STONESOFT CORPORATION'S INTERIM REPORT FOR JANUARY-JUNE 2009
(Thomson Reuters ONE) - Stonesoft Corporation Stock Exchange Release August 14, 2009 at 9:15a.m.STONESOFT CORPORATION'S INTERIM REPORT FOR JANUARY-JUNE 2009Operating result and net sales almost at the level of the previousyearStonesoft Corporation's operating result for the second quarter ofthe year declined slightly and was EUR -0.6 million, which is EUR-0.2 million less than during the corresponding period in theprevious year. Net sales was EUR 6.0 million, which is 5% less thanduring the corresponding period in the previous year.SummaryThe comparable figures from the corresponding period in the previousyear are in brackets and refer to the figures of continuingoperations.April-June 2009- Net sales EUR 6.0 (6.4) million, decrease -5%- Product sales EUR 3.4 (4.1) million, decrease -17%- Operating result EUR -0.6 (-0.4) million- Operating result as percentage of net sales -9% (-6%)- Earnings per share EUR -0.01 (-0.01)- Cash flow EUR -0.7 (-0.1) million- Interest bearing funds exceeded interest bearing debts by EUR 6.7(7.8) millionJanuary-June 2009- Net sales EUR 11.1 (11.6) million, decrease -4%- Product sales EUR 5.7 (7.2) million, decrease -21%- The operating result EUR -1.7 (-1.6) million- The operating result as percentage of net sales -15% (-14%)- Cash flow EUR -0.3 (-1.2) million. The last part of the sellingprice of Embe Systems Oy, EUR 0.8 million, has been removed from thetotal cash flow of the previous year.Product sales has previously been referred to as "Stonesoft's corebusiness, the sales of the StoneGate product family". The term hasbeen changed because currently the product sales comprisespractically of StoneGate sales.The company still does not see it justified to give any estimate onthe result for the year 2009, but has now given an estimate of thenet sales for the full year.CEO Ilkka HiidenheimoThe comparable operating result and net sales of the company almostreached the level of the corresponding period in the previous year,despite the general market situation.In our main market area, Europe, the sales of the StoneGate productfamily stayed on an adequate level. However, the sales in America andRussia did not meet the expectations. In the Emerging Markets, whichhave grown strongly during the previous years, especially NorthAfrica showed positive development developed positively. We renewedthe partnership contract entered in the previous year with theleading national telecommunications company by a frame agreement,with first orders related to it at the value of EUR 1.2 million. Thedeliveries took place during the second quarter of the year. Theorders further strengthen our position in North Africa.To reach our target for the rest of the year, we reduced thecompany's cost structure and commenced co-operation negotiations,based on which the company decided to terminate the employmentcontract of six (6) employees and lay off the personnel in Finlandwith certain exceptions for six weeks in stages during the rest ofthe year.Tekes, the Finnish Funding Agency for Technology and Innovation, hasdecided to fund Stonesoft Corporation's research and developmentproject "The protection of fast networks of critical infrastructure"with more than a million Euros in 2009 and 2010. The funding decisionconsiderably accelerates the completion of the project, which in turnclearly improves the competitiveness of our products. The project hassignificant novelty value and is highly challenging in internationalframework.The StoneGate 5.0 launched in April has been received positively inthe market. With the unified management offered by our products, ourcustomers have been able to increase the efficiency of theiroperations and gained significant cost savings. After the reportingperiod we launched the high performance network security appliancesFW-5105 and IPS-6105, which extend our product offering to the highcapacity network environments of large enterprises and telecomoperators. The first deliveries to customers have already been made.The relative importance of the operationality and