3 -0,6
-------------------------------------------------------------------
Net profit/loss attributable to:
-----------------------------------------------------
Owners of the Company 0,3 -0,8 -2.1
-----------------------------------------------------
Non-Controlling interest 0,0 -0,0 -0.0
-----------------------------------------------------
-----------------------------------------------------
EARNINGS PER SHARE
-----------------------------------------------------
Earnings per share (EUR) 0,01 -0,03 -0.07
-----------------------------------------------------
Earnings per share. diluted (EUR) 0,01 -0,03 -0.07
-----------------------------------------------------
BALANCE SHEET
-------------------------------------------------------------------------
EUR million
-------------------------------------------------------------------------
31.3.2012 31.3.2011 31.12.2011
-------------------------------------------------------------------------
ASSETS
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Non-current assets
-------------------------------------------------------------------------
Tangible assets 0,1 0,1 0,1
-------------------------------------------------------------------------
Intangible assets 1,5 0,8 1,3
-------------------------------------------------------------------------
Investments 0,0 0,0 0,0
-------------------------------------------------------------------------
Total non-current assets 1,7 1,0 1,5
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Current assets
-------------------------------------------------------------------------
Trade and other receivables 1,6 2,1 2,4
-------------------------------------------------------------------------
Short-term financial assets 0,0 0,0 0,0
-------------------------------------------------------------------------
Cash and cash equivalents 2,7 3,8 2,5
-------------------------------------------------------------------------
Total current assets 4,3 5,8 4,9
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Total assets 5,9 6,8 6,4
-------------------------------------------------------------------------
-------------------------------------------------------------------------
LIABILITIES AND SHAREHOLDERS' EQUITY
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Shareholders' equity
-------------------------------------------------------------------------
Equity attributable to the 1,2 2,2 0,8
parent company shareholders
total
-------------------------------------------------------------------------
Non-controlling interest 0,2 0,3 0,2
-------------------------------------------------------------------------
Shareholders' equity total 1,4 2,5 1,1
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Non-current liabilities
-------------------------------------------------------------------------
Provisions 0,1 0,1 0,1
-------------------------------------------------------------------------
Non-current interest-bearing 0,0 0,0 0,0
liabilities
-------------------------------------------------------------------------
Total long-term liabilities 0,1 0,1 0,1
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Current liabilities 4,5 4,2 5,2
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Liabilities total 4,5 4,3 5,3
-------------------------------------------------------------------------
-------------------------------------------------------------------------
Total equity and liabilities 5,9 6,8 6,4
-------------------------------------------------------------------------
CASH FLOW STATEMENT
--------------------------------------------------------------------
EUR million 1-3/2012 1-3/2011 1-12/2011
--------------------------------------------------------------------
--------------------------------------------------------------------
Cash flow from business operations -0,4 -0,2 -0.8
--------------------------------------------------------------------
Cash flow from investments -0,3 -0,0 -0.7
--------------------------------------------------------------------
Cash flow from financing 0,0 2,5 2.5
--------------------------------------------------------------------
--------------------------------------------------------------------
Increase(+) / decrease (-) in cash 0,1 2,2 0.9
--------------------------------------------------------------------
--------------------------------------------------------------------
Cash at period start 2,4 1,6 1.6
--------------------------------------------------------------------
Effect of exchange rate 0,0 0,0 0.0
--------------------------------------------------------------------
Cash at period end 2,5 3,8 2.5
--------------------------------------------------------------------
STATEMENT ON
CHANGES IN
SHAREHOLDERS'
EQUITY
--------------------------------------------------------------------------------
EUR Share Fair Other Trans-l Fund Non-Con Unrestricte Total
millio Capi-t value Equity ation for trollin d equity
n al reser- Fund diff own g funds and
ves shares intere retained
st earnings
--------------------------------------------------------------------------------
Shareho 0,9 0,1 0,1 -1,3 -1,0 0,3 4,0 3,2
lders'
equity
Jan. 1.
2011
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Change 0,2 0,2
--------------------------------------------------------------------------------
Net -0,9 -0,9
profit
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Shareho 0,9 0,1 0,1 -1,1 -1,0 0,3 3,2 2,5
lders'
equity
March
31.
2011
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Change 0,1 -0,2 -0,1 -0,2
--------------------------------------------------------------------------------
Net -1,3 -1,3
Profit
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Shareho 0,9 0,1 0,2 -1,2 -1,0 0,2 1,9 1,1
lders'
equity
Dec.
31.
