Legal Proceedings Report • Nov 16, 2010
Legal Proceedings Report
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Press release Lund, November 16, 2010 page 1 of 1
In Doro's report for the third quarter of 2010, the company stated that increased sales volumes and the delayed recovery of VAT in France were the principal causes behind Doro's reported negative cash flow of SEK 21.2 m.
The delay arose due to a change in procedures in connection with the Doro Group's transition to its new streamlined organization and legal structure as of January 1, 2010. The VAT receivable in France, which amounted to SEK 23.8 m, has now been repaid to Doro in full. Following this, the Group's future VAT procedures in France are expected to have been normalized.
This is information that Doro AB (publ) is required to publish in accordance with the Swedish Securities Markets Act and/or the Swedish Financial Trading Act. This information was submitted for publication on Tuesday, November 16, 2010 at 11.00 am CET.
About Doro
Doro is a Swedish company focusing on the development, marketing and sales of telecom products specially adapted to the growing worldwide population of seniors. With over 35 years of experience in telecommunications, and sales in more than 30 countries on 5 continents. Doro is the world's leading brand for easy-to-use mobile phones. Doro created the Care Electronics category and in recent years the products have received several highly distinguished international design awards. The company had sales of SEK 493 m in 2009. Doro's shares are quoted on the OMX Nasdaq OMX Stockholm, Nordic list, Small companies. Read more about Doro at www.doro.com
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