availability ofdata networks to business is continuously increasing. This had led tothe growth of the demands to network security design and to the needto achieve a comprehensive overview of the state of the network anddata communications. We are specialized in delivering comprehensivenetwork security solutions, which meet also the exceptionally highdemands of critical network environments and enable increasedefficiency and flexibility.NET SALES AND RESULTApril-June 2009 (hereinafter 'reporting period')The group's net sales in the reporting period were EUR 6.0(6.4)million. The decrease compared to the corresponding period in theprevious year was EUR -0.3 million, or -5 %. The operating result(EBIT) was EUR -0.6 (-0.4) million and the result after taxes was EUR0.5 (-0.3) million.The product sales, which consists practically of the sales of theStoneGate product family, were EUR 3.4 (4.1) million, a decrease of-17% compared to the corresponding period in the previous year. TheStoneGate product family comprises of a firewall, VPN, SSL VPN andIPS (Intrusion detection and Prevention System) solutions.The geographical distribution of net sales was as follows: Europe 62%(60%), Emerging Markets (Russia, North Africa and Middle East) 22%(15%), Americas (North and South America) 13% (22%) and APAC(Asia-Pacific) 3% (3%).January-June 2009 (hereinafter 'fiscal period')The group's net sales in the fiscal period were EUR 11.1 (11.6)million. The decrease compared with the previous year's correspondingperiod was EUR 0.5 million, or -4%. The operating result (EBIT) wasEUR -1.7 (-1.6) million and the loss after taxes was EUR -1.6 (-1.4)million.The product sales were EUR 5.7 (7.2) million, a decrease of -21%compared to the corresponding period in the previous year.The geographical distribution of net sales was as follows: Europe 65%(60%), Emerging Markets (Russia, North Africa and Middle East) 16%(16%), Americas (North and South America) 16% (20%) and APAC(Asia-Pacific) 3% (4%).Finance and investmentsAt the end of the fiscal period, the group's total assets were EUR14.5 (16.1) million. The equity ratio was 33% (48%) and gearing (theratio of net debt to shareholder's equity) -3.37 (-1.87).Consolidated liquid assets of the group at the end of the fiscalperiod totaled EUR 6.7 (7.8) million. Investments in tangible andintangible assets were EUR 0.2 (0.4) million.In order to strengthen the company's capital structure and to ensurethe continuance of the positive development in the future in linewith the company's strategy and growth plan, the main shareholders ofthe company have confirmed to the Annual General Meeting held onMarch 26, 2009 their readiness to invest at least three (3) millionEuros in the company in form of convertible bond or directed issuanceof shares. The commitment is in force until the end of the AGM in2010.The company has not executed the convertible bond arrangement ordirected issuance of shares.DEVELOPMENT OF BUSINESS OPERATIONSMain business events in the reporting periodIn April, Stonesoft achieved the Common Criteria EAL4+ certificationfor the Firewall Appliance Family. The EAL 4+ is the highestcommercially feasible certification level.In April, Stonesoft introduced the new StoneGate Management Center5.0 and StoneGate Firewall 5.0, offering new revenue opportunitiesfor MSSPs (Managed Security Service Providers). StoneGate ManagementCenter 5.0 offers unequaled tools for managing large and distributedenvironments with minimum effort.In April, the leading industry analyst firm Gartner, Inc. positionedStonesof's Network Intrusion Prevention System (IPS) for the firsttime in its Network Intrusion Prevention System Appliances MagicQuadrant report, which compares network intrusion prevention systems.In May, Stonesoft announced it strives for improved profitability andspecified the savings target for the rest of the year to be around1.5 million Euros. To reach this target the company commenced, amongother actions, co-operation negotiations based on which the companydecided to terminate employment contract of six (6) employees and layoff the personnel