Axis Records 11.6 Percent Growth for Jan. to Sept. 2009

Axis Communications, the Swedish network camera provider, grew 11.6 percent for revenue from Jan. to Sept. 2009 for US$236.8 million, compared to the same period in 2008. The company cited strong gains in Asia, but saw its operating profit fall 35.3 percent for the same period.

• Net sales during the period amounted to $236.8 million ($212.1 million for the same period in 2008), and sales amounted to $81.8 million ($78.2 million) for the third quarter.
• Operating profit during the period totaled $27.1 million ($41.9 million), and operating profit totaled $13.7 million ($18.9 million) for the third quarter.
• Profit before tax during the period amounted to $26.9 million ($41.9 million), and profit before tax amounted to $13.5 million ($18.9 million) for the third quarter.
• Profit after tax during the period totaled $19.2 million ($29.8 million), and profit after tax totaled $9.5 million ($13.5 million) for the third quarter.
• Earnings per share for the period amounted to $0.28 ($0.43).

“It is gratifying to be able to report a positive sales trend for Axis during the first nine months of the year,” said Ray Mauritsson, President. “Sales have improved continuously and net sales for the third quarter amounted to SEK 568 million (US$236.8 million). All the regions showed a positive sales trend between the second and third quarters. The greatest improvement in sales was displayed in the Asia region. During the period, Axis continued to introduce a number of high quality network video products which were received with great interest on the market. Recruitments have continued during the third quarter and there were 776 employees (680 employees in 2008) at the end of the period.”