Brief: Net Insight Reduces Costs And Makes Organizational Change

Net Insight AB

16/01/2019 14:10

Jan 16 (Reuters) - Net Insight AB  NETIb.ST :
    * REG-NET INSIGHT PRESENTS MEASURES FOR STRENGTHENED
PROFITABILITY
    * TODAY ANNOUNCES THAT COMPANY REDUCES COSTS AND MAKES A
MINOR
ORGANIZATIONAL CHANGE.
    * OPERATING PROFIT FOR Q4 WILL BE CHARGED WITH APPROXIMATELY
SEK
43 MILLION
    * COSTS ARE EXPECTED TO DECREASE BY ABOUT SEK 25 MILLION
ANNUALLY
AND ALSO MEANS CERTAIN CHANGES IN EXECUTIVE MANAGEMENT
    * OPERATING PROFIT FOR Q4 WILL BE CHARGED WITH APPROXIMATELY
SEK
43 MILLION FOR PROVISIONS AND WRITE-DOWNS
    * ORGANIZATIONAL CHANGES WILL BE EFFECTIVE FROM FEBRUARY 1,
2019
    * COSTS FOR STAFF REDUCTIONS ARE EXPECTED TO AFFECT
OPERATING
PROFIT FOR Q1 OF 2019 BY SEK 3 - 5 MILLION.
    * SAYS ORGANIZATIONAL CHANGES WILL BE EFFECTIVE FROM
FEBRUARY 1,
2019
    * JOINT SALES ORGANIZATION IS RIGHTSIZED AND TRANSFERRED TO
VARIOUS PRODUCT UNITS
    * MANAGEMENT, ADMINISTRATION AND OTHER FUNCTIONS WILL BE
RATIONALIZED
    * PRELIMINARY SALES AND OPERATING PROFIT FOR Q4, ARE
ESTIMATED AT
SEK 106 MILLION AND SEK -58 MILLION RESPECTIVELY
    * TOTAL OF ABOUT 20 PEOPLE ARE AFFECTED GLOBALLY
    * "WE CONTINUE TO HAVE A POSITIVE VIEW ON OUTLOOK FOR OUR
SOLUTIONS."
    * "FOR SCHEDUALL, WE SEE A SOLID POTENTIAL AND ARE
INCREASING
FOCUS ON DEVELOPMENT."
    * SAVINGS PROGRAM WILL BE COMPLETED DURING Q1 OF 2019

Source text for Eikon:  ID:nGNE6j4XNV 
Further company coverage:  NETIb.ST 

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