in Finland with certain exceptions for six weeks instages during the rest of the year.In May, Stonesoft announced that Tekes, the Finnish Funding Agencyfor Technology and Innovation, decided to fund StonesoftCorporation's research and development project "The protection offast networks of critical infrastructure" with more than a millioneuros. The funding is allocated over three years so that the majorityis granted for the years 2009 and 2010.In May, Stonesoft introduced the new StoneGate FW-1030 appliance withnext generation firewall capabilities.In June, Stonesoft introduced the new StoneGate IPS-1030 appliance,which is capable of inspecting and stopping also attacks hidden inencrypted Web traffic. The new appliance provides efficientprotection for both corporate network users and public Web servicesagainst attacks hidden inside the encrypted Web connection.In June, Stonesoft introduced the new StoneGate FW-1060 firewall andIPS-1060 intrusion prevention system appliances, which enableefficient proactive defense.In June, Stonesoft announced it has received orders from AlgerianTelecom at the value of 1.2 million Euros. The orders are related tothe strategic partnership with the leading nationaltelecommunications company Algeria Telecom, which was entered in 2008and has now been renewed by a contract that is in force for one yearat the time, for a maximum period of three years, unless terminated.The value of orders to be made annually under this frame agreement isat the minimum two (2) million Euros and at the maximum eight (8)million Euros. The frame agreement is also strategically significantto the company.MAJOR EVENTS AFTER THE FISCAL PERIODIn July, Stonesoft launched the new high performance FW-5105 firewalland IPS-6105 intrusion prevention system appliances, which meet theneeds of the most demanding high capacity networks, and the newStoneGate SSL-1030 appliance for securing the remote connections ofsmall and medium-sized organizations.REVIEW OF MAJOR RESEARCH AND DEVELOPMENT ACTIVITIESStonesoft continued its strong investments in R&D. The R&Dinvestments during the fiscal period totaled EUR 2.7 (2.7) million,which represented 23% (23%) of operating expenses.R&D employed 65 (66) persons at the end of the reporting period.SHARE CAPITAL AND STOCK OPTION PROGRAMSAt the end of the fiscal period, Stonesoft's share capital recordedin the Trade Register totaled EUR 1 146 054.64. The number of shareswas 57 302 732. The share capital remained unchanged.Stock option programsThe company has two valid stock option programs, the Stock OptionProgram 2004-2010, the subscription price of which is EUR 0.56, andthe Stock Option Program 2008-2010, the subscription price of whichis EUR 0.30. During the fiscal period no subscriptions were made onthe basis of the stock option programs for the key personnel of thecompany.DEVELOPMENT OF SHARE PRICES AND TURNOVERIn the beginning of the fiscal period, the price of Stonesoft's sharewas EUR 0.32 (0.29). At the end of the fiscal period the price wasEUR 0.40 (0.43). The highest price was EUR 0.50 (0.47) and the lowestEUR 0.31 (0.24). The share price divided by earnings per share (P/E)at the end of the fiscal period was -14.3 (-15.6). During the fiscalperiod the total turnover of Stonesoft shares amounted to EUR 1.6(2.8) million and 4.1 (8.7) million shares, which is 7.2 (15.2)% ofthe total amount of the shares. Based on the share price at the endof the fiscal period, Stonesoft's market value was EUR 22.9 (24.6)million.NOTICES IN CHANGE OF OWNERSHIPDuring the fiscal period, the company gave no notices of changes inownership.ACQUISITIONS AND CHANGES IN GROUP STRUCTUREStonesoft established a representative office to Shanghai, China andterminated the Singapore subsidiary. No acquisitions were made and noother changes in the group structure were implemented during thereporting period.PERSONNELAt the end of the fiscal period, the group's personnel totaled 176(180).AUTHORIZATIONS OF THE BOARD OF DIRECTORSThe Annual General Meeting held on March 26, 2009 decided to grantthe Board of Directors an authorization, according to