Axis Announces 2012 Half-Year Report

The second quarter

● Net sales increased to USD 150 M, corresponding to growth of 40 percent during the second quarter. Net sales increased by 31 percent in local currencies.
● Operating profit increased to USD 17.3 M, which corresponds to an operating margin of 11.6 percent.
● Profit after tax amounted to USD 12.6 M.
● Earnings per share amounted to USD 0.18.

The first half-year
● Net sales during the first half-year amounted to USD 276 M, corresponding to growth of 24 percent. Net sales increased by 18 percent in local currencies.
●Operating profit decreased to USD 29 M, which corresponds to an operating margin of 10.4 percent.
●Profit after tax amounted to USD 21 M.
●Earnings per share amounted to USD 0.3.

Sales in line with expectations
“After a weak start to the year, sales of network video products gained momentum during the second quarter, which meant sales that were in line with our expectations. Taken together, this resulted in growth of 24 percent during the first six months of the year, and growth of 18 percent in local currencies.

The market research institute IMS published a new report during the period in which Axis was again ranked as the clear market leader in the network cameras category and now also in the surveillance cameras category. Growth expectations for network video are estimated in the report at approximately 25 percent in the next few years.

The second quarter was characterized by a continued high recruitment rate and we had 1,265 employees at the end of the period. We saw an unchanged high level in the inflow of new projects during the second quarter and there is a good basis for a continued positive trend”. Ray Mauritsson, President

The full report and slide presentation is available on: http://www.axis.com/documentation/corporate/reports/2012/q2powerpoint.pdf