Record revenue for Nera Networks in 2008
Financial information
Nera Networks AS revenue for the full year 2008 increased by 37 per cent to NOK 1,797 million compared to 2007.
Nera Networks AS revenue for the full year 2008 increased by 37 per cent to NOK 1,797 million compared to 2007.
The high growth rate is proof of the competitiveness of the software defined Evolution Series radios. The Evolution Series portfolio enables Nera a larger portion of the Point-to-Point (PtP) transmission market than the company was able to target with its previous product generations.
Nera Networks reported gross profit of NOK 90 million in the fourth quarter, which was an increase of 31 percent from the fourth quarter 2007. For the full year 2008, reported EBIT was NOK 33 million.
For the full year 2008, reported EBIT was NOK 33 million. Excluding non-recurring items, EBIT improved from a loss of NOK 52 million in 2007 to a positive NOK 74 million in 2008.
The improvement in operating profit for the year reflects higher revenue, higher gross margin and relatively lower operating expenses, as a result of higher capacity utilization, a more cost-efficient product portfolio, and operational leverage.
Nera Networks AS is a fully owned subsidiary of Eltek ASA (ELT) listed on the Oslo Stock Exchange. A full financial report for Q4 2008 is available from the Eltek website.
2/20/2009