ADVANCED FIBER OPTICS AS: årsregnskap 1999 vs 1998
Shrank 234% on revenue, returned to profit, fresh owner capital
Summary
What changed
Comparing Årsregnskap 1999 with 1998 for ADVANCED FIBER OPTICS AS. Revenue 303.2k NOK → -405.7k NOK (-233.8%). Net result -275.0k NOK → +173.5k NOK. Equity 233.0k NOK → -59.5k NOK.
On the constructive side: operating result improved; turned profitable; cash rose. Pressures included: revenue fell; equity eroded; current ratio dropped below 1×.
Also worth watching: thin equity buffer. All figures are taken from the published annual accounts for ADVANCED FIBER OPTICS AS.
At a glance
Scorecard
What improved
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Operating result improved
Operating result +10.3k NOK → +100.1k NOK (op. margin 3.4% → -24.7%). Calculated
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Turned profitable
Net result flipped from a loss of 275.0k NOK to a profit of 173.5k NOK. Calculated
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Cash rose
Bank deposits 50.0k NOK → 97.1k NOK (+94.3% YoY). Calculated
What deteriorated
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Revenue fell
Operating income / revenue moved from 303.2k NOK to -405.7k NOK (-233.8% YoY). Calculated
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Equity eroded
Book equity 233.0k NOK → -59.5k NOK (equity ratio 26.5% → -6.7%). Calculated
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Current ratio dropped below 1×
Current ratio 1.23× → -4.53× — short-term liabilities now exceed liquid/current assets on the published lines. Calculated
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COGS moved
COGS / varekostnad 3 370 NOK → 41.6k NOK (+1134.9% YoY). Calculated
Things to notice
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Thin equity buffer
Equity ratio is -6.7% of assets — limited loss-absorbing capacity on a stand-alone basis. Interpretation