Net Insight

Quarterly Report • Apr 29, 2015

Interim report Net Insight January – March 2015

Net Insight AB (publ) reg.no 556533–4397

Statement from our CEO Fredrik Tumegård:

"Sales were up by 18 per cent year-on-year. Gross margin was 60 per cent and operating margin 7 per cent. Although a positive currency effect represents the total growth, this remains our strongest first quarter on record and I expect our growth to continue over time, albeit not always at a smooth pace. Cash flow remains positive and we have the liquidity required to act should we spot an acquisition target that fits our strategy."

THE FIRST QUARTER 2015

• Net sales were SEK 87.7 (74.4) million, an increase of 17.9 per cent in comparison with the same period previous year. In comparable currencies, the increase is 0.3 per cent.
• Operating earnings were SEK 6.2 (3.5) million, corresponding to an operating margin of 7.0 per cent (4.7).
• Total cash flow was SEK 10.6 (8.4) million.

ì South Africa's Sentech has selected Net Insight´s transport solution for Digital Terrestrial TV Network.

ì China Unicom has selected Net Insight´s solution for video transport.

ì We won a prestigious order with the purpose of supporting the TV company Al Jazeera in the growing region of the Middle East.

SEK millions	Jan-Mar 2015	Jan-Mar 2014	Change	Apr 2014- Mar 2015	Jan-Dec 2014	Change
Net sales by region per region
EMEA	44,0	45,0	-2,2%	184,2	185,2	-0,5%
Americas	35,7	24,4	46,1%	179,7	168,4	6,7%
APAC	8,1	5,0	61,9%	28,6	25,5	12,1%
Total net sales	87,7	74,4	17,9%	392,4	379,1	3,5%
Operating earnings	6,2	3,5	76,2%	56,2	53,6	5,0%
Operating Margin	7,0%	4,7%	-	14,3%	14,1%	-
Net Income	4,0	2,2	82,4%	43,3	41,5	4,4%
EBITDA	7,7	3,2	139,2%	71,5	67,1	6,7%
EBITDA Margin	8,8%	4,3%	-	18,2%	17,7%	-
Diluted and Basic EPS (SEK)	0,01	0,01	82,4%	0,11	0,11	4,4%
Total Cash Flow	10,6	8,4	25,7%	92,7	90,6	2,4%

CEO statement

The year came off to a very good start with net sales of SEK 88 million, an increase on the corresponding period last year and our strongest first quarter on record. We're very pleased with the result. Following the solid growth in 2014, I anticipated a recoil at the beginning of the year, but this hasn't materialized yet. We're a growth company, and growth doesn't always follow a smooth trajectory.

Sales were up by 18 per cent year-on-year. Gross margin was 60 (58) per cent and operating margin 7 (5) per cent. Although a positive currency effect represents the total growth, this remains our strongest first quarter on record and I expect the growth to continue over time, albeit not always at a smooth pace. Cash flow remains positive and we have the liquidity required to act should we spot an acquisition target that fits our strategy.

We're now focusing on increased investments in marketing and getting closer to our customers. This means a slight build-up in our cost base and I consider these cost increases to be both manageable and justified, as investment is needed in order to grow.

A good proof point to us having long-term relations with our key customers is that we received a number of follow-up orders in the quarter from US company The Switch, the European Broadcasting Union, TATA Communications of India and Swedish company Teracom. As I indicated in the previous interim report, The Switch offers a service that enables media companies to order precisely the transmission capacity they need. This kind of customized online service —Customer Provisioned Networks—is a very promising solution that I'm convinced is set to grow, as there's substantial demand for services where ordering is made simple and with easy access to network capacity for moving images with high-quality content in real time. We also won a prestigious order from TV company Al Jazeera, which I believe could improve our prospects in the growing Gulf region.

Our products are our strength, and this means that we're working to strengthen our position in other areas, not least in developing our service offering. I would like to see every major product order being followed up with a number of smaller service deals, and that we're able to continue to deliver services throughout the product lifecycle. We need to have longer and closer customer relationships, with partnerships as our long-term goal. This would make us less sensitive to the exact timing of major transactions.

