Nocom’s Interim Report for January – September 2004

Substantially increased sales in Scandinavia and profitable third quarter For the first time in Nocom’s history, the company can report a profit for the traditionally weak third quarter. This year the third quarter has been characterized by a substantial increase in software sales throughout all of Scandinavian. Nocom’s report for the first nine months of the year shows continued growth and profitability. Sales increased by 44 percent compared with the same period in 2003, and profitability also improved, with a profit after financial items of almost seven million Swedish krona. “2004 has been an eventful year in which we’ve experienced strong growth. That we can also report a profit for the third quarter is encouraging, not least because we’ve achieved profitability through a substantial sales increase and through all our Scandinavian companies performing well,” says Stefan Skarin, CEO, Nocom. “After years of subdued activity in the IT market, we can now see clear signs of increased demand. The substantial increase in software sales this year and our success on a broad front in Scandinavian give us every reason to have a positive outlook for the fourth quarter and the beginning of 2005.” Summary of January – September 2004: - Sales increased by 44 percent and totaled SEK 142.1 (98.6) million for the first nine months of the year, of which SEK 40.8 (26.3) million is attributable to the third quarter. - Profit after financial items totaled SEK 6.9 (2.9) million, of which SEK 0.8 (-1.6) million for the third quarter. Profit after tax totaled SEK 4.2 (1.5) million, of which SEK 0.3 (-1.4) million for the third quarter. Earnings per share totaled SEK 0.14 (0.05), of which SEK 0.01 (-0.05) for the third quarter. - The company’s growth ties up more capital, which burdened cash flow during the first nine months of the year. Cash flow from current operations totaled SEK -13.2 (-3.7) million, the result of an increase in working capital. For more information, please contact: Stefan Skarin CEO, Nocom cell: +46 708 65 10 05 e-mail: stefan.skarin@nocom.se Stefan Ström CFO, Nocom cell: +46 708 65 10 68 e-mail: stefan.strom@nocom.se