Net Insight

Quarterly Report • Apr 30, 2014

NET INSIGHT INTERIM REPORT JANUARY-MARCH 2014

Net Insight AB [publ] Corporate Reg. No 556533-4397

A Statement from CEO Fredrik Tumegård:

"I can summarize the first quarter of this new year as positive. Sales growth was 19%, and our margins remain robust, with positive earnings and a healthy cash flow."

First Quarter 2014

• Net sales were SEK 74.4 (62.4) million, an increase of 19.3% year on year. The increase is 15.5% in comparable currencies
• Operating earnings was SEK 3.5 (-5.0) million, corresponding to an operating margin of 4.7% (-8.0)
• EBITDA was SEK 3.2 (-8.4) million
• Earnings per share were SEK 0.01 (-0.01)
• Total cash flow was SEK 8.4 (-7.6) million

Net Insight AB discloses the information provided herein pursuant to the Securities Market Act and/ or the Financial Instruments Trading Act. The information was submitted for publication on April 30, 2014 at 08.45 CET.

Net Insight delivers the world's most efficient and scalable transport solution for Broadcast and IP Media, Digital Terrestrial TV and IPTV/CATV networks.

Net Insight products truly deliver 100 percent Quality of Service with three times improvement in utilization of bandwidth for a converged transport infrastructure. Net Insight's Nimbra™ platform is the industry solution for video, voice and data, reducing operational costs by 50 percent and enhancing competitiveness in delivery of existing and new media services.

More than 200 world class customers run mission critical video services over Net Insight products in over 60 countries. Net Insight is quoted on the NASDAQ OMX, Stockholm.

CEO STATEMENT

I can summarize the first quarter of the new year as positive from the perspective of our financial position, as well as positive momentum with our customers. Year-on-year sales growth was 19%, and our margins remain robust, with positive earnings and a healthy cash flow.

Sales growth is based on good repeat business on key accounts like EBU, Arqiva and The Switch. Our largest region, EMEA, achieved marginal growth in the quarter, while APAC is consistent with the previous year's numbers. Americas was the stand-out region in the quarter, with a growth rate of over 50%. The deal we made with The Switch represents a substantial portion of the sales increase in the region, and is the single biggest order Net Insight has secured in its history.

Our deal with The Switch isn't just attractive in terms of its financial value, of over SEK 40 million, but also because the solution The Switch is offering is genuinely innovative on the current media market. The Switch's business model is based on customers paying for actual bandwidth usage, combined with a unique services portfolio that enables the direct connection of a range of media services. This means end-customers are only a click away from starting up a new media service, simplifying traditional workflows and minimizing time and resources.

The market is continuing its progress towards IP-based networks, which offer a raft of benefits but also create network complexity, making management costly and complex for operators. Net Insight is offering a unique solution that facilitates network design, planning and management. Our deal with The Switch demonstrates how we can help deliver innovative solutions for our customers. I hope that we'll be able to support more customers in this direction. We have now launched the 'Simplifying Network Complexities' concept on the market to raise awareness of these benefits.

We also attended the Winter Olympics in Sochi, Russia, in the quarter. Several of our customers delivered media transport from Sochi including ZDF, VGTRK, SRG SSR, Rostelecom and Hibernia Networks. We also delivered project-based services from this event. Because our organization possesses unique competence that combines media and network know-how and an increasing network complexity in general, our customers are showing a greater need for project-based services. Right now, we're focusing on improving our services offering, which is consistent with our ambition of becoming a more sales and marketing-oriented company.

2013 was a challenging for the media market, which also affected Net Insight. However, we see that the market outlook for infrastructure investment looks better in 2014, a belief in the market that is supported by industry analysts.

Stockholm, April 30, 2014 Fredrik Tumegård CEO

EVENTS DURING THE FIRST QUARTER

Market and customers

Sales in the first quarter included a number of large-scale orders on existing accounts including EBU of Switzerland, Arqiva of the UK and GlobeCast of France. Net Insight secured another order from Embratel of Brazil, which will be integrating video services on its current IP/MPLS network, bringing enhanced quality of service (QoS) and lower total cost of ownership (TCO).