In January, we held our annual sales conference focusing on how we better can meet the need of the customer, which concluded with a kick-off event where the renewal of our vision and brand took center stage. The branding process continues, and the results will start to be presented during the year. If we're to become a world-class company —and we are —our brand must be recognizable but also associated with the values and characteristics that we represent and that we think the market needs.

I'm not making any forecasts, but we're working hard to ensure long-term growth, even if individual quarters will vary. I believe we have a strong product offering that's needed by a growing and increasingly demanding moving image market. Our challenge is gaining more recognition and to understand the need of the customer in a better way. Sales isn't just about waiting to receive orders, but also about actively seeking out new markets and customers, continue to tailoring our products and service offering, gaining customer confidence and delivering our offering at the high standard our customers are entitled to and expect from us.

Stockholm, April 2015

Fredrik Tumegård, CEO

" We won a prestigious order with the purpose of supporting the TV company Al Jazeera, which I believe could improve our prospects in the growing Gulf region.

5 0 100 150 200 250 300 350 400 450 0 20 40 60 80 100 120 Q1'13 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 MSEK rolling four quarters MSEK by quarter Net sales by region EMEA Americas APAC Rolling four quarters

0% 10% 20% 30% 40% 50% 60% 70% 80% 0 20 40 60 80 100 120 Q2'13 Q3'13 Q4'13 Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 MSEK Net sales by product group Hardware Software Customer Services Hardware rolling four quarters % Software rolling four quarters % Customer Services rolling four quarters %

0
80%	Key Ratios	Jan-Mar	Jan-Mar
70%		2015	2014
60%	Net sales, SEK millions Gross margin	87,7 60,1%	74,4 58,2%
50%	Operating margin	7,0%	4,7%
40%	Opex/Net sales EBITDA margin	53,1% 8,8%	53,5% 4,3%
30%

FARNINGS

Three months

Gross margin improved as a result of positive exchange rate effects, amounting to 60.1 (58.2) per cent.

Operating expenses increased by SEK 6.8 million to SEK 46.6 (39.8) million, corresponding to 53.1 (53.5) per cent of sales. The increase is mainly due to the market communication initiatives plus sales and support functions introduced last year. Costs for partnership commission also increased in the quarter, while the results of a weaker SEK also started feeding through.

Operating profit was SEK 6.2 (3.5) million, corresponding to an operating margin of 7.0 (4.7) per cent. The improved operating profit is due to increased net sales.

EBITDA was SEK 7.7 (3.2) million, as shown in Financial Information on page 6, corresponding to an EBITDA margin of 8.8 (4.3) per cent.

Net financial income/expense was negative at SEK -0.5 [0.2] million, due to exchange rate differences from revaluation of intra-group receivables and liabilities in foreign currencies.

Net income was SEK 4.0 (2.2) million, resulting in a net margin of 4.6 (2.9) per cent.

Remaining tax losses carry-forward for group companies were SEK 106.5 million.

CASH FLOW AND FINANCIAL POSITION

Cash flow for the first quarter was SEK 10.6 (8.4) million. The cash flow is a result of operating profit for the period and a minor reduction in working capital.

Cash and cash equivalents were SEK 304.9 (212.1) million at the end of the quarter.

Equity was SEK 541.8 (496.4) million with an equity/assets ratio of 87.5 (87.6) per cent.

INVESTMENTS

First-quarter investments were SEK 12.6 (13.3) million, of which SEK 12.1 (13.0) million related to capitalization of R&D expenditure. Depreciation and amortization in the period was SEK 13.7 (12.7) million, of which SEK 13.1 (12.1) million related to amortization of capitalized R&D expenditure.

At the end of the period, the net value of capitalized R&D expenditure was SEK 172.1 MSEK (185.0).

FMPI OYFFS

At the end of the quarter, Net Insight had 138 (140) employees, of which 123 (127) were employed by the parent company, Net Insight AB (publ).

