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GomSpace (Provider of Nanosatellites) Announces its Quarterly Results for the First Quarter 2020

STOCKHOLM, April 23, 2020 /PRNewswire/ -- GomSpace Group AB (the "Company") announces its interim report for the first quarter of 2020. The report is available on the Company's homepage (www.gomspace.com). The following is taken from the quarterly report:First quarter summary 1 January - 31 March 2020 (2019)

Order intake increased to T.SEK 18,448 (14,788)



Net revenues increased to T.SEK 40,455 (29,877)



Gross margin increased to 24% (1%)



Operating profit (loss) improved to a negative T.SEK 8,478 (a negative 27,630)



Earnings per share were a negative SEK 0.14 (a negative 0.58)

Events

GomSpace leads development of a teaming agreement to demonstrate game-changing communications technology in space with the University of Arizona, and American FreeFall Aerospace and Rincon ResearchA A A A A A A A A A A 

"The first quarter of 2020 shows the positive outcome of the cost reduction program which we undertook in 2019. The revenue increased by 35% from SEK 29.9 million to SEK 40.5 million, the gross margin increased from 1% to 24% and the cash flow went from SEK -44.6 million to SEK -7.1 million. The order booking has increased by 25% from SEK 14.8 million to SEK 18.4 million which is slightly less than expected. However, we will maintain the outlook for the year.
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