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Enea Reports Full-Year Financials

by Peter Krass

February 08, 2006

Device-software supplier Enea just reported its 2005 full-year results. The good news is, the company reported its seventh consecutive quarter of sales growth and profitability. The bad: Sales to new customers fell short of Enea's expectations.

For the full year, net sales increased by 9% to SEK (Swedish kronor) 712 million, up from SEK 656 million a year earlier. Adjusted for divested units, net sales increased by 20%. Software sales increased by 17% to SEK 238 million, accounting for a third of net sales.

Operating profit for the full year was SEK 56 million, up from SEK 21 million a year earlier. Operating margins rose, too, hitting 8%, up from 3% a year ago.

Q4 results were mixed. Net sales hit SEK 194 million, up 4% from the year-earlier quarter. But operating profits declined to SEK 17 million, down from SEK 24 million in the year-earlier quarter.

In his CEO's note, Johan Wall points out that while sales to existing customers were fine, sales to new customers during the year "did not fully meet expectations." The result, he adds: "poorer software sales than expected" in North America and Europe--excluding the Nordic Region, where presumably sales were pretty good.

(At today's exchange rate, 1 Swedish krona equals US$ 0.1485)

Lots more detail here:
Full-Year Report for 2005.

Posted at 11:43 AM


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