PARENT COMPANY

Parent company net sales in the first quarter were SEK 110.5 (96.7) million and net income for the period was SEK 6.3 (4.9) 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 disputes. property, 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 2014 arose in the first quarter.

For a complete review of the company's risk and sensitivity analysis, and its risk management process, see page 21 of the Annual Report for 2014.

SEASONALITY

In the past three calendar years, average seasonality has been fairly modest. In the first quarter, net sales were 23 per cent, in the second quarter 26 per cent, in the third quarter 25 per cent, and in the fourth quarter 26 per cent of yearly sales.

FINANCIAL INFORMATION

	Jan-Mar	Jan-Mar	Apr-Jun	Jul-Sep	Oct-Dec	Apr 2014-	Jan-Dec
SEK millions (if not defined differently)	2015	2014	2014	2014	2014	Mar 2015	2014
Net sales by region
EMEA	44,0	45,0	36,4	49,4	54,4	184,2	185,2
Americas	35,7	24,4	59,6	52,9	31,5	179,7	168,4
APAC	8,1	5,0	4,7	9,9	5,9	28,6	25,5
Net sales	87,7	74,4	100,7	112,2	91,8	392,4	379,1
Net sales YoY, change in %	17,9%	19,2%	38,5%	67,7%	16,5%	34,0%	35,0%
Income statement
Gross earnings	52,7	43,3	60,1	75,4	53,2	241,4	232,0
Gross margin	60,1%	58,2%	59,6%	67,2%	58,0%	61,5%	61,2%
Operating expenses	46,6	39,8	47,0	43,9	47,6	185,1	178,4
Opex/Net sales	53,1%	53,5%	46,7%	39,1%	51,9%	47,2%	47,1%
Operating earnings	6,2	3,5	13,0	31,4	5,6	56,2	53,6
Operating margin	7,0%	4,7%	12,9%	28,0%	6,1%	14,3%	14,1%
Profit/loss after financial items	5,6	3,7	13,4	32,0	5,9	57,0	55,1
Net Income	4,0	2,2	9,9	24,7	4,7	43,3	41,5
Net margin	4,6%	2,9%	9,8%	22,1%	5,1%	11,0%	10,9%
EBITDA
Operating earnings	6,2	3,5	13,0	31,4	5,6	56,2	53,6
Amortization of capitalized R&D expenditure	13,1	12,1	13,3	13,4	13,1	52,9	51,9
Other depreciation & amortization	0,6	0,6	0,6	0,6	0,6	2,4	2,4
Capitalization of R&D expenditure	-12,1	-13,0	-8,3	-8,2	-11,3	-40,0	-40,9
EBITDA	7,7	3,2	18,6	37,2	8,0	71,5	67,1
EBITDA margin	8,8%	4,3%	18,5%	33,1%	8,7%	18,2%	17,7%
Balance sheet
Working capital	35,5	68,7	63,4	61,7	45,1	50,3	59,5
Working capital/Net sales	40,5%	92,3%	63,0%	55,0%	49,1%	12,8%	15,7%
Return on capital employed	1,1%	0,8%	2,7%	6,2%	1,1%	11,1%	10,7%
Equity/asset ratio	87,5%	87,6%	84,4%	85,9%	86,1%	86,3%	86,0%
Return on equity	0,8%	0,4%	2,0%	4,8%	0,9%	8,5%	8,0%
Cash and cash equivalents	304,9	212,1	217,6	273,1	294,3	304,9	294,3
Total cash flow	10,6	8,4	5,4	55,6	21,2	92,7	90,6
The share
Dividend per share, SEK	-	-	-	-	-	-	-
Earnings per share diluted and basic, SEK	0,01	0,01	0,03	0,06	0,01	0,11	0,11
Cash flow per share, SEK	0,03	0,02	0,01	0,14	0,05	0,24	0,23
Equity per share diluted and basic, SEK	1,39	1,27	1,30	1,36	1,38	5,43	1,38
Average number of shares at the end of the period, in
thousands	389 933	389 933	389 933	389 933	389 933	389 933	389 933
Employees
No. of employees at the end of the period	138	140	136	137	134	138	134

Definitions

EM EA Europe, M iddle-East and Africa

Americas North and South America

APAC Asia-Pacific region

Gross margin Gross earnings as a percentage of net sales.

