Friday, May 24, 2013

Stock Exchange Notice Details

Q1 2013 Reaching major milestones

May 24, 2013 - Asetek continued its mission as the leading supplier of liquid cooling solutions for high-end computing by shipping 122,000 patented sealed liquid cooling units in Q1 2013.

Total revenues amounted to USD 4.9 million in the first quarter of 2013, which is in line with Q1 2012. Operating profits from the desktop segment amounted to USD 1.1 million compared to profits of USD 1.2 illion in Q1 2012.  The operating losses from the datacenter segment amounted to USD 1.3 million, compared to losses of USD 0.7 million in Q1 2012.  The operational losses from the datacenter segment reflect the continued investment in the development of the datacenter product line.

Asetek completed a successful initial public offering of its common shares on the Oslo Stock Exchange in March 2013, raising over $21 million of net proceeds through the issuance of 4 million common shares.

André Eriksen CEO of Asetek says: "We are very pleased with the major milestones passed in the first quarter of 2013. After the successful IPO and listing of Asetek we are now focusing on growth in our two business segments. We made our first invoiced shipments of products for datacenters and the same product was chosen for pilot installation by the University of Tromsø in Norway. These milestones provide reason for continued growth and optimism for 2013 and ahead".

Asetek will host a combined webcast and conference call for investors, analysts and other interested parties at 08:30 CET Friday 24 May 2013.

In order to listen to the presentation of the results you may access the webcast on http://fuze.me/19944658 or by conference call (listen only):

Meeting session Code:             19944658#  

International:                           +1 (775) 996-3562  

United States of America:       +1 (800) 844-3988  

Norway:                                 +47 8522 8849  

Denmark:                               +45 7014 2871   

A Q&A session will be arranged after the presentation. Questions can be submitted live through the conference call and by writing directly in the webcast.

For further information, please contact:

Andre S. Eriksen, Chief Executive Officer

Mobile: +1 408 398 7437, e-mail: ceo@asetek.com

Peter Madsen, Chief Financial Officer

Mobile: +1 408 813 4147, e-mail:
investor.relations@asetek.com

About Asetek    

Asetek is the world leading provider of energy efficient liquid cooling systems for data centers, servers, workstations, gaming and high performance PCs. Its products are used for reducing power and greenhouse emissions, lowering acoustic noise, and achieving maximum performance by leading OEMs and channel partners around the globe.

Asetek's products are based upon its patented all-in-one liquid cooling technology with more than 1.4 million liquid cooling units deployed in the field. Founded in 2000, Asetek is headquartered in Denmark with offices in San Jose, California, China and Taiwan. For more information, visit http://www.asetek.com.

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