BasWare Oyj announced earnings results for the fourth quarter and full year ended December 31, 2011. For the quarter, the company reported net sales of EUR 30.23 million against EUR 30.15 million for the same period a year ago. Operating profit was EUR 3.45 million against EUR 4.94 million for the same period a year ago. Profit before tax was EUR 3.47 million against EUR 4.84 million for the same period a year ago. Profit attributable to owners of the parent was EUR 2.94 million or EUR 0.23 undiluted and diluted per share against EUR 3.91 million or EUR 0.34 undiluted and diluted per share for the same period a year ago. For the year, the company reported net sales of EUR 107.75 million against EUR 103.09 million for the same period a year ago. Operating profit was EUR 12.28 million against EUR 13.49 million for the same period a year ago. Profit before tax was EUR 12.33 million against EUR 13.33 million for the same period a year ago. Profit attributable to owners of the parent was EUR 9.67 million or EUR 0.76 undiluted and diluted per share against EUR 10.33 million or EUR 0.89 diluted per share for the same period a year ago. Net cash from operating activities was EUR 15.21 million against EUR 12.52 million for the same period a year ago. EBITDA was EUR 17.28 million against EUR 18.6 million for the same period a year ago. Return on equity as on December 31, 2011 was 11.6% against 16.7% as at December 30, 2010. Capital expenditure was EUR 2.01 million against EUR 0.97 million for the same period a year ago. The growth of automation services of 32.3% had a positive impact on the growth of net sales. Transaction volume in 2011 was 20.8 million and the volume grew by 53.0%. The growth of recurring revenue improves the estimates in the long run. The company proposed dividend at the annual general meeting for the year 2011 was EUR 0.41 per share against EUR 0.40 per share for the same period a year ago. The company provides earnings guidance for the year 2012. For the year, the company expected its net sales to grow from the previous year, and operating profit (EBIT) for 2012 is expected to be EUR 8 to EUR 18 million. Effective tax rate will be 24.5%.