Opcon AB announced unaudited consolidated and parent earnings results for the first quarter ended March 31, 2014. For the quarter, on consolidated basis, the company's net sales were SEK 67.3 million compared with SEK 74.0 million a year ago. Operating loss was SEK 5.9 million compared with SEK 9.4 million a year ago. Loss before tax was SEK 6.1 million compared with SEK 14.1 million a year ago. Loss from remaining business was SEK 6.1 million or SEK 0.02 per diluted share compared with SEK 14.1 million or SEK 0.05 per diluted share a year ago. Loss attributable to parent company shareholders was SEK 9.8 million or SEK 0.03 per diluted share compared with SEK 14.1 million or SEK 0.05 per diluted share a year ago. Cash flow used in current activities was SEK 4.4 million compared with SEK 18.3 million a year ago. Total cash flow used in the business was SEK 20.3 million compared with SEK 36.9 million a year ago. Earnings in the quarter improved significantly despite a small decline in sales mostly due to the measures implemented to improve margins and reduce costs. The loss for remaining business has more than halved compared with the previous year, but there remain things to be done to turn the business around.

For the quarter, on parent basis, the company's net sales were SEK 6.4 million compared with SEK 18.6 million a year ago. Operating loss was SEK 5.2 million compared with SEK 3.4 million a year ago. Loss from financial income and expenses was SEK 3.3 million compared with SEK 5.4 million a year ago. Loss for the period was SEK 3.3 million compared with SEK 5.4 million a year ago.