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Financial reports

Note 3

Segment information


Operating segments are reported in a manner consistent with the internal reporting provided to management, including the President.

The management team mainly assesses the business from a geographical perspective but also from a product perspective. The geographic markets areas that are followed up are North America, Europe, Middle East and Africa, Asia, Latin America and Other. Types of products that are followed up are hardware, services and licenses.

 

From January 2011 a new sales organization will come into effect. The new organization consists of the business areas IAM, Access Solutions and Mobile. The types of products that still will be followed up are hardware, services and licenses. 

 

The management team assesses operating segments based on operating profit.

Transfer pricing between the parent company and foreign subsidiaries is based on the Transactional Net Margin Method and the level of profit as Return on Sales, which for 2010 amounted to 5%. Internal sales are mainly between Europe and North America. Internal sales in Sweden are subject to market conditions.

The segment information, concerning the segments for which information should be provided, submitted to management for 2010 is as follows:

 

  North America Europe MiddleEast-Africa Asia Latin America Other Total
  2010 2009 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009 2010 2009
Earnings                            
External sales 21,414 38,075 12,316 14,121 8,458 11,265 1,678 1,038 1,078 4,156 - - 44,944 68,655
                             
Total profit/loss                            
Profit/loss per area 77 11,882 3,229 783 452 4,838 1,345 -2,135 1,078 4,146 231 86 6,412 19,600
Unallocated earnings                         -20,909 -39,876
Operating profit/loss                         -14,497 -20,276
Interest revenue                         37 58
Interest expenses                         -172 -1,550
Tax expenses for the year                         -16 -4
Net profit/loss for the year                         -14,648 -21,772
                           
 
Other information                            
Assets 8,620 13,821 4,750 4,496 - 2,716 - - - - - - 13,370 21,033
Undivided assets                         34,721 52,060
Total assets                         48,091 73,093
Liabilities 1,820 2,759 2,023 1,005 - - - 3 - - - - 3,843 3,767
Undivided liabilities                         13,004 23,918
Total liabilities                         16,847 27,685
Investments                         4,710 1,298
Depreciation                         2,012 2,614

Unallocated earnings reconciled with operating profit/loss:

  Group
  2010 2009
Profit/loss per area 6,412 19,600
Administration expenses -4,701 -12,554
R & D expenses -6,435 -12,092
Selling expenses -8,588 -9,321
Write-down of goodwill in group companies - -4,932
Result from participations in associated companies - -
Other operating expenses -1,185 -977
Operating profit/loss -14,497 -20,276

Unallocated assets reconciled with total assets:

  Group
  2010 2009
Assets per area 13,370 21,033
Liquid assets 24,544 40,884
Other accounts receivable - 1,772
Other receivables 2,809 4,734
Fixed assets 7,368 4,670
Total assets 48,091 73,093
 

Unallocated liabilities reconciled with total liabilities:

  Group
  2010 2009
Liabilities per area 3,843 3,767
Other accounts payable - 6,474
Accrued payroll costs 4,456 5,282
Payroll overhead and other taxes 2,214 2,553
Other accrued expenses 2,561 3,318
Borrowing 3,000 4,490
Provisions 694 1,136
Other liabilities 79 665
Total liabilities 16,847 27,685

Breakdown of sales by product type as follows:

  Products Licenses Services Total
  2010 2009 2010 2009 2010 2009 2010 2009
Income                
External sales 33,708 50,102 6,742 13,121 4,494 5,432 44,944 68,655
                 
Assets 11,842 17,909 688 3,106 840 1,790 13,370 22,805
Investments - - - - - - - -

 

The company’s head office is situated in Lund. Sales to external customers in Sweden amount to SEK 7.0 million (7.3) and sales to external customers in other countries amount to SEK 37.8 million (61.4), of which sales in North America SEK 21.4 million (38.1). Parent revenues from customers in Sweden total SEK 3.9 million (3.2) and revenues from customers in other countries total SEK 34.9 million (54.2), of which revenues from North America SEK 24.1 million (32.7).
 

© Precise Biometrics 2011