Clavister Revenues Rise 52% Alongside a Gross Profit Increase of 81% Year Over Year

STOCKHOLM, Oct. 25, 2017 /PRNewswire/ -- The Q3 2017 report shows substantial improvements in various aspects of the business. Orders from key strategic customers, including one of the world's largest mobile operators, have been received during the quarter.

Clavister (Nasdaq: CLAV), a leader in high-performance network security solutions, released its latest quarterly report detailing increases in most of its key metrics including revenues (+52%), gross margin (+12 percentage points), and gross profit (+81%) year over year.

It also detailed growth in main enterprise geographical markets such as the Nordics (+74%), EMEA excluding Nordics (+53%) and Asia (+41%).

Clavister has, since the end of the second quarter, received several strategic orders within the telecom segment, whereof two pertains to global mobile operators with operations in multiple countries. The deal size of those two orders, over five years, are estimated by Clavister at 20 to 40 MSEK each. A smaller, but strategically important order was received for a market-leading global data center provider.

Third Quarter 2017

• Revenues amounted to 23.9 (15.7) MSEK, an increase of 52% compared to the third quarter in 2016.

• Gross profit amounted to 17.3 (9.6) MSEK, an increase of 81% year over year.

• Gross margin amounted to 73 (61)%.

• Results after financial items amounted to -18.6 (-10.0) MSEK. Adjusted for extra ordinary items last year of 8,1 MSEK and extra-ordinary financial costs in Q3(2017) corresponding results was -17.0 MSEK versus -18.1 MSEK during the same period last year.

• Cash by the end of the period was 31.3 (15.6) MSEK. In addition, Clavister has own shares at a value of 7.8 MSEK at the end of the quarter, which--together with cash and cash equivalents--yielded a total of 39.1 MSEK.

• Earnings per share amounted to -0.63 (-0.52) SEK.

For more information, please contact:
John Vestberg
President and CEO
john.vestberg@clavister.com

This information is information that Clavister AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on October 25, 2017. 

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