Nordicom A/S
Nordicom A/S – Positive net profit for Q3 2010
Nordicom A/S 23.11.2010 09:41 --------------------------------------------------------------------------- In Q3 2010 Nordicom achieved a positive net profit of DKK 7 m after tax. For the first time since the beginning of the financial crisis Nordicom achieved a positive net profit after interest expenses from primary operations. Net profit from primary operations before valuation adjustments increased to DKK 39.9 m in Q3 (2009: DKK 36.7 m) due to lower capacity costs for the period. Interest expenses for Q3 amounted to DKK 31.7 m (2009: DKK 51.1 m) and are now covered by profits from primary operations. Managing Director Niels Troen says 'The earnings trend is turning around as a result of the implementation of our transition process. However, the low level of interest rates have helped us and we still need to work through a number of development projects which have had a negative impact on net profits. Furthermore we are working on decreasing the company's capacity costs further so that a longer-term improvement in earnings is achieved'. Noridcom's liquid holdings were DKK 109.4 m as at 30-09-2010 (30-09-2009: DKK 25.8 m). The company's capital structure has also been improved as the short-term interest-bearing debt has been reduced from DKK 1,848 m as at 30-09-2009 to DKK 54 m as at 30-09-2010. Best regards, Nordicom A/S Board of directors For further information/ comments please contact Managing Director of Nordicom Niels Troen, tel 3333 9303, mobile 51512342, www.nordicom.dk. News Source: NASDAQ OMX 23.11.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Nordicom A/S Denmark Phone: Fax: E-mail: Internet: ISIN: DK0010158500 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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