Operating margin Operating earnings as a percentage of net sales.

Net margin Net Income as a percentage of net sales.

EBITDA Operating earnings before amortization of R&D expenditure, depreciation, and capitalization of development expenditure.

EBITDA margin EBITDA as a percentage of net sales

Working capital Current assets less cash and cash equivalents, accounts payable and other interest-free current liabilities.

Total cash flow Change in cash and cash equivalents during the period.

Equity/asset ratio Shareholders' equity divided by the balance sheet total.

Return on capital employed Operating earnings after financial items plus financial expenses in relation to average capital employed. Capital employed is total assets less non-interest bearing liabilities including deferred tax liabilities.

Return on equity Net income as a percentage of average shareholders' equity.

Earnings per share diluted and basic Net income divided by the average number of shares issued during the period.

Cash flow per share Total cash flow divided by average number of shares issued

Equity per share diluted and basic Shareholders' equity plus undisclosed reserves in assets with an objective market value less deferred tax divided by number of shares during the period.

CONSOLIDATED INCOME STATEMENT, IN SUMMARY

	Jan-Mar	Jan-Mar	Apr 2014-	Jan-Dec
SEK thousands	2015	2014	Mar 2015	2014
Net sales	87 739	74 428	392 421	379 110
Cost of sales	-35 011	-31 117	-151 049	-147 155
Gross earnings	52 728	43 311	241 372	231 955
Sales and marketing expenses	-29 304	-23 877	-113 296	-107 869
Administration expenses	-7 277	-7 164	-29 631	-29 518
Development expenses	-9 992	-8 776	-42 207	-40 992
Operating earnings	6 155	3 494	56 238	53 576
Net financial items	-514	205	755	1 474
Profit/loss before tax	5 641	3 699	56 993	55 050
Tax	-1 640	-1 505	-13 711	-13 576
Net income	4 001	2 194	43 282	41 474
Net income for the period attributable to the shareholders
of the parent company	4 001	2 194	43 282	41 474
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, basic	0,01	0,01	0,11	0,11
Earnings per share, diluted	0,01	0,01	0,11	0,11

Average number of shares in thousands, basic	389 933	389 933	389 933	389 933
Average number of shares in thousands, diluted	389 933	389 933	389 933	389 933

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

SEK thousands
Net Income	4 001	2 194	43 282	41 474
Other comprehensive income
Items that may be reclassified subsequently to the income statement
Translation differences	891	34	2 118	1 261
Total other comprehensive income, after tax	891	34	2 118	1 261
Total other comprehensive income for the period	4 892	2 228	45 400	42 735
Total comprehensive income for the period attributable to

CONSOLIDATED BALANCE SHEET, IN SUMMARY

	Mar-31	Mar-31	Dec-31
SEK thousands	2015	2014	2014
ASSETS
Intangible assets
Capitalized expenditure for development	172 053	184 961	173 016
Goodw ill	4 354	4 354	4 354
Other intangible assets	910	1 100	1 151
Tangible assets
Equipment	3 472	4 285	3 358
Financial fixed assets
Deferred tax asset	21 967	35 598	23 544
Deposits	296	262	378
Totalt non-current assets	203 052	230 560	205 801
Current assets
Inventories	40 386	40 612	44 207
Accounts receivable	60 152	72 252	66 169
Other receivables	10 675	11 398	13 025
Cash and cash equivalents	304 877	212 128	294 318
Total current assets	416 090	336 390	417 719
TOTAL ASSETS	619 142	566 950	623 520
EQUITY AND LIABILITIES
Equity attributable to parent company's shareholders
Share capital	15 597	15 597
			15 597
Other paid-in capital	1 192 727	1 192 727	1 192 727
Translation difference Accumulated deficit	198 -666 744	-1 920 -710 024	-693 -670 745
Total shareholders'equity	541 778	496 380	536 886
Non-current liabilities
Other provisions	3 894	3 124	3 166
Total non-current liabilties	3 894	3 124	3 166
Current liabilites
Accounts payable	11 948	12 440	14 550
Other liabilities Total current liabilities	61 522 73 470	55 006 67 446	68 918 83 468

