Net sales for the quarter totalled US$ 7.3 million, an increase of 391% against the same quarter last year (US$1.5m). Revenue from services for the third quarter was MSEK 24.3 (US$3.83m), an increase of 196%. The loss after tax for the third quarter amounted to MSEK -5.6 (US$ 880,000).
The gross margin (defined as net sales minus the cost of goods for resale as a percentage of net sales) amounted to 44% during the first nine months of the year against 49% for the same period in the previous year. “The gross margin has been depressed by the relatively large proportion of hardware sold during Q3”, said Wayfinder. “Overall our margins are sustainable over time”, added Wayfinder CEO Magnus Nilsson.
After the close of the period, Wayfinder received an additional order from one of the world's largest handset manufacturers of approximately MSEK 18, with delivery and income recognition during the fourth quarter of 2007.