which the Boardof Directors may decide to issue new shares in one or several issuesand to grant option and other special rights. The total number ofshares or rights to the shares issued may be 11.450.000 at themaximum.Based on the authorization, the Board of Directors may decide toissue new shares for subscription according to the shareholders'pre-emptive subscription rights or in deviation from theshareholders' pre-emptive subscription right, or in a directed issueof option rights or other special rights in case the deviation isjustified by a weighty financial reason for the company, such asfinancing of an acquisition, other arrangement concerning thebusiness of the company or development of its capital structure, orincentive to the company's personnel.The issue may be directed in whole or in part to the mainshareholders of the company Ilkka Hiidenheimo and Hannu Turunen, whohave confirmed still to be ready to invest at least three (3) millionEuros in the company in form of convertible bond or directed issuanceof shares in order to strengthen the company's capital structure withan additional cash reserve and to ensure the continuance of thepositive development in the future in line with the company'sstrategy and growth plan. The commitment given by the mainshareholders is in force until the end of the AGM in 2010.The Board of Directors was authorized to decide on other terms andconditions related to the share issues and to the issuance of optionor other special rights. The authorization is in force until the endof the 2010 AGM.The Board of Directors has not used the granted authorization.The company does not own its shares and the Board of Directors do nothave an authorization to acquire its own shares.CORPORATE GOVERNANCEStonesoft complies with the Corporate Governance Recommendations forlisted companies issued by the Confederation of Finnish Industries EKthe NASDAQ OMX Helsinki Ltd and the Central Chamber of Commerce inOctober 2008, as described on the web pages of the company.RISKS AND BUSINESS UNCERTAINTIES IN THE NEAR FUTUREIn the current fiscal period, Stonesoft's main risks and businessuncertainties relate to the realization timetable of the salesprojects and possible productions disruption of our subcontractorsand suppliers. In addition to these factors, the general economicaluncertainty that has previously grown strongly, remains a riskfactor, but seems to be somewhat stabilizing. Otherwise there havebeen no significant changes in Stonesoft's uncertainties incomparison to the risks and business uncertainties that have beenannounced earlier.FUTURE OUTLOOKCompanies will continue to network with their partners andsubcontractors, and this development will create even higherrequirements for network security and availability. At the same time,the demand for outsourcing solutions and services will grow. ManagedSecurity Service Providers (MSSPs) have a growing need to providetheir customers with the possibility to track the status of theirnetwork security while maintaining an overview of their own datanetwork. According to the company's view combining security and highavailability, which is the cornerstone of StoneGate product design,will prove its strength even better in this development.The convergence of voice, video and data on IP-based networks willcreate more demand for capacity and drive the adoption of 10 Gbpsnetworks. The growing demand for added bandwidth together with newprotocols in the IP networks is expected to increase the generaldemand for better reporting, monitoring and analysis tools. Thisdevelopment will support Stonesoft in achieving its year 2009 growthplan, since these are the cornerstones in StoneGate ManagementCenter's functionality.The strong growth of virtualization has created a demand for ensuringnetwork security and business continuity also in virtualenvironments. StoneGate products are better suited for virtualenvironments than the competitors' products because they are based onsoftware solutions.As security threats in the public sector increase, growing number ofgovernment organizations have started improving