Comptel’s Q1/2014 Results and Review

At the end of the last year, Comptel stated that our main objectives remain largely the same as for the year 2013: we will continue to invest in the new businesses (Comptel Fulfillment, Comptel Analytics and Comptel Policy and Charging Control), drive the expansion to new countries and substantially increase our collaboration with partners.

Our order backlog increased from the last quarter and we won three new customers during the first quarter of 2014. We received a new Comptel Analytics deal with a leading Asian operator, Globe Telecom, a Comptel Fulfillment deal in Colombia and a Comptel Convergent Mediation deal in New Zealand.

During the quarter, we signed a strategic partnership with Tech Mahindra and also won our first joint project after the partnership agreement.

Our year-over-year net sales declined to 18.0 million (21.2 million) due to seasonality swings between quarters. We divested one of our legacy businesses that also contributed slightly negatively to our order intake and revenue.

Our profitability improved compared to the first quarter of the last year and our cost base is now lower due to earlier implemented cost saving measures. We maintained a strong cash flow (7.2 million) throughout the quarter and currently our cash exceeds our bank debt.