Kamerabevakningsföretaget Mindmancer vinstvarnar for the fourth quarter of 2016.
Mindmancer vinstvarnar because the outcome will be materially worse than the “previous period”, something ceo Marcus Bäcklund specifies to the third quarter of 2016 in conversation with the News agency Directly.
“We think the Q3 and really the whole of the period Q1-Q3,” he says and continues with “Q4 is going to be substantially much worse” than each of these quarters.
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Mindmancers operating income (ebitda, that is the Marcus Bäcklund mention) for the third quarter was 0.2 million, while the same measure was 0.6 million during the second quarter and minus 0.4 million in the first.
The deterioration in earnings was attributable to “changes in accounting policies regarding, certificates of completion, review of the customer base, the weak order intake and switching costs,” writes the company in a press release.
“Review of customer base” means, according to Marcus Bäcklund that a review of the profitability of the customers is made, and to those that are not profitable may need to be cleaned out.
“We will continue the extensive cleaning and restructuring of the company, which started in January, where our goal is to return the company to solid profitability and positive cash flow. We have a good opportunity in this change where we stand on a strong balance sheet,” comments ceo Marcus Bäcklund.
Mindmancer lose about 12 per cent on Wednesday’s stockholm exchange after the profit warning.