their protectionagainst network attacks and cyber espionage. StoneGate products offercomprehensive, centrally managed protection and suit well to theneeds of the public sector.While the global financial uncertainty continues, companies need topay attention to the cost efficiency of their operations. This willfurther strengthen the competitiveness of the StoneGate solutions andemphasize the possibilities the solutions offer for generatingconsiderable cost savings in relation to infrastructure,communications and operating costs.Due to the general economical situation and prevailing globaluncertainty, it is difficult to give any estimates on the futuredevelopment. Based on this, the company still does not regard itjustified to give any estimate on the future development of theresult in 2009, although it strives for an improved operating result(EBIT) compared to the previous year. Based on the existing salespipeline and the already realised net sales, the company expects thenet sales for the full year to remain at the previous year's level.The net sales are expected to be at EUR 24.3 million, +/- EUR 1.5million.With regard to the development of the turnover and the operatingresult, variation is expected between the quarters in comparison tothe corresponding quarter during the previous year as well as to theprevious quarter as a consequence of, among others, long salescycles, a relatively big impact of individual deals, and thevariation between the quarters in the previous year.Stonesoft GroupIncome Statement 4-6/2009 4-6/2008 1-6/2009 1-6/2008 1-12/2008(1000 Euro)Continuing operationsNet sales 6 039 6 371 11 122 11 630 24 427Other operating income 341 279 505 572 1 275Materials and services -1 120 -945 -1 814 -1 895 -3 547 Personnel expenses -3 686 -3 735 -7 289 -7 286 -14 796Depreciation -113 -118 -228 -229 -483Other operatingexpenses -2 011 -2 211 -3 980 -4 389 -9 161Operating result -550 -360 -1 683 -1 597 -2 286Financial income andexpenses 45 97 150 120 276Result before taxes -505 -263 -1 533 -1 477 -2 010Taxes -44 -49 -80 -99 -219Result from continuingoperations -549 -311 -1 613 -1 576 -2 229Result fromdiscontinued operations 0 0 0 186 186Result for theaccounting period -549 -311 -1 613 -1 390 -2 043Other comprehensiveincomeExchange differences ontranslating foreignoperations -10 -16 10 -58 -30Total othercomprehensive income -10 -16 10 -58 -30Total comprehensiveincome -559 -327 -1 603 -1 448 -2 068Basic earnings pershare (EUR),continuing operations -0,01 -0,01 -0,03 -0,03 -0,04Diluted earnings pershare (EUR),continuing operations -0,01 -0,01 -0,03 -0,03 -0,04Basic earnings pershare (EUR),discontinued operations 0,00 0,00 0,00 0,00 0,00Diluted earnings pershare (EUR),discontinued operations 0,00 0,00 0,00 0,00 0,00Stonesoft GroupBalance Sheet (1000 Euro) 30.6.2009 30.6.2008 31.12.2008ASSETSNon-Current AssetsTangible assets 556 787 692Intangible assets 174 126 104Other investments 10 10 10Deferred tax assets 0 1 0 Total 740 924 806Current assetsInventories 730 822 911Trade and other receivables 6 313 6 511 7 371Prepayments 44 68 19Marketable securities 5 546 7 003 6 310Cash and cash equivalents 1 156 803 738 Total 13 789 15 208 15 348Total assets 14 529 16 132 16 154EQUITY AND LIABILITIESEquity attributable to equity holdersof the parent company Share capital 1 146 1 146 1 146 Share premium account 76 821 76 821 76 821 Conversion differences -941 -985 -951 Retained earnings -75 038 -72 836 -73 473 Total 1 988 4 146 3 543Long-term liabilities Provisions 0 43 26 Other long-termliabilities (* 2 594 2 070 2 336 Total 2 594 2 112 2 363Short-term liabilities Trade and otherpayables (* 9 696 9 712 9 991 Tax liability 125 7 41 Provisions 126 118 214 Short-term interest bearingliabilities 0 37 2 Total 9 946 9 874 10 248Total liabilities 12 541 11 986 12 611Total equity and liabilities 14 529 16 132 16 154*) Other liabilities includecustomers'pre-paid maintenance agreementsperiodicity 8 591 7 449 8 372Stonesoft GroupStatement of changes inequity(1000 Euro) Share Share Conversion Retained capital premium differences earnings TotalShareholders' equity at1.1.2008 1 146 76 821 -927 -71 461 5 579Comprehensive income -58 -1 390 -1 448Stock options 16 16At the closing on31.12.2008 transferredstock option expensesaccumulated retainedearnings -16 16 0Shareholders' equity at30.6.2008 1 146 76 821 -985 -72 836 4 146 Share Share Conversion Retained capital premium differences earnings TotalShareholders' equity at1.1.2009 1 146 76 821 -951 -73 473 3 543Comprehensive income 10 -1 613 -1 603Stock options 48 48Shareholders' equity at30.6.2009 1 146 76 821 -941 -75 038 1 988Stonesoft GroupCash flow statement(1000 Euro) 1.1.