Sales were SEK 240.3 (235.2) m, corresponding to an increase of 2.2%, and 7.1% adjusted for exchange rate fluctuations.

Operating profit was SEK 41.1 (39.5) m and operating margin was 17.1% (16.8%).

Net profit was SEK 31.9 (31.2) m.

Earnings per share after dilution were SEK 1.15 (1.12).

Cash flow from operating activities was SEK 59.7 (30.9) m.

After the end of the quarter, Transmode signed a three-year frame agreement with Hutchison Global Communications Limited for the delivery of an optical backbone network in Hong Kong. CEO's Statement: Another highly profitable quarter for Transmode
"I am very satisfied with our results for the first quarter, especially considering the unfavorable progress of exchange rates. Sales increased to SEK 240 m in the first quarter, up 2% compared to the corresponding quarter 2012, and cash flow from operating activities was nearly SEK 60 m. The positive operating margin of over 17% was primarily driven by a gross margin of nearly 51% and continued operational efficiency. After the end of the quarter, we were able to announce a three-year framework agreement with Hutchison Global Communications Limited for the delivery of an optical backbone network in Hong Kong, capable of transmission speeds of up to 100 Gbit/s. The APAC region is a very promising and high-growth market, which means this win is strategic to the company's growth plans in APAC. We are continuing to invest in research and development, and for example, have been Carrier Ethernet 2.0 certified by the Metro Ethernet Forum. We have also launched WDM-based solutions for Mobile Fronthaul, which enable our products to support mobile operator transitions to Cloud-RAN architectures, a new way of building radio networks."
Karl Thedéen, CEO, Transmode Transmode Systems AB