Fortnox AB Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2021
October 26, 2021 at 02:30 am EDT
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Fortnox AB (publ) reported earnings results for the third quarter and nine months ended September 30, 2021. For the third quarter, the company reported sales was SEK 236.5 million compared to SEK 174.56 million a year ago. Revenue was SEK 240.16 million compared to SEK 178.57 million a year ago. Net income was SEK 79.4 million compared to SEK 63.78 million a year ago. Basic earnings per share from continuing operations was SEK 0.13 compared to SEK 0.106 a year ago. Diluted earnings per share from continuing operations was SEK 0.13 compared to SEK 0.106 a year ago.
For the nine months, sales was SEK 665.09 million compared to SEK 505.35 million a year ago. Revenue was SEK 677.66 million compared to SEK 515.96 million a year ago. Net income was SEK 179.59 million compared to SEK 152.97 million a year ago. Basic earnings per share from continuing operations was SEK 0.296 compared to SEK 0.255 a year ago. Diluted earnings per share from continuing operations was SEK 0.295 compared to SEK 0.254 a year ago.
Fortnox AB is a Sweden-based company, which offers Internet-based business applications for companies, associations, as well as accounting and auditing firms. The Companyâs product portfolio includes programs for accounting, billing, sales support and payroll, such as Fortnox Accounting, Fortnox Invoicing, Fortnox order, Fortnox Archive, Fortnox Time and Fortnox CRM, as well as other programs. The Companyâs services allow its users to access the applications thorugh the Internet and be logged in simultaneously from multiple locations. As of December 31, 2011, the Companyâs three largest shareholders were Karlo Forvaltnings AB (10.45%), Banque Ohman S.A. (6.45%) and Nordea Life & Pensions (5.8%).