IAR Systems Group AB (PUBL) Interim Report January-June 2012

Sales up by 21% and operating margin of 13%

• Net sales of SEK 114.4m (94.7), of which SEK 56.4m (48.9) in the second quarter
• Operating profit of SEK 15.3m (9,2), of which SEK 7.3m (5.4) in the second quarter
• Profit before tax of SEK 15.3m (9.0), of which SEK 7.7m (5.3) in the second quarter
• The period’s cash flow from operating activities was SEK 15.4m (9.1) and net cash at the end of the quarter totaled SEK 42.6m (28.8)
• Operating margin of 13.4% (9.7) for the six-month period and 12.9% (11.0) for the second quarter
• Earnings per share before dilution and calculated on profit from continuing operations
  after current tax amounted to SEK 1.23 (0.76), of which SEK 0.61 (0.44) for the second quarter
• In local currency, net sales for the period increased by 19% in the USA, 14% in Europe and 23% in Asia compared to the same period of last year

Key events during the period

• IAR Systems opens sales office in Seoul, South Korea
• IAR Systems’ debug probe I-jet delivered in all markets  
• Sale of 300,000 treasury shares in May 2012 for a value of SEK 11.6m