ADAPTI AS: årsregnskap 2009 vs 2008
Shrank 32% on revenue, slipped into loss
approved 2010-03-02; registry 2010-03-04
Summary
What changed
Comparing Årsregnskap 2009 with 2008 for ADAPTI AS. Revenue 6.13m NOK → 4.19m NOK (-31.8%). Net result +188.7k NOK → -192.3k NOK. Equity 509.5k NOK → 317.2k NOK.
On the constructive side: current ratio back above 1×. Pressures included: revenue fell; operating result weakened; fell into a net loss.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ADAPTI AS.
At a glance
Scorecard
What improved
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↑
Current ratio back above 1×
Current ratio 0.40× → 1.36×. Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 6.13m NOK to 4.19m NOK (-31.8% YoY). Calculated
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↓
Operating result weakened
Operating result +21.4k NOK → -258.7k NOK (op. margin 0.3% → -6.2%). Calculated
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↓
Fell into a net loss
Net result flipped from 188.7k NOK profit to a loss of 192.3k NOK. Calculated
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↓
Equity eroded
Book equity 509.5k NOK → 317.2k NOK (equity ratio 132.9% → 0.0%). Calculated
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↓
Payroll up without matching revenue
Salary cost 1.05m NOK → 2.97m NOK (17% → 71% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is 0.0% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 4.21m NOK → 3.00m NOK (-28.6% YoY). Calculated