2013 ANNUAL RESULTS
Full-year consolidated revenue of $154.6 million, up 27% compared with the previous year (growth of 5% on a normalized basis), on the back of robust Q4 revenue
Strong growth in the adjusted gross margin from 25.8% to 39.0% between 2012 and 2013, with gross profit doubling to $60.3 million
Significant benefits in the results from the Group’s strategic repositioning and restructuring:
- First profitable half-year, at $3.4 million adjusted operating profit in the second half of 2013, trimming the full-year loss to $3.0 million (compared with a loss of $30.1 million in 2012).
- Strong improvement in EBITDA for the first time positive on a full year basis at + $2.8 million in 2013 (from a loss of $25.1 million in 2012).
Aix-en-Provence, France, February 20, 2014 – Inside Secure (NYSE Euronext: INSD), a leader in embedded security solutions for mobile and connected devices, is today reporting its audited consolidated results for the financial year to December 31, 2013. These results were prepared by the Management Board and reviewed by the Supervisory Board on February 19, 2014.
Normalized revenue is defined as the combined revenue of the Inside Secure and ESS businesses, as if the acquisition of ESS had been effective from January 1, 2012 and without taking into account the impact of the purchase price allocation.
Some financial measures and performance indicators are presented on an adjusted basis as defined in Appendix 2 of this press release. They should be considered as additional information, which cannot replace any other strictly accounting-based operating or financial performance measure, as presented in the consolidated financial statements in Appendix 1.