Clavister - First Commercial Orders From Nokia Networks and Strong Demand for IAM Products Mark Q1 Strengths

STOCKHOLM, May 31, 2017 /PRNewswire/ --

Clavister (Nasdaq: CLAV) - has received its first order for its virtual security solution from Nokia Networks during Q1 2017, as previously announced. A smaller add-on order from the same operator was received in May and a trial order for validation purposes for another tier-one operator was received earlier in the quarter.

Previous investments in "Identity Management" / IAM yielded positive results during the first quarter. The launch of the Clavister Endpoint Security Client (Clavister ESC) in February significantly increases the company's addressable market compared to simple "Firewalling". It also strengthens the conditions for expanded sales of Next Generation Firewall (NGFW) products.

Also during the quarter, Aptilo and Clavister launched a collaboration on WiFi and IoT solutions in the edge computing segment.

In March, a new CEO and president, Johan Öhman, took office.

First quarter 2017

• Revenues amounted to 20,6 (18,0) MSEK, an increase of 14,6% compared to first quarter in 2016
• Gross profit amounted to 16,6 (12,7) MSEK, an increase of 30,6%
• Gross margin amounted to 80,5 (70,7) %
• Net profit for the period amounted to -15,2 (-17,2) MSEK
• Cash positive by the end of the period was 59,3 (47,3) MSEK. In addition, own shares are added at a value of SEK 16.1 million at the end of the quarter, which together with cash and cash equivalents yields a total of SEK 75.4 million
• Earnings per share amounted to -0,67 (-0,91) SEK

This report has not been audited by the company's auditor. The report can be downloaded in full here

The report will be presented via webcast at 9.00 CET - details for this in previous press release on the company's website.

For more information, please contact:

Johan Öhman,
CEO and President 
+46-727-11-73-73
[email protected]

This information was brought to you by Cision http://news.cision.com
http://news.cision.com/clavister/r/first-commercial-orders-from-nokia-networks-and-strong-demand-for-iam-products-mark-q1-strengths,c2276558

The following files are available for download:

SOURCE Clavister