Acando AB (publ.) reported unaudited consolidated and parent earnings results for the first quarter ended March 31, 2016. For the quarter, on consolidated basis, the company reported net sales of SEK 527 million against SEK 557 million a year ago. Total income was SEK 527 million against SEK 558 million a year ago. Operating profit was SEK 34 million against SEK 46 million a year ago. Profit after financial items was SEK 34 million against SEK 40 million a year ago. Net profit for the period attributable to shareholders of the company was SEK 24 million against SEK 29 million a year ago. Earnings per share-after dilution were SEK 0.24 against SEK 0.28 a year ago. Cash outflow from operating activities was SEK 7 million or SEK 0.15 per share against cash flow from operating activities of SEK 84 million or SEK 0.10 per share a year ago. Return on equity was 2% against 3% a year ago. Earnings were slightly down year-on-year, impacted by calendar effects with Easter occurring in the first quarter this year unlike the corresponding year-earlier period. The group's net investment in assets in the first quarter of 2016 was SEK 4 million against SEK 6 million a year ago. The investments pertained to minor investments in tangible and intangible assets.

For the quarter, the parent company reported net sales of SEK 18 million against SEK 16 million a year ago. Total income was SEK 18 million against SEK 16 million a year ago. Operating profit was SEK 1 million. Profit after financial items was SEK 1 million against loss after financial items of SEK 5 million a year ago. Net profit for the period was SEK 1 million against net loss for the period of SEK 5 million a year ago.

In conjunction with the first quarter decision to discontinue operations in India, the company carried out a goodwill impairment of SEK 1 million, the remainder of the change was due to currency effects.