DSO vendor Enea posted its first-quarter financials today. There's good news, and not so good.
The good: Net sales rose by 7% to 187.3 million Swedish kroner (SEK), or approximately $29.9 million. Software sales rose by 12%, to SEK 64.5 million (about $10.3 million), while consulting and other revenue hit SEK 122.8 million (approximately $19.6 million), up from SEK 116.9 million (about $18.7 million) a year earlier. Notably, this is Enea's eight straight quarter of revenue growth.
The not-so-good: Profits didn't do much. Gross profits rose by only SEK 400,000, to SEK 81.9 million (about $13.1 million). After-tax profits fell to SEK 11.5 million ($1.8 million), down from SEK 16.8 million in the year-earlier quarter. Operating profits also fell, to SEK 16.1 million (nearly $2.6 million) this year from SEK 16.5 million a year earlier. Margins shrunk, as well, to 8.6%, down from 9.5% a year earlier.
Enea is still mainly a Nordic company specializing in telecom. Looked at geographically, 71% of first-quarter sales came from the Nordic region. By market area, 76% came from telecom. That said, North American sales are rising and now represent fully 23% of the company's first-quarter sales. The Swedish company's expansion plans seem to be gaining traction here in the U.S.
For more info, plus a link to a detailed PDF, see this Enea page.
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