ASETEK REPORTS CONTINUED GROWTH AND NEW MARKET EXPANSION:
Bronderslev, Denmark 15 February 2013 - Asetek A/S today published its annual report for 2012 and reported financial results for the fourth quarter, ended 31 December 2012.
Asetek reported revenues of USD 18.7 million in 2012. This represents a 20% increase compared with 2011 (USD 15.6 million). The product gross margin was stable at 36.3% compared with 2011 (36.6%). The operating loss of USD 4.9 million, compared with 3.7 million in 2011, was mainly driven by continued investment in the development of the data center product line as well as administrative expenses associated with preparation for new financing.
Asetek reported revenues in the fourth quarter of 2012 totaling USD 4.2 million, an increase of 16% over fourth quarter of 2011 (USD 3.6 million). The operating loss amounted to USD 2.5 million compared with USD 1.5 million in the fourth quarter 2011. The loss is related to the development of the data center product line and administrative expenses associated with preparation for the listing of the company on the Oslo Stock Exchange.
Asetek continued its mission as the leading supplier of liquid cooling solutions for high-end computing in 2012. The company shipped 414,000 units of its patented sealed liquid cooling products during the year. From its inception, Asetek's, total shipments of this type of product have exceeded 1.3 million units. The company made significant progress developing and marketing its new product lines that will help to reduce the substantial cost and negative environmental impact of cooling servers and data centers.
Attached, please find the annual report for 2012.
Andre S. Eriksen, Chief Executive Officer
Phone: +1 408 398 7437, e-mail: email@example.com
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 1.3 million liquid cooling units deployed in the field. Founded in 2000, Asetek is headquartered in Bronderslev, Denmark with offices in USA, China and Taiwan. Asetek applied for listing on the Oslo Stock Exchange, alternatively Oslo Axess, on 31 January 2012. For more information, please visit http://www.asetek.com.
[OSE announcement 5/2013]