Opcon AB announced unaudited consolidated and parent company earnings results for the second quarter and six months ended June 30, 2014. For the quarter, on consolidated basis, the company announced net sales of SEK 54,942,000 compared to SEK 62,677,000 for the same period a year ago. Operating loss was SEK 4,589,000 compared to SEK 12,332,000 for the same period a year ago. Loss before tax was SEK 4,836,000 compared to SEK 15,116,000 for the same period a year ago. Loss for the period was SEK 5,693,000 compared to SEK 15,894,000 for the same period a year ago. Loss attributable to parent company shareholders was SEK 5,693,000 compared to SEK 15,894,000 for the same period a year ago. Loss per share before and after dilution was SEK 0.01 compared to SEK 0.05 for the same period a year ago. Total cash outflow from the business was SEK 4,373,000 compared to SEK 30,194,000 for the same period a year ago. Underlying operating loss before non-recurring costs was SEK 1.0 million compared to SEK 7.4 million for the same period a year ago. For the April-June period, capitalized development costs amounted to SEK 1.9 million compared to SEK 6.5 million for the same period a year ago. This mainly relates to the development and adaptation for marine applications of Opcon Powerbox.

For the six months, on consolidated basis, the company announced net sales of SEK 122,280,000 compared to SEK 136,693,000 for the same period a year ago. Operating loss was SEK 10,509,000 compared to SEK 21,751,000 for the same period a year ago. Loss before tax was SEK 10,977,000 compared to SEK 29,250,000 for the same period a year ago. Loss for the period was SEK 15,487,000 compared to SEK 29,979,000 for the same period a year ago. Loss attributable to parent company shareholders was SEK 15,487,000 compared to SEK 29,979,000 for the same period a year ago. Loss per share before and after dilution was SEK 0.04 compared to SEK 0.09 for the same period a year ago. Total cash outflow from the business was SEK 24,628,000 compared to SEK 67,059,000 for the same period a year ago. Interest bearing debt at the end of the period was SEK 6.9 million compared to SEK 14.4 million for the same period a year ago. Investments in fixed assets during January-June totaled SEK 0.3 million compared to SEK 0.3 million for the same period a year ago. In addition, SEK 2.7 million (compared to SEK 8.0 million for the same period a year ago) in development costs were capitalized.

For the quarter, on parent company basis, the company announced net sales of SEK 1,950,000 compared to SEK 1,823,000 for the same period a year ago. Operating loss was SEK 3,482,000 compared to SEK 4,933,000 for the same period a year ago. Loss for the period was SEK 1,658,000 compared to SEK 3,751,000 for the same period a year ago.

For the six months, on parent company basis, the company announced net sales of SEK 8,335,000 compared to SEK 20,387,000 for the same period a year ago. Operating loss was SEK 8,660,000 compared to SEK 8,333,000 for the same period a year ago. Loss for the period was SEK 4,984,000 compared to SEK 9,122,000 for the same period a year ago.