STOCKHOLM--(BUSINESS WIRE)--GS Sweden AB (STO:GOMX)
GS Sweden AB announces its interim report for the second quarter of 2016. The report is available on the company’s homepage (www.gomspace.com). The following is taken from the quarterly report:
Second quarter summary
1 April - 30 June 2016 (2015)
· o Successful trail of airline tracking in collaboration with Flightradar24 and Airbus Defence.
· o Investment collaboration with IFU on a major satellite project in Africa delivering a constellation of nano-satellites in order to establish a data service company.
· o Agreement signed with DALO and DTU on delivering a nano-satellite based surveillance demonstration for the Arctic.
· o Net revenues increased to SEK 13.9 million (8.0).
· o Gross margin increased to 66% (38%).
· o Profit/loss for the period increased to SEK 0.97 million (negative 2.24).
· o Earnings per share were SEK 0.09 (negative 3.2).
1 January - 30 June 2016 (2015)
· o Net revenues increased to SEK 24.9 million (13.1).
· o Gross margin increased to 65% (28%).
· o Profit/loss for the period increased to SEK 1.45 million (negative 5.84).
· o Earnings per share were SEK 0.25 (negative 8.35).
“The result of the first half year of 2016 progressed satisfactory and within our expectations. Our investment program is expected to cause increased expenses and negative profit over the next years, however the underlying profitability seen in the obtained gross margin for GomSpace will stay strong”, CEO Niels Buus commented.
This information is information that GomSpace 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 [17:00] CET on August 22, 2016.
About GS Sweden AB
The Company’s business operations are conducted through the wholly-owned Danish subsidiary, GomSpace ApS, with operational office in Aalborg, Denmark. GomSpace is a space company with a mission to be engaged in the global market for space systems and services by introducing new products, i.e. components, platforms and systems based on innovation within professional nanosatellites. The Company is listed on the Nasdaq First North Premier exchange under the ticker GOMX. FNCA Sweden AB is the Company’s Certified Adviser. For more information, please visit our website on www.gomspace.com.
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