CHANGES IN CONSOLIDATED EQUITY, IN SUMMARY

	Attributable to parent company's shareholders
	Share	Other paid-in	Translation	Accumulated	Total shareholders'
SEK thousands	capital	capital	differences	deficit	equity
2014-01-01	15 597	1 192 727	-1 954	-712 218	494 152
Total comprehensive income	-	-	34	2 194	2 228
2014-03-31	15 597	1 192 727	-1 920	-710 024	496 380
2014-04-01	15 597	1 192 727	-1 920	-710 024	496 380
Total comprehensive income	-	-	1 227	39 280	40 507
2014-12-31	15 597	1 192 727	-693	-670 745	536 887
2015-01-01	15 597	1 192 727	-693	-670 745	536 887
Total comprehensive income	-	-	891	4 001	4 892
2015-03-31	15 597	1 192 727	198	-666 744	541 778

CONSOLIDATED STATEMENT OF CASH FLOWS

	Jan-Mar	Jan-Mar	Apr 2014-	Jan-Dec
SEK thousands	2015	2014	Mar 2015	2014
Ongoing activities
Profit/loss before tax	5 641	3 699	56 993	55 050
Income tax paid	-63	-	-63	-
Depreciation and amortization	13 672	12 739	55 283	54 350
Other items not affecting liquidity	1 619	32	3 145	1 303
Cash flow from operating avtivities before
changes in working capital	20 869	16 470	115 358	110 703
Changes in working capital
Increase-/decrease+ in inventories	3 821	1 992	235	-1 594
Increase-/decrease+ in receivables	8 367	-2 482	12 824	1 974
Increase+/decrease- in current liabilities	-9 997	5 734	6 005	21 738
Cash flow from operating activites	23 060	21 714	134 422	132 821
Investment activities
Investment in intangible assets, net	-12 117	-13 010	-40 119	-41 012
Investment in tangible assets, net	-466	-308	-1 265	-1 107
Investment in financial assets, net	82	1	-289	-115
Cash flow from investment activities	-12 501	-13 317	-41 673	-42 234
Net change in cash and cash equivalents	10 559	8 397	92 749	90 587
Cash and cash equivalents at the beginning of the period	294 318	203 731	212 128	203 731
Cash and cash equivalents at the end of the period	304 877	212 128	304 877	294 318

SEGMENT REPORT

		Jan-Mar 2015				Jan-Mar 2014
SEK millions	EMEA		AM APAC	Total	EMEA		AM APAC	Total
Net sales	44	36	8	88	45	24	5	74
Regional contribution	14	9	1	23	14	6	0	19
Regional contribution margin	31%	26%	7%	27%	31%	24%	-7%	26%
Adjustment for R&D amortization	7	5	1	13	7	4	1	12
Adjusted regional contribution	20	15	2	36	21	10	0	32
Adjusted regional contribution margin	46%	41%	22%	42%	47%	40%	9%	42%

Regional Contribution is defined as Gross earnings less Sales and marketing expenses. The CEO review s the business from Europe, Middle East and Africa (EMEA),

North and South America (Americas, AM), and Asia-Pacific (APAC) geographic perspectives.

PARENT COMPANY INCOME STATEMENT, IN SUMMARY

	Jan-Mar	Jan-Mar	Apr 2014-	Jan-Dec
SEK thousands	2015	2014	Mar 2015	2014
Net sales	110 491	96 740	477 069	463 318
Cost of sales	-44 492	-35 690	-201 711	-192 909
Gross earnings	65 999	61 050	275 358	270 409
Sales and marketing expenses	-27 463	-24 370	-106 156	-103 063
Administration expenses	-7 270	-10 020	-26 755	-29 505
Development expenses	-22 109	-20 241	-83 723	-81 856
Operating earnings	9 157	6 419	58 724	55 985
Net financial items	-537	93	-120 612	-119 982
Earnings before tax	8 620	6 512	-61 888	-63 997
Tax	-2 295	-1 578	-13 306	-12 589
Net income	6 325	4 934	-75 194	-76 586

By adjusting assessments, the parent company has reclassified certain intercompany expenses from Administration expenses to Sales and marketing expenses. The re-classification has also been made for the comparative periods. The re-classification has no inpact on the Consolidated Income Statement. The table below show s the effect of the re-classification by post in the income statement, compared w ith if the expenses

had been recognized according to the previous classification.

