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SSH - Q1 result below our expectations

SSH Q1 result was below our expectations. No larger licensing deals were announced during Q1, which led to Software fees being clearly lower than last year. Comparables were high, due to last year’s Q1 figures including 1 MEUR Sony related patent income.
  • Q1 net sales totaled EUR 2.7 million (3.6m our expectation)
  • Software fees were EUR 0.5 million (1.1m Evli), Professional services were EUR 0.1 million (0.3m Evli), and Recurring revenue was EUR 2.1 million (2.2m Evli)
  • Q4 operating loss was EUR -1.3 million (-0.9m our expectation)
  • EPS was -0.04 (vs. -0.03 our estimate)
  • Liquid assets were EUR 12.3m (vs. 12.6m Q1/18)

Business outlook for 2019 unchanged: SSH expects double digit percentage growth from software business (software fees, professional services, and recurring revenue) at comparable exchange rates

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