HMS Networks AB; adjustment of previously reported information.

During an internal review the order intake reported during the first half year of has been found incorrectly reported with 11 %.

After the internal control and the necessary adjustments the order intake has been adjusted as described below.

	Q1 (TSEK)	Q2 (TSEK)	6 months (TSEK)
Reported order intake	167 453	170 326	337 779
Adjusted order intake	147 705	152 888	300 593
Difference	19 748	17 438	37 186
Reported growth in order intake	31%	18%	27%
Adjusted growth in order intake	14%	6%	12%
Adjusted book to bill	1,06	1,08	1,07
Net sales (unchanged)	139 127	141 451	280 578
Growth in net sales (unchanged)	21%	7%	16%

The reason behind the incorrectly reported information is that changes in internal processes in the beginning of 2014 were, on group level, not correctly collected and consolidated when summarizing information from the subsidiaries.

"Reporting incorrect order intake during the first two quarters is extremely unfortunate. We have internally made the necessary changes to make sure we communicate the correct information going forward. During our internal review we have not found any other errors in the reported figures. It is our assessment that this adjustment of the reported order intake will have no effect on the general market outlook previously communicated in our half year report", says Staffan Dahlström CEO HMS Networks AB

For more information please contact:
CFO HMS Networks AB Gunnar Högberg, telephone: [phone]
CEO HMS Networks AB Staffan Dahlström, telephone: [phone]

HMS Networks AB (publ) is a world-leading supplier of communication technology for industrial automation. Sales amounted to SEK 501 million in 2013. Over 90% of these sales were to customers located outside Sweden. All development and the major portion of manufacturing are carried out at the head office in Halmstad and in Weingarten. Sales offices are located in Japan, China, Germany, Denmark, India, UK, USA, Italy and France. HMS has 350 employees and produces network interface cards and products to interconnect different networks under the trademark Anybus® and IXXAT® and products for Remote Management under the trademark Netbiter®. HMS is listed on NASDAQ-OMX Nordic Exchange in Stockholm in the category Small Cap, Information Technology.

Press release PDF

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Source: HMS Networks AB via Globenewswire

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