STOCKHOLM, July 4, 2017 /PRNewswire/ --
Clavister provides an operational update, explaining the company's overall business case with core assets and growth models in the key operating segments, including operational highlights, business update, key new management appointees and production innovations.
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Last week's Petya ransomware attack once again brought the global threat of cybersecurity to the front of the news cycle. An estimated 12,500-16,000 computers were attacked with 64 countries affected, organizations hit and crippled with data encrypted and disabled. The threat landscape is expanding quicker than at any time in cybersecurity history.
Customers who took advantage of our new suite of threat defense were protected throughout these recent attacks, something that the whole company takes pride in. We are determined to continue to drive our innovation platform and go-to-market strategy to protect our current and future clients from such attacks. The Clavister board of directors and the management team are unified in that we will continue to invest in the technology and the people of Clavister, that we attract the best talent to Clavister and our global mission to make the world digitally safer.
We are grateful that our customers believe resolutely in our vision, as we continue to grow our global brand and the business. We are receiving interest from investors and significant financial market players to provide the financial foundation, including long-term debt-financing alternatives, to support working capital needs as well as a stronger growth given the substantial commercial interests at hand. Clavister had, per end of first quarter 2017, financial assets of 75 MSEK, including tradable shares of 16 MSEK. This can be viewed in relation to EBITDA for FY2016 which amounted to -77 MSEK
Business expands in Japan
Sales through Canon IT Solutions is growing and the projected development for the Japanese market remain intact. Initial technical issues have been resolved, proved by a recent order totaling to 1,6 MSEK. Purchasing of additional products from Clavister is expected during second half of 2017.
NTT-BP has started the deployment of Clavister products for their Wi-Fi network. First installations are now up and running in selected locations in Tokyo.
Commercial break-through in telecom business
Orders have been received from multiple mobile operators, all being tier-1 carriers. Clavister expects the received orders to grow in value over the years to come, and expects new commercial orders on a recurring basis. The response from telecom customers has surpassed expectations from both Clavister and commercial partners.
Year to date, the following orders have been received:
- June 2017: Commercial order from a tier-1 mobile operator in Latin America
- April 2017: Commercial add-on order from a Western European tier-1 mobile operator
- March 2017: Commercial order from a Western European tier-1 mobile operator
- February 2017: Trial order from a Southern European tier-1 mobile operator
Clavister has also received orders on appliance-based (non-virtualized) security solutions, demonstrating that Clavister's solutions is highly competitive also in regular network deployments. Essentially, this shows that revenue prospect from telecom sales is not only dependent on the adoption rate of virtualized telecom networks, nor from a single larger partner.
The projected sales development for telecom remains at least on the levels provided in the latest Service Provider Update, dated 7thof June 2017.
Sanmina to produce security appliances in Sweden
Selected models of Clavister's appliance hardware is now being produced in the Sanmina plant in Örnsköldsvik, Sweden. This production collaboration creates a total end-to-end Swedish product line, from innovation through software design, implementation and testing, to final production and assembly. Clavister expects to see quality improvements with lower aftersales service costs as a consequence, as well as improved gross margins due to a more sophisticated, stream-lined and automated production process.
Organizational changes and cost optimization
Several organizational changes have been carried out in order to prepare Clavister for an intense period of work. Parts of the cost base have been reallocated to sales and marketing functions, which in practice means converting operational expenses to sales contribution. Also, a number of functions have been optimized, reducing costs effective later part of 2017.
Latest software release puts an end to high learning-threshold of Clavister products
Latest software release, Clavister cOS Core version 12, combines high flexibility with a high level of usability, dramatically reducing the knowledge threshold for operating the Clavister products. Feedback from early customers is very positive, which is encouraging for upcoming customer projects.
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