ADFLASH AS: årsregnskap 2011 vs 2010
Grew 12% on revenue, weaker earnings, cash halved-plus
approved 2012-06-29; registry 2012-08-16; journal 2012 610134
Summary
What changed
Comparing Årsregnskap 2011 with 2010 for ADFLASH AS. Revenue 569.2k NOK → 637.3k NOK (+12.0%). Net result -257.3k NOK → -1.88m NOK. Equity 2.66m NOK → -74.8k NOK.
On the constructive side: revenue rose; operating result improved. Pressures included: net result weakened; equity eroded; cash fell.
Also worth watching: thin equity buffer; book investments changed. All figures are taken from the published annual accounts for ADFLASH AS.
At a glance
Scorecard
What improved
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↑
Revenue rose
Operating income / revenue moved from 569.2k NOK to 637.3k NOK (+12.0% YoY). Calculated
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↑
Operating result improved
Operating result -607.4k NOK → -585.2k NOK (op. margin -106.7% → -91.8%). Calculated
What deteriorated
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↓
Net result weakened
Net result -257.3k NOK → -1.88m NOK (net margin -45.2% → -295.1%). Calculated
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↓
Equity eroded
Book equity 2.66m NOK → -74.8k NOK (equity ratio 38.3% → -2.5%). Calculated
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↓
Cash fell
Bank deposits 9 894 NOK → 3 236 NOK (-67.3% YoY). Calculated
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↓
Current ratio dropped below 1×
Current ratio 1.10× → 0.42× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
Things to notice
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·
Thin equity buffer
Equity ratio is -2.5% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation
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·
Book investments changed
Investment / intangible book value 2.50m NOK → 1.51m NOK. Reported fact