The order Net Insight secured from The Switch, worth over SEK 40 million, was its biggest ever. The expansion and upgrade of its media network will deliver video and data services to national sports leagues nationwide in the US. The solution The Switch delivers is a novel and innovative offering enabling endcustomers to purchase needs-based video and data services, and pay for actual bandwidth usage. Additionally, end-customers can plan and start up new media services themselves through an intuitive web user interface.

The Broadcast & Media Networks (BMN) business area provided 87% of total sales, and Digital Terrestrial TV (DTT) provided 8%.

Partner network

Revenues from indirect sales were 28% of total. Net Insight currently has some 50 resellers in its partner network.

Marketing

Net Insight attended its first trade event in Russia at the CSTB expo in January, with partner Kontur-M. New order wins from Russia's leading TV broadcaster VGTRK and its largest telecom operator Rostelecom attracted major visitor and media attention.

Net Insight participated at VidTrans, the yearly US technology conference and expo, where we held a presentation entitled "Meeting IP QoS objectives for Broadcast Services".

Net Insight's largest trade show in the first quarter was CABSAT, the keynote regional show in the Middle East for the media and TV sector, held for the 20th time in the UAE. Net Insight also participated jointly with main distributor NI Systems of China at the China Content Broadcasting Network Exhibition.

Net Insight's primary media coverage in the first quarter related to its deal with The Switch and the changes to management announced in January.

Product launch

The Nimbra 390, the fourth generation of the Nimbra 300 series with enhanced functionality for media transport over IP, launched in the fall, was ready for delivery in March.

SALES AND EARNINGS

Net sales for the first quarter were SEK 74.4 (62.4) million, a 19.3% increase year on year. In comparable currencies, the increase was 15.5%. The revaluation of foreign currency accounts receivable had a marginally positive sales impact, compared to an SEK 0.9 million decrease in the comparable period of the previous year.

Primarily, the sales increase is sourced from Americas, but to some extent, also from the EMEA region. Net Insight secured an order from The Switch in the US in the quarter, worth over SEK 40 million, which will mainly be delivered in 2014. Net Insight completed the first shipment on this order in the first quarter, which combined with increased volumes, mainly to Brazil, contributed to gains in the region. In EMEA, Western Europe achieved good growth, with continued volumes on accounts including EBU and Arqiva. The APAC region is in line with the comparative period.

	Q1	Q1	Q2	Q3	Q4	Q2´13-	Full Year
Amount in SEK million	2014	2013	2013	2013	2013	Q1´14	2013
EMEA	45,1	42,1	46,8	45,8	50,5	188,2	185,2
Americas	24,4	15,3	18,6	16,2	22,0	81,0	72,0
APAC	5,0	5,0	7,3	5,0	6,3	23,6	23,6
Totalt	74,4	62,4	72,7	66,9	78,8	292,8	280,8

NET SALES PER REGION

Net sales in the BMN business area were 87% (68) of total, with DTT providing 8% (27). Cable TV & IPTV provided 5% (5) of sales.

Hardware sales were SEK 49.8 (43.9) million. Sales of software licenses fell by SEK 1.4 million to SEK 6.1 (7.5) million, and support and services increased to SEK 18.3 (11.8) million. The increase in services sales is a combination of increased revenues for support, leasing and other services. The above figures include other operating revenue of SEK 0.2 (-0.8) million, consisting of revaluation of foreign currencydenominated accounts receivable.

As stated in the summary income statement on page 11, Net Insight's gross margin is 58.2% (55.8). First and foremost, the improvement is due to increased volumes, which cover the expenses for the depreciation of capitalized development expenditures, and to a lesser extent, a stronger Euro than in the comparative period of the previous year. Adjusted for the depreciation of capitalized expenditures for R&D, gross margin increased by 1.2 percentage points to 74.5% (73.3).

Total operating expenses for the first quarter were SEK 39.8 (39.8) million. Somewhat lower sales and marketing expenses were offset by a modest increase in administration expenses. Development expenses were SEK 8.8 (8.2) million, and total development expenditures amounted to SEK 21.8 (23.1) million.

Operating earnings was SEK 3.5 (-5.0) million, corresponding to an operating margin of 4.7% (-8.0). The increase primarily relates to higher volumes.

EBITDA, as shown in the condensed income statement on page 11, was SEK 3.2 (-8.4) million. The improvement is primarily related to improved sales volumes and to a lesser extent reduced development expenditures.

Net financial items were SEK 0.2 (0.3) million.

