Net sales increased by 5 percent during the third quarter to SEK 1997M(1906). Net sales increased by 5 percent in local currencies.
Operating profit amounted to SEK 312M(389), which corresponds to an operating margin of 15.6percent (20.4).
Profit after tax amounted to SEK 233M(289). Earnings per share amounted to SEK 3.35(4.16).
January ~ September
Net sales increased by 9 percent during the period to SEK 5327M(4876). Net sales increased by 10 percent in local currencies. Operating profit amounted to SEK 632 M(650), which corresponds to an operating margin of 11.9 percent(13.3). Profit after tax amounted to SEK 470M(476). Earnings per share amounted to SEK 6.76 (6.85).
Ray Mauritsson Axis President's comments
After a strong first half of 2016, the growth rate and level of activity was slightly weaker during the third quarter. However, we displayed a good performance due to seasonally lower costs.
During the third quarter, we introduced new technology, which delivers better focus and image quality and broadened our offering, for example, to also include network loudspeakers. This demonstrates the continued high innovation rate in the company and that we are continuing to develop a broader offering with a greater focus on overall customer solutions.
On September 1 in EMEA and on October 1 in North America, Axis assumed responsibility for sales, marketing and service of Canon’s network video products. The network camera market continues to show great potential. We are now able to offer a wider range of products and solutions to our customers.
Finally, it is positive to see the strong performance of the companies we acquired during the first half of 2016, and how they are contributing to Axis’ offering. 2N is continuing to show growth and is strengthening its market-leading position in the IP intercom field. Citilog and Axis are conducting several joint projects in traffic monitoring. We also see how Cognimatics’ applications are well suited to Axis’ offering in the retail sector.