STOCKHOLM, Sweden, July 18, 2014 (GLOBE NEWSWIRE) -- SECOND QUARTER HIGHLIGHTS
- Sales in the quarter were SEK 54.8 (55.3) b. Sales for comparable units, adjusted for currency, decreased -1% YoY and increased 13% QoQ
- Sales recovered compared to the previous quarter driven by growth in the Middle East, China and India, as well as continued capacity business in North America
- Gross margin increased YoY to 36.4% (32.4%), driven by strong development in capacity business, increased IPR revenues and lower restructuring charges
- With current visibility, key contracts awarded will gradually impact sales and business mix, in the second half of the year
- Operating margin improved YoY to 7.3% (4.5%), mainly driven by stronger performance in segment Networks
- Operating income amounted to SEK 4.0 (2.5) b.
- Cash flow from operating activities was SEK 2.1 (4.3) b.
|SEK b.||Q22014||Q22013||YoYchange||Q12014||QoQchange||Six months2014||Six months2013|
|Sales growth adj. for comparable units and currency||-||-||-1%||-||13%||-4%||7%|
|EPS diluted, SEK||0.79||0.45||76%||0.65||22%||1.44||0.82|
|EPS (Non-IFRS), SEK 1)||1.07||0.88||22%||0.90||19%||1.98||1.88|
|Cash flow from operating activities||2.1||4.3||-52%||9.4||-78%||11.5||1.3|
|Net cash, end of period||32.5||27.4||18%||43.6||-26%||32.5||27.4|
|1) EPS, diluted, excl. amortizations and write-downs of acquired intangible assets, and restructuring|
Comments from Hans Vestberg, President and CEO of Ericsson (NASDAQ:ERIC)
Sales for comparable units, adjusted for currency, recovered compared to the previous quarter and were down by -1% year-over-year. Operating margin improved year-over-year, mainly driven by stronger performance in segment Networks.
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