AXIS Communications

• Net sales amounted to SEK 808 M (643) M, corresponding to growth of 26 percent. Net sales increased by 39 percent in local currencies.
• Operating profit increased to SEK 126 M (95), which corresponds to an operating margin of 15.6 percent (14.8).
• Profit after tax amounted to SEK 91 M (69).
• Earnings per share amounted to SEK 1.31 (1.00).

Strong sales trend in all regions

“Our strong sales trend at the end of last year continued during the beginning of 2011 when we saw a stable trend in demand for our network video products in all regions. In our view, the weak investment climate in Southern Europe is essentially the only factor which is affecting the growth rate negatively in Region EMEA. At the same time, the strong Swedish krona in relation to USD and EUR has impacted our sales negatively. Adjusted for foreign currency effects, sales increased by 39 percent during the quarter.

The AXIS M50 Series featuring compact and good-value pan/tilt/zoom network cameras was an important product release during the first quarter. These products are further supplements to our very strong product line of high-quality PTZ network cameras. The AXIS M50 Series will strengthen our offer of network solutions, particularly towards the important retail market. We maintained a very high rate of recruitment during the first quarter. The number of employees increased by 69 during the period. The recruitments during the first quarter were mainly concerned with strengthening the global sales organization.” Ray Mauritsson, President