2011
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
Change 0,0
--------------------------------------------------------------------------------
Net 0,3 0,3
profit
--------------------------------------------------------------------------------
Shareho
lders'
equity
March
31.
2012
--------------------------------------------------------------------------------
0,9 0,1 0,2 -1,2 -1,0 0,2 2,2 1,4
--------------------------------------------------------------------------------
NET SALES BY SEGMENT
-------------------------------------------
EUR million 10-12/ 10-12/ 1-12/
2011 2010 2011
-------------------------------------------
-------------------------------------------
AMER 1,1 1,4 4,8
-------------------------------------------
APAC 0,3 0,3 1,3
-------------------------------------------
EMEA 1,2 0,4 1,9
-------------------------------------------
Tectia Group total 2,6 2,1 8,1
-------------------------------------------
GROSS MARGIN BY SEGMENT
------------------------------------------
EUR million 1-3/ 1-3/ 1-12/
2012 2011 2011
------------------------------------------
------------------------------------------
AMER 1,1 1,4 4,8
------------------------------------------
APAC 0,3 0,3 1,3
------------------------------------------
EMEA 1,1 0,4 1,8
------------------------------------------
Tectia Group total 2,5 2,1 7,9
------------------------------------------
OPERATING PROFIT/LOSS BY SEGMENT
---------------------------------------------------
EUR million 1-3/ 1-3/ 1-12/
2012 2011 2011
---------------------------------------------------
---------------------------------------------------
AMER 0,4 0,5 2,0
---------------------------------------------------
APAC 0,2 0,2 0,8
---------------------------------------------------
EMEA 1,1 0,1 1,0
---------------------------------------------------
Common Group -1,4 -1,6 -5,8
expenses*
---------------------------------------------------
Tectia Group total 0,2 -0,8 -2,0
---------------------------------------------------
* Common Group expenses include Group administration expenses (e.g. management
and finance) and product management and R&D expenses for corporate
headquarters.
KEY FIGURES AND RATIOS
--------------------------------------------------------------------------------
EUR million 1-3/201 1-3/201 1-12/201
2 1 1
--------------------------------------------------------------------------------
Net sales 2,6 2,1 8,1
--------------------------------------------------------------------------------
Operating profit/loss 0,2 -0,8 -2,0
--------------------------------------------------------------------------------
Operating profit/loss. as % of net sales 9,4 -39,5 -25,3
--------------------------------------------------------------------------------
Profit/loss before extraordinary items and taxes 0,5 -0,5 -1,1
--------------------------------------------------------------------------------
Profit/loss before extraordinary items and taxes. as 19,4 -24,3 -13,3
% of net sales
--------------------------------------------------------------------------------
Profit/loss before taxes 0,3 -0,9 -2,2
--------------------------------------------------------------------------------
Profit/loss before taxes. as 10,7 -41,0 -27,0
% of net sales
--------------------------------------------------------------------------------
Return on equity (%) 88,5 -120,9 -110,0
--------------------------------------------------------------------------------
Return on investment (%) 90,7 -112,8 -99,6
--------------------------------------------------------------------------------
Interest-bearing net liabilities -2,6 -3,7 -2,5
--------------------------------------------------------------------------------
Equity ratio (%) 46,6 65,0 36,2
--------------------------------------------------------------------------------
Gearing (%) -189,0 -146,8 -230,0
--------------------------------------------------------------------------------
Gross capital expenditure 0,3 0,0 0,8
--------------------------------------------------------------------------------
% of net sales 11,5 2,2 9,9
--------------------------------------------------------------------------------
R&D expenses 0,6 0,7 2,5
--------------------------------------------------------------------------------
% of net sales 23,1 33,7 31,3
--------------------------------------------------------------------------------
Personnel. period average 52 68 61
--------------------------------------------------------------------------------
Personnel. period end 52 60 52
--------------------------------------------------------------------------------
Calculation for key figures and ratios are presented in 2011 financial
statement and annual report. There have not been changes in calculation rules
after that.
