Net Insight Records Strongest First Quarter
STOCKHOLM – Net Insight, a provider of transport technology for media, IP and broadcast networks, has posted its strongest first quarter on record. The company’s net sales were up 17.9 percent for a total of $74.4 million. Gross margin was up 60 percent and operating margins 7 percent.
Recent events that contributed to Net Insights growth include the company landing contracts from South Africa’s Sentech for the Digital Terrestrial TV Network and China Unicom for video transport. They also were tapped to support Al Jazeera in the Middle East.
“Although a positive currency effect represents the total growth, this remains our strongest first quarter on record and I expect our growth to continue over time, albeit not always at a smooth pace,” said CEO Fredrik Tumegård. “Cash flow remains positive and we have the liquidity required to act should we spot an acquisition target that fits our strategy.”
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