Earnings before tax was SEK 3.7 (-4.7) million, equating to a profit margin of 5.0% (-7.5).

Net income was SEK 2.2 (-4.6) million, resulting in a net margin of 2.9% (-7.3).

Remaining deductible loss carry-forwards for group companies were SEK 207.9 million.

CASH FLOW AND FINANCIAL POSITION

Cash flow for the first quarter was SEK 8.4 (-7.6) million. Primarily, the positive cash flow is due to an improved net cash flow from operating activities.

Cash and cash equivalents at the end of the quarter were SEK 212.1 (178.3) million.

Equity was SEK 496.4 (498.8) million, with an equity/assets ratio of 87.6% (87.7)

INVESTMENTS

Investment in tangible fixed assets in the first quarter was SEK 0.3 (0.0) million and the depreciation was SEK 0.4 (0.4) million. Investment in other intangible assets was SEK 0.0 (0.0) million and depreciation was SEK 0.2 (0.3) million. Capitalization of development expenditures was SEK 13.0 (15.0) million. Depreciation of capitalized development expenditures was SEK 12.1 (10.9) million.

At the end of the period, the net book value of capitalized development expenditures was SEK 185.0 (187.2) million.

EMPLOYEES

At the end of the quarter, Net Insight had 140 employees (146). Parent company Net Insight AB had 127 employees (135), Net Insight Intellectual Property AB had 4 (5), Net Insight PTE. Ltd. had 4 (0) and US subsidiary Net Insight Inc. had 5 (6).

PARENT COMPANY

Parent company net sales in the first quarter were SEK 96.7 (86.0) million. Net income was SEK 4.9 (0.2) million.

RISK AND SENSITIVITY ANALYSIS

Net Insight's operations and results of operations are affected by a number of external and internal factors. The company conducts a continuous process to identify all risks present, and to assess how each risk should be managed.

Primarily, those risks the company is exposed to are market-related risks (including competition, technological progress and political risks), operational risks (including product liability, intellectual property, disputes, customer dependency and contract risks) as well as financial risks.

No additional critical risks and uncertainty factors other than those reviewed in the Annual Report for 2013 arose in the first quarter.

For a complete review of the company's risk and sensitivity analysis, and its risk management process, see page 23 of the Annual Report for 2013.

SEASONALITY

In the past three calendar years, average seasonality has been fairly modest. In the first quarter, net sales were 24%, in the second quarter 26%, in the third quarter 23%, and in the fourth quarter 27% of yearly sales.

KEY FIGURES

	Q1	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Jan-Mar	Jan-Mar
	2014	2013	2013	2013	2013	2012	2012	2012	2014	2013
Net sales, kSEK	74 428	78 798	66 916	72 690	62 395	68 324	60 302	75 038	74 428	62 395
Profit/loss after financial items, kSEK	3 699	-13 813	4 724	6 137	-4 670	-1 302	-2 925	4 068	3 699	-4 670
Earnings per share, SEK	0,01	-0,03	0,01	0,01	-0,01	-0,01	-0,01	0,03	0,01	-0,01
Cash flow from operations per share, SEK	0,02	0,05	0,05	-0,04	-0,02	-0,01	-0,02	0,04	0,02	-0,02
Return on capital employed (%)	0,8%	-2,6%	0,9%	1,2%	-0,9%	-0,3%	-0,6%	0,8%	0,8%	-0,9%
Return on equity (%)	0,4%	-2,2%	0,6%	0,8%	-0,9%	-0,5%	-0,7%	2,5%	0,4%	-0,9%
Equity per share, SEK
- before dilution, SEK	1,27	1,27	1,30	1,29	1,28	1,29	1,30	1,31	1,27	1,28
- after dilution, SEK	1,27	1,27	1,30	1,29	1,28	1,29	1,30	1,31	1,27	1,28

CONSOLIDATED INCOME STATEMENT

	Q1	Q1	Q2'13-Q1'14	Full Year
Amount in SEK thousands	2014	2013	12 months	2013
Net sales	74 428	62 395	292 831	280 798
Cost of goods & service sold	-31 117	-27 549	-127 884	-124 316
Gross earnings	43 311	34 846	164 947	156 482
Sales and marketing expenses	-23 877	-25 054	-103 617	-104 794
Administration expenses	-7 164	-6 599	-23 499	-22 934
Development expenses	-8 776	-8 166	-39 033	-38 423
Operating earnings	3 494	-4 973	-1 202	-9 669
Net financial items	205	303	1 949	2 047
Earnings before tax	3 699	-4 670	747	-7 622
Tax	-1 505	100	-3 222	-1 617
Net income	2 194	-4 570	-2 475	-9 239
Net income for the period attributable to the stockholders of the parent company	2 194	-4 570	-2 475	-9 239

