ZetaDisplay (NASDAQ OMX First North Premier) reported sales of SEK 16.8m (17.6) in Q4 2013, representing a decrease of 4% compared to the same period the year before. The company indicated that the influx of inquiries from new customers had been good during the quarter, but did not match the same period of the previous year. Gross margin increased during the quarter and amounted to 52 %, compared with 47 % in the previous year.
Operating profit amounted to SEK -2.0m (-1.2), which was somewhat below their estimate of SEK 2m. The company states that its international expansion was the primary reason for the slightly higher cost base. Profit after tax amounted to SEK -2.1m (3.2).
ZetaDisplay announced that it was lowering its estimates for 2014 EPS – given somewhat lower sales and a higher cost base from the company’s expansion in Europe not previously anticipated, though they do expect profit in 2014.
ZetaDisplay is traded at P/E 5.9x