ADAPTIVE MEASUREMENT SYSTEMS AS: årsregnskap 2018 vs 2017
Shrank 87% on revenue, stronger earnings, cash halved-plus
approved 2019-03-15; registry 2019-04-30; journal 2019 296339
Summary
What changed
Comparing Årsregnskap 2018 with 2017 for ADAPTIVE MEASUREMENT SYSTEMS AS. Revenue 813.5k NOK → 106.1k NOK (-87.0%). Net result +117.8k NOK → +277.9k NOK. Equity 162.2k NOK → -115.7k NOK.
On the constructive side: operating result improved; net result improved. Pressures included: revenue fell; equity eroded; cash fell.
Also worth watching: thin equity buffer; cogs fell. All figures are taken from the published annual accounts for ADAPTIVE MEASUREMENT SYSTEMS AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +153.9k NOK → +277.5k NOK (op. margin 18.9% → 261.6%). Calculated
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Net result improved
Net result +117.8k NOK → +277.9k NOK (net margin 14.5% → 262.0%). Calculated
What deteriorated
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↓
Revenue fell
Operating income / revenue moved from 813.5k NOK to 106.1k NOK (-87.0% YoY). Calculated
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↓
Equity eroded
Book equity 162.2k NOK → -115.7k NOK (equity ratio 39.5% → -63.6%). Calculated
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↓
Cash fell
Bank deposits 409.4k NOK → 94.9k NOK (-76.8% YoY). Calculated
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↓
Payroll up without matching revenue
Salary cost 268.4k NOK → 311.5k NOK (33% → 294% of revenue). Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -63.6% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
COGS fell
COGS / varekostnad 223.9k NOK → 7 508 NOK (-96.6% YoY). Calculated