Earnings/loss per share, based on net profit attributable to the parent company's shareholders during the period (in SEK per share)
Earnings per share before dilution	0,01	-0,01	-0,01	-0,02
Earnings per share after dilution	0,01	-0,01	-0,01	-0,02
Average number of shares in thousands before dilution	389 933	389 933	389 933	389 933
Average number of shares in thousands after dilution	389 933	389 933	389 933	389 933

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Amount in SEK thousands
Net income	2 194	-4 570	-2 475	-9 239
Other comprehensive income
Items that may be reclassified subsequently to the income statement
Exchange rate differences	34	-2	22	-14
Total other comprehensive income, net after tax	34	-2	22	-14
Total comprehensive income for the period	2 228	-4 572	-2 453	-9 253
Total comprehensive income for the period attributable to the
stockholders of the parent company	2 228	-4 572	-2 453	-9 253

CONSOLIDATED CASH FLOW STATEMENT

	Q1		Q1 Q2´13-Q1´14	Full Year
Amount in SEK thousands	2014	2013	12 months	2013
Ongoing operations
Net income before tax	3 698	-4 670	746	-7 622
Depreciation	12 739	11 568	49 891	48 720
Other items not affecting liquidity	32	-2	17 399	17 365
Cash flow from ongoing operations
before change in working capital	16 469	6 896	68 036	58 463
Change in working capital
Increase-/decrease+ in inventories	1 992	-3 207	1 272	-3 927
Increase-/decrease+ in receivables	-2 482	-2 452	8 955	8 985
Increase+/decrease- in current liabilities	5 735	6 179	2 531	2 975
Cash flow from ongoing operations	21 714	7 416	80 794	66 496
Investment activity
Investments in intangible fixed assets	-13 010	-14 955	-45 694	-47 639
Investments in tangible fixed assets	-308	-46	-1 188	-926
Increase-/decrease+ in long-term receivables	1	2	-56	-55
Cash flow from investment activity	-13 317	-14 999	-46 938	-48 620
Increase/decrease in liquid funds	8 397	-7 583	33 856	17 876
Liquid funds, opening balance	203 731	185 855	178 272	185 855
Liquid funds, closing balance	212 128	178 272	212 128	203 731

CONSOLIDATED BALANCE SHEET

Amount in SEK thousands		Mar 31, 2014 Mar 31, 2013 Dec 31, 2013
ASSETS
Intangible assets
Capitalized expenditure for development	184 961	187 185	184 072
Goodw ill	4 354	4 354	4 354
Other intangible assets	1 100	2 180	1 340
Tangible fixed assets
Equipment	4 285	4 613	4 354
Financial assets
Deferred tax asset	35 598	38 819	37 102
Deposits paid, long-term	262	206	263
Total fixed assets	230 560	237 357	231 485
Current assets
Inventory	40 612	53 251	42 604
Customer receivables	72 252	88 441	70 653
Other receivables	11 398	11 429	10 515
Cash and bank balances	212 128	178 272	203 731
Total current assets	336 390	331 393	327 503
Total assets	566 950	568 750	558 988
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity
Share capital	15 597	15 597	15 597
Other contributed capital	1 192 727	1 192 727	1 192 727
Translation difference	-1 920	-1 942	-1 954
Accumulated deficit	-710 024	-707 549	-712 218
Total shareholders' equity	496 380	498 833	494 152
Long-term liabilities
Provisions	3 124	3 381	2 943
Total long-term liabilities	3 124	3 381	2 943
Current liabilities
Accounts payable	12 440	20 676	14 535
Other liabilities	55 006	45 860	47 359
Total current liabilities	67 446	66 536	61 894
Total liabilities and equity	566 950	568 750	558 989