PER-SHARE DATA
------------------------------------------------------------------------------
EUR 1-3/2012 1-3/2011 1-12/2011
------------------------------------------------------------------------------
------------------------------------------------------------------------------
Earnings per share. Undiluted 0,01 -0,03 -0,07
------------------------------------------------------------------------------
Earnings per share. diluted 0,01 -0,03 -0,07
------------------------------------------------------------------------------
Equity per share 0,05 0,10 0,03
------------------------------------------------------------------------------
No. of shares at period average (thousand) 30 549 30 548 30 549
------------------------------------------------------------------------------
No. of shares at period end (thousand) 30 549 30 548 30 549
------------------------------------------------------------------------------
Share performance
------------------------------------------------------------------------------
Average price 0,48 0,76 0,51
------------------------------------------------------------------------------
Low 0,30 0,60 0,29
------------------------------------------------------------------------------
High 0,59 0,89 0,89
------------------------------------------------------------------------------
Share price. period end 0,49 0,62 0,30
------------------------------------------------------------------------------
Market capitalization. period end (EUR million) 14,9 18,9 9,2
------------------------------------------------------------------------------
Volume of shares traded (million) 2,3 0,5 2,3
------------------------------------------------------------------------------
Volume of shares traded. As 7,7 1,7 7,5
% of total
------------------------------------------------------------------------------
Value of shares traded (EUR million) 1,1 0,4 1,2
------------------------------------------------------------------------------
Price per earnings ratio (P/E) - - -
------------------------------------------------------------------------------
Dividend per share 0,00 0,00 0,00
------------------------------------------------------------------------------
Dividend per earnings, % 0,00 0,00 0,00
------------------------------------------------------------------------------
Effective return on dividend, % 0,00 0,00 0,00
------------------------------------------------------------------------------
CONTINGENT LIABILITIES
----------------------------------------------------------------
EUR million 31.3.2012 31.3.2011 31.12.2011
----------------------------------------------------------------
Rent security deposits 0,1 0,1 0,1
----------------------------------------------------------------
Leasing commitments outside
the balance sheet
----------------------------------------------------------------
Maturing within 1 year 0,5 0,4 0,5
----------------------------------------------------------------
Maturing between 1 and 5 years 0,6 0,8 0,4
----------------------------------------------------------------
DISCLAIMER
The content in this report is provided by Tectia Corporation ('Tectia') and its
third party content providers for your personal information only. And does not
constitute an offer or invitation to purchase any securities. Nor does it
provide any form of advice (investment. tax. legal) amounting to investment
advice. Or make any recommendations regarding particular investments or
products. Tectia does not provide investment advice or recommendations to buy
or sell its shares or the shares of others. If you are interested in investing
in Tectia, please contact your financial adviser for further details and
information. Past performance of Tectia shares is not indicative of future
results. EXCEPT AS PROVIDED BY APPLICABLE COMPULSORY LAW TECTIA EXPRESSLY
DISCLAIMS ALL WARRANTIES, EXPRESSED OR IMPLIED. AS TO THE AVAILABILITY,
ACCURACY OR RELIABILITY OF ANY OF THE CONTENT PROVIDED, OR AS TO THE FITNESS OF
THE INFORMATION FOR ANY PURPOSE.
Tectia Corporation will release its next interim report for period January
1st-June 30th, 2012 on August 1st, 2012.
Helsinki, May 2nd, 2012
TECTIA CORPORATION
Board of Directors
Tatu Ylönen
CEO
For further information, please contact:
Tatu Ylönen, CEO. tel. +358 20 500 7000
Jyrki Lalla, CFO, tel. +358 45 340 4641
Distribution:
NASDAQ OMX Helsinki Ltd.
Major media
www.tectia.com
News Source: NASDAQ OMX
03.05.2012 Dissemination of a Corporate News, transmitted by DGAP -
a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------------
Language: English
Company: Tectia Oyj
Finland
Phone:
Fax:
E-mail:
Internet:
ISIN: FI0009008270
WKN:
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Die HELMA Eigenheimbau AG präsentierte für das Geschäftsjahr 2012 Rekordwerte. Auf Basis unseres DCF-Modells haben wir einen fairen Wert je Aktie von 22,75 € ermittelt. Ausgehend vom erwarteten 2013er-EPS von 1,64 € entspricht dies einem KGV von 8,4. Das Kurspotenzial beläuft sich auf nahezu 65%.
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20. Mai 19:00 US-Börsen schließen im Minus- Dow Jones auf Rekordhoch -Fed im Fokus ...
20. Mai 16:45 DAX markiert neues Allzeithoch: Commerzbank, Daimler, Hochtief, ...
20. Mai 10:30 DAX im Plus: Commerzbank, Daimler, Hochtief, Lufthansa, Nokia, Talanx ...
20. Mai 10:00 Linde: Die heimliche DAX-Perle
20. Mai 09:15 Diese Aktie lässt Apple und Nokia alt aussehen: 3 weitere Dinge, die ...
Aktuelle Research-Studie
Original-Research: Plan Optik AG (von GBC AG): Kaufen Plan Optik AG
17. Mai 2013