Innofactor plc Reports Un-Audited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Earnings Guidance for the Year 2017
October 31, 2017 at 03:00 am EDT
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Innofactor Plc reported un-audited consolidated earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported net sales of EUR 13.930 million compared to EUR 11.803 million a year ago. LBITDA was EUR 0.877 million compared to EBITDA was EUR 0.859 million a year ago. Operating loss EUR 1.544 million compared to profit was EUR 0.254 million a year ago. Loss before taxes was EUR 1.617 million compared to profit was EUR 0.157 million a year ago. Loss was EUR 1.293 million compared to profit was EUR 0.125 million a year ago. Loss per share was EUR 0.0357 compared to earnings per share was EUR 0.0038 a year ago.
For the nine months, the company reported net sales of EUR 48.899 million compared to EUR 41.624 million a year ago. EBITDA was EUR 1.156 million compared to EUR 2.841 million a year ago. Operating loss EUR 0.857 million compared to profit was EUR 1.006 million a year ago. Loss before taxes was EUR 1.199 million compared to profit was EUR 0.724 million a year ago. Loss was EUR 0.959 million compared to profit was EUR 0.579 million a year ago. Loss per share was EUR 0.0274 compared to earnings per share was EUR 0.0176 a year ago. The return on equity in January 1September 30, 2017, decreased from the previous year and was negative 5.4% compared to 4.9% in 2016. Total cash flow from operating activities was EUR 3.053 million compared to EUR 2.490 million a year ago. Investments in intangible and tangible assets were EUR 1.398 million compared to EUR 0.338 million a year ago.
Company net sales in 2017 are estimated to increase from 2016, during which the net sales were EUR 59.6 million. Operating margin (EBITDA) is expected to remain lower than in 2016, when the operating margin was EUR 4.8 million.
Innofactor Oyj is a Finland-based software provider focused on Microsoft solutions in the Nordic countries. The Company delivers to its customers information technology (IT) projects as a system integrator and develops its own software products and services. The focus of Innofactorâs product development is on cloud solutions for Microsoft and its ecosystem. The Companyâs solutions include digital services, business solutions, cloud infrastructure, data and analytics, cyber security as well as information and case management. Innofactor Oyj has several directly and indirectly owned subsidiaries including Innofactor Holding AS, Innofactor Holding ApS, Innofactor HRM Oy, Innofactor Software Oy and Innofactor AS.
Innofactor plc Reports Un-Audited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Earnings Guidance for the Year 2017