CHANGES IN GROUP SHAREHOLDERS' EQUITY

		Other			Total
	Share	contributed	Translation	Accumulated	shareholders'
Amount in SEK thousands	capital	capital	difference	deficit	equity
2013-01-01	15 597	1 192 727	-1 940	-702 979	503 405
Total comprehensive income	0	0	-2	-4 570	-4 572
2013-03-31	15 597	1 192 727	-1 942	-707 549	498 833
2013-04-01
Total comprehensive income	0	0	-12	-4 669	-4 681
2013-12-31	15 597	1 192 727	-1 954	-712 218	494 152
2014-01-01	15 597	1 192 727	-1 954	-712 218	494 152
Total comprehensive income	0	0	34	2 194	2 228
2014-03-31	15 597	1 192 727	-1 920	-710 024	496 380

SEGMENT REPORT

	Q1 2014			Q1 2013
Amount in SEK million	EMEA	APAC	AM	Total	EMEA	APAC	AM	Total
Net Sales	45	5	24	74	42	5	15	62
Regional Contribution	14	0	6	19	8	-1	2	10
Regional Contribution (%)	31%	-7%	24%	26%	19%	-15%	16%	15%
Adjusted for R&D Depreciation	7	1	4	12	7	1	3	11
Adjusted Regional Contribution	21	0	10	32	15	0	5	21
Adjusted Regional Contribution (%)	47%	9%	40%	42%	36%	5%	35%	33%

Regional Contribution is defined as Gross earnings less Sales and Marketing expenses. AM is short for Americas.

CONDENSED CONSOLIDATED INCOME STATEMENT

						Full Year
Amount in SEK, millions	Q1 2014	Q1 2013	Q2 2013	Q3 2013	Q4 2013	2013
Net Sales	74,4	62,4	72,7	66,9	78,8	280,8
Gross earnings	43,3	34,8	46,7	38,5	36,5	156,5
Gross margin	58,2%	55,8%	64,2%	57,5%	46,3%	55,8%
Operating earnings	3,5	-5,0	5,7	3,9	-14,3	-9,7
Operating margin	4,7%	-8,0%	7,9%	5,8%	-18,1%	-3,4%
Earnings before tax	3,7	-4,7	6,1	4,7	-13,8	-7,6
Net income	2,2	-4,6	3,9	2,9	-11,6	-9,2
Net margin	2,9%	-7,3%	5,5%	4,4%	-14,7%	-3,3%
EBITDA	3,2	-8,4	5,8	8,3	-14,3	-8,6

EBITDA

						Full Year
Amount in SEK, millions	Q1 2014	Q1 2013	Q2 2013	Q3 2013	Q4 2013	2013
Operating earnings	3,5	-5,0	5,7	3,9	-14,3	-9,7
Depreciation of capitalized development expenditures	12,1	10,9	11,4	11,8	11,9	46,1
Other depreciation	0,6	0,7	0,7	0,7	0,7	2,6
Capitalized development expenditures	-13,0	-15,0	-12,0	-8,1	-12,6	-47,6
EBITDA	3,2	-8,4	5,8	8,3	-14,3	-8,6

EBITDA - Operating earnings before depreciation and capitalization of development expenditures

PARENT COMPANY INCOME STATEMENT

	Q1	Q1	Q2'13-Q1'14	Full Year
Amount in SEK thousands	2014	2013	12 months	2013
Net Sales	96 740	86 007	385 058	374 325
Cost of goods & services sold	-35 690	-33 469	-150 706	-148 485
Gross earnings	61 050	52 538	234 352	225 840
Sales and marketing expenses	-19 930	-21 724	-86 632	-88 426
Administration expenses	-14 460	-9 114	-45 798	-40 452
Development expenses	-20 241	-21 736	-83 943	-85 438
Other expenses	0	0	0	0
Operating earnings	6 419	-36	17 979	11 524
Net financial items	93	168	-108 369	-108 294
Earnings before tax	6 512	132	-90 390	-96 770
Tax	-1 578	38	-8 786	-7 170
Net income	4 934	170	-99 176	-103 940

