Cognosec AB (publ) (“Cognosec” or “The Company”), a leading supplier of solutions within Cyber Security with operations in Europe, Africa and the Middle East, today announces its fourth quarter and twelve month report for 2016.
The Fourth Quarter showed a 32% increase in revenues compared to the previous quarter, from EUR 3.23m to 4.28m. The newly created European businesses saw revenues of EUR 547k compared to EUR630k. Continued investments in resources and headcount were made to build the business and meet demand. Headcount 108 versus 83 previous year.
- Revenues grew to EUR 4.28m up 32% compared to previous quarter
- European operations revenue generation: EUR 530k (Q4 2015: nil)
- New business in South Africa grew 289%, adding to future renewal rates
- Gross profit margin for the quarter was marginally down 42% (Q4 2015:47%)
- Resources and headcount grew substantially to build the business and meet demand
- Quarterly underlying operating loss, excluding new European entities: EUR 456k (Q4 2015 profit: EUR731k)
- FY Group Operating loss, including new European entities: EUR 2.71m (2015: profit EUR 1.86m)
- Quarterly loss per share amounted to EUR -0.0048 (Q4 2015: EUR 0.00027)
- The Group employed 108 (83) people at the end of the period, up 30 %
- The Group remained debt free and had EUR 1.36m in cash and cash equivalents at the end of the period
This report is published in English only, and going forward Cognosec AB will publish all of its quarterly reports in English.
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