Cyber Security 1 AB Reports Group and Parent Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Revenue Guidance for the Year of 2018
For the six months, on group basis, the company reported net revenue of EUR 9,010,000 compared to EUR 7,505,000 a year ago. Operating loss was EUR 1,942,000 compared to EUR 2,126,000 a year ago. LBITDA was EUR 1,909,000 compared to EUR 2,091,000 a year ago. Loss before tax was EUR 2,556,000 compared to EUR 2,177,000 a year ago. Loss attributable to parent was EUR 2,486,000 or EUR 0.0082 per share compared to EUR 2,108,000 or EUR 0.0119 per share a year ago. Cash flow from operating activities was EUR 19,000 compared to cash outflow from operating activities of EUR 1,894,000 a year ago. Acquisition of fixed assets was EUR 674,000.
For the quarter, on parent basis, the company reported operating loss of EUR 115,000 compared to EUR 260,000 a year ago. Loss before tax was EUR 115,000 compared to EUR 260,000 a year ago. Loss for the period was EUR 115,000 compared to EUR 260,000 a year ago. Cash outflow from operating activities was EUR 579,000 compared to cash flow from operating activities of EUR 1,000 a year ago.
For the six months, on parent basis, the company reported operating loss of EUR 232,000 compared to EUR 458,000 a year ago. Loss before tax was EUR 231,000 compared to EUR 458,000 a year ago. Loss for the period was EUR 231,000 compared to EUR 458,000 a year ago. Cash outflow from operating activities was EUR 534,000 compared to EUR 1,361,000 a year ago.
With three major recently announced acquisitions of ADVANTIO, ITWAY & INFONET along with organic growth the company has seen a pro-forma group forecast of EUR 49.04 million revenue in 2018.