Sales and marketing expenses	-6 287	-4 440	-25 086	-23 239
Administration expenses	6 287	4 440	25 086	23 239

PARENT COMPANY BALANCE SHEET, IN SUMMARY

	Mar 31	Mar 31	Dec 31
SEK thousands	2015	2014	2014
ASSETS
Intangible assets
Other intangible assets	910	1 100	1 151
Tangible fixed assets
Equipment	3 472	4 285	3 358
Financial assets
Participations in group companies	117 427	117 427	117 427
Deferred tax asset	4 250	17 556	6 545
Deposits	201	262	289
Total non-current assets	126 260	140 630	128 770
Current assets
Inventories	40 386	40 612	44 207
Accounts receivable	60 166	72 252	66 169
Receivables from group companies	189 785	334 979	190 771
Other receivables	10 284	11 293	11 635
Cash and cash equivalents	279 067	176 009	267 111
Total current assets	579 688	635 145	579 893
Total assets	705 948	775 775	708 663
EQUITY AND LIABILITIES
Equity
Restricted equity
Share capital	15 597	15 597	15 597
Statutory reserve	112 822	112 822	112 822
Non-restricted equity
Share premium reserve	51 296	51 296	51 296
Retained earnings	430 942	507 528	507 528
Net Income	6 325	4 934	-76 586
Total equity	616 982	692 177	610 657
Non-current liabilities
Other provisions	3 894	3 124	3 166
Total non-current liabilities	3 894	3 124	3 166
Current liabilities
Accounts payable	11 777	12 218	14 327
Liabilitis to group companies	15 278	15 278	15 278
Other liabilities	58 017	52 978	65 235
Total current liabilities	85 072	80 474	94 840
Total equity and liabilities	705 948	775 775	708 663

ACCOUNTING POLICIES

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:e of the Swedish Annual Accounts Act, Interim Financial Reporting, and RFR 2 Accounting for Legal Entities.

The preparation of the Interim Report requires management to make judgments, estimates and assumptions that affect the company's earnings and position and information presented generally. Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

The same accounting principles and basis of calculation as those used in the latest Annual Report have been applied to the group and parent company. For a description of these accounting principles, please refer to the Annual Report.

Figures in brackets in this report refer to comparison with the corresponding period or date in the previous year. Divergences due to rounding may occur in this report.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

There were no significant events after the end of the period.

REVIEW

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

THIS IS NFT INSIGHT

Business concept and model

Net Insight delivers network products and services for effective, high-quality media transport for broadcasters and service providers. Net Insight's solutions offer customers the benefit of lower cost and the potential for effective new media service launches.

Revenues are generated through direct and indirect sales of products and licenses, support and maintenance, professional services and training. Revenues are primarily sourced from hardware sales, although revenues from software and services have increased in recent vears.

Strategy

Our ambition is to be a growth company, and our target is to create profitable growth. On a market in fundamental transformation, we create growth and profitability through close and strategic partnerships with customers. We create innovative solutions together that make our customers successful and generate business benefits. To grow for the long term, we need to transform Net Insight into a customer and market-oriented company.

Value Drivers

Value drivers affect Net Insight's progress and can be divided into three groups: market transformation, innovative technology and global reach.

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.

Annual General Meeting	7 May	2015
Interim report January – June 2015	-22 July	2015
Interim report January – September 2015	-28 October	2015

fredrik.tumegard@netinsight.net

thomas.bergstrom@netinsight.net

www.netinsight.net

Net Insight AB (publ) • 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