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Electronics Production | February 10, 2012

Note claims "successful year"

Updated: Note has released their 2011 year end financial results, claiming a "successful year". CEO Peter Laveson credited recent restructuring in the company for the results.
The company posted an operating profit of in October-December of SEK 15.1 million (2.2 US million) up from SEK 12.1 million for the same period in 2010. Operating profit for the year was SEK 64.4 million (9.69 US million) up from -48.2 million in 2010.

Note's CEO Peter Laveson credited the company's restructuring program for the results.

”What has been fundamental to our positive progress is the fairly extensive restructuring program completed in 2010,” said Laveson. ”In it, we contentrated our electronics production on fewer units, both in Sweden and internationally.

Financial Performance October–December
-Sales amounted to SEK 297.7 (366.8) million.
-The operating profit was SEK 15.1 (12.2) million.
-The operating margin was 5.1% (3.3%).
-The profit after financial items was SEK 13.2 (8.1) million.
-The profit after tax was SEK 8.6 (2.0) million, corresponding to SEK 0.30 (0.07) per share.
-Cash flow after investments amounted to SEK 10.9 (40.2) million, or SEK 0.38 (1.39) per share.

Financial Performance January–December
-Sales were SEK 1,208.8 (1,210.7) million.
-The operating profit was SEK 64.4 (-48.2) million. The profit for the first three quarters of the previous year included structural and other non-recurring costs of approximately SEK -47 million.
-The operating margin was 5.3% (-4.0%). Adjusted for the previous year’s non-recurring costs of some SEK -47 million, operating margin increased by 5.4 percentage points.
-The profit after financial items was SEK 56.3 (-59.4) million.
-The profit after tax was SEK 39.4 (-62.0) million, corresponding to SEK 1.36 (-2.55) per share.
-Cash flow after investments improved by SEK 70.1 million to SEK 56.5 (-13.6) million, or SEK 1.96 (-0.56) per share.
-Dividend–the Board of Directors proposes a dividend to the shareholders of SEK 0.30 (0.00) per share. The Annual General Meeting will be held on 25 April 2012.

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