PARENT COMPANY BALANCE SHEET

Amount in SEK thousands		Mar 31, 2014 Mar 31, 2013 Dec 31, 2013
ASSETS
Intangible assets
Other intangible assets	1 100	2 180	1 340
Tangible fixed assets
Equipment	4 285	4 613	4 354
Financial assets
Shares in group companies	117 427	117 427	117 427
Deferred tax asset	17 556	26 342	19 134
Deposits paid, long-term	262	206	263
Total fixed assets	140 630	150 768	142 518
Current assets
Inventory	40 612	53 251	42 604
Customer receivables	72 252	88 441	70 653
receivables, subsidiaries	334 979	431 507	331 003
Other receivables	11 293	12 230	9 906
Cash and bank balances	176 009	137 244	167 499
Total current assets	635 145	722 673	621 665
Total assets	775 775	873 441	764 183
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity
Restricted shareholders' equity
Share capital	15 597	15 597	15 597
Other contributed capital	112 822	112 822	112 822
Non-restricted equity
Share premium reserve	51 296	51 296	51 296
Retained earnings	507 528	611 467	611 467
Net Income	4 934	170	-103 940
Total shareholders' equity	692 177	791 352	687 242
Long-term liabilities
Other provisions	3 124	3 131	2 542
Total long-term liabilities	3 124	3 131	2 542
Current liabilities
Accounts payable	12 218	20 488	14 362
Liabilitis, subsidiaries	15 278	15 280	15 278
Other liabilities	52 978	43 190	44 759
Total current liabilities	80 474	78 958	74 399
Total liabilities and equity	775 775	873 441	764 183

ADDITIONAL INFORMATION

This Interim Report has been prepared in accordance with IAS 34 Interim Financial Reporting and applicable regulations of the Swedish Annual Accounts Act. The Interim Report of the parent company complies with chapter 9 of the Swedish Annual Accounts Act for interim financial reports. The same accounting policies have been applied consistently as in the annual accounts for 2013. The annual accounts include a review of these accounting policies, apart from those stated below.

There are no IFRS or IFRIC interpretation statements that apply for the first time for annual periods beginning 1 January 2014 or later, that are expected to have a significant impact on the group.

This Report has not been reviewed by the company's auditor.

ANNUAL GENERAL MEETING

The Annual General Meeting will be held May 8, 2014, at 10:00 am at Net Insight's office in Stockholm.

Shareholders who are entered in the share register kept by the Securities Register Center (EuroClear Sweden AB) on May 2, 2014 and apply to the Company no later than May 2, 2014 are entitled to attend and vote at the Annual General Meeting.

Applications to participate may be sent to the address Net Insight AB, Box 42093, 126 14 Stockholm or by telephone to +46 (0) 8 685 04 00 or by fax to +46 (0) 8 685 04 20 or by e-mail to agm@netinsight.net.

The Annual Report 2013 is published on www.netinsight.net. Please download the Annual Report from the website or order a printed version on e-mail: info@netinsight.net or call +46 8 685 04 00.

DIVIDEND

The Board proposes that the AGM resolves that no dividend be paid for the financial year 2013.

THIS IS NET INSIGHT

Business concept and model

Net Insight's business concept is to develop, market and sell products to public and private network owners that need high-quality transport for media-rich traffic. Revenue is generated through direct and indirect sales of products and licenses, support and maintenance services, installation services and training.

Strategy

Net Insight's objective is to grow faster than the market with good profitability. Net Insight's growth strategy is based on five pillars: segment focus, geographical expansion, indirect sales model, leverage of existing customer base by a broader product portfolio and partnerships with service providers.

Value Drivers

Net Insight benefits from the general increase in video traffic such as higher consumption of mobile and broadband TV, e.g OTT, adoption of remote workflows and production as well a wider coverage of live events. An important driver is also the conversion to new TV formats in the broadcast and media industry.

REPORTING DATES

Annual General Meeting 8 May, 2014 Interim report January-June 2014 22 July, 2014 Interim report January-September 2014 28 October, 2014

Stockholm, April 30, 2014

Fredrik Tumegård CEO

For more information, please contact:

Fredrik Tumegård, CEO Net Insight AB Tel: +46 (0) 8-685 04 00, email: fredrik.tumegard@netinsight.net

Thomas Bergström, CFO, Net Insight AB Tel: +46 (0) 8-685 06 05, email: thomas.bergstrom@netinsight.net

Net Insight AB Box 42093 126 14 Stockholm Tel +46 (0) 8 685 04 00 www.netinsight.net Corporate Reg. No. 556533-4397

Net Insight AB • Box 42093 • SE-126 14 Stockholm • Sweden Phone: + 46 (0)8 685 04 00 • Fax: + 46 (0)8 685 04 20 • E-mail: ir@netinsight.net