-30.6.2009 1.1.-30.6.2008 1.1.-31.12.2008Cash flow fromoperating activities Operating Result -1 683 -1 597 -2 286 Adjustments Non-cashtransactions -104 36 319 Financialexpenses -67 -42 -93 Financial incomes 217 162 375 Change in networking capital 1 459 746 614 Taxes paid -65 -99 -218Total cash flow fromoperating activities -243 -793 -1 288Cash flow frominvesting activities Investments intangible assets -67 -285 -422 Investments inintangible assets -95 -66 -66 Investments inaffiliated company 0 0 0 Investments in othershares 0 -10 -10Net cash flowinvesting activitiescontinuing operations -162 -361 -498 Net cash flowinvesting activitiesdiscontinuedoperations 0 761 761Total cash flowinvesting activities -162 400 263Cash flow fromfinancing activities Payments offinancial leasingliabilities -2 -38 -72Total cash flow fromfinancing activities -2 -38 -72Change in cash and cashequivalents Cash and cashequivalents atbeginning of period 7 048 8 210 8 210 Conversiondifferences 10 -58 -30 Changes in themarket value ofinvestments 52 86 -34Total cash and cashequivalents at end ofperiod *) 6 702 7 806 7 048*) Total cash and cashequivalents at end ofthe periodcontains pledgedsecurities 316 256 315Stonesoft GroupGeographical segments 1.1.-30.6.2009 1.1.-30.6.2008 1.1.-31.12.2008(1000 Euro)Net sales Europe 7 164 6 959 14 740 Emerging Market 1 814 1 879 4 123 Americas 1 817 2 352 4 495 APAC 327 440 1 069Total net sales 11 122 11 630 24 427Operating profit Europe -520 -887 -1 061 Emerging Market -102 -20 338 Americas -986 -616 -1 532 APAC -74 -73 -31Total operating profit -1 683 -1 597 -2 286Stonesoft GroupContingent liabilities 1.1.-30.6.2009 1.1.-30.6.2008 1.1.-31.12.2008(1000 Euro)Contingent off-balancesheet Non-cancelable otherleases 2 926 3 902 3 377 Contingentliabilities for theCompany 63 20 63Stonesoft GroupRelated partyinformation 1.1.-30.6.2009 1.1.-30.6.2008 1.1.-30.9.2008(1000 Euro)Consultation fees paidto the Board ofDirectors 0 0 0Stonesoft GroupQuarterly development Q2 / Q1 / Q4 / Q3 / Q2 / Q1 /(Euro Millions) 2009 2009 2008 2008 2008 2008 2008Software 0,3 0,4 1,0 0,5 0,7 0,4 2,6Security appliances 3,1 2,0 3,4 2,8 3,4 2,8 12,3Services 2,7 2,6 2,6 2,4 2,3 2,2 9,5Other products 0,0 0,1 0,0 0,1 0,0 -0,1 0,1Net sales continuing operations 6,0 5,1 6,9 5,9 6,4 5,3 24,4 Change-% from previous year -5 -3 19 45 32 22 28Sales margin 4,9 4,4 6,1 5,1 5,4 4,3 20,9Sales margin % 81 86 88 86 85 82 85Operative expenses 5,8 5,7 6,6 5,9 6,0 5,8 24,4Operating profit (EBITA) -0,6 -1,1 -0,2 -0,5 -0,4 -1,2 -2,3 % of net sales -9 -22 -3 -9 -6 -24 -9Result before taxes -0,5 -1,0 -0,1 -0,4 -0,3 -1,2 -2,0 % of net sales -8 -20 -2 -7 -4 -23 -8Stonesoft GroupKey ratios 1.1.-30.6.2009 1.1.-30.6.2008 1.1.-31.12.2008(1000 Euro)Net sales, continuingoperations 11 122 11 630 24 427 Net sales change-% -4 27 28Operating result,continuing operations -1 683 -1 597 -2 286 % of net sales -15 -14 -9Operating result beforetaxes -1 533 -1 477 -2 010 % of net sales -14 -13 -8ROE - %, annualized,continuing operations -117 -65 -49ROI - %, annualized -99 -56 -40Equity ratio-% 33 48 46Net gearing -3,37 -1,87 -1,99Total Assets 14 529 16 132 16 154Capital expenditure 162 351 488Capital disposals 20 0 0R&D costs 2 657 2 686 5 230 % of net sales 24 23 21Number of employees(weighted average) 183 181 183Number of employees(end of the period) 176 180 185Share Specific RatiosEarnings per share,continuing operations -0,03 -0,03 -0,04Earnings per share,discontinued operations 0,00 0,00 0,00Equity per share 0,03 0,07 0,06Dividend 0,00 0,00 0,00