Clavister Reports Q2 Sales Growth

Increasing demand for virtual solution helped security technology vendor report year-on-year revenues growth of 22.6% to 21.4 million Swedish kronor (US$2.65 million).

August 15, 2017

1 Min Read

ÖRNSKÖLDSVIK, Sweden -- Clavister (Nasdaq: CLAV) announced today in its Q2 2017 report that its virtual security solutions are gaining good traction on the market, with additional orders received from global mobile operators.

Additionally, the solution’s flexibility to address non-telecom industries was highlighted through an order from a market-leading datacenter provider.

A commission by Nokia for Clavister to be integrated into the cloud based SDN/NFV orchestration by Nuage Networks has been certified, another indication of confidence in the solution.

The report also details that enterprise business has received positive feedback from a number of key markets and accounts. In Japan, Canon IT Solutions placed a 1,6 MSEK order in Q2 with more expected in the latter quarters of 2017.

Also, an announcement from the Board that John Vestberg has been promoted to President and CEO as well as Viktor Kovacs to the Chairman of the Board heralds new management changes to direct and foster the business.

Second quarter 2017

  • Revenues amounted to 21,4 (17,4) MSEK, an increase of 22,6% compared to second quarter in 2016

    • Gross profit amounted to 17,0 (10,9) MSEK, an increase of 56,3%

    • Gross margin amounted to 79,7 (62,5) %

    • Net profit for the period amounted to -19,2 (-22,9) MSEK

    • Cash by the end of the period was 29,6 (17,6) MSEK. In addition, own shares are added at a value of 8,2 MSEK at the end of the quarter, which together with cash and cash equivalents yields a total of 37,8 MSEK.

    • Earnings per share amounted to -0,84 (-1,19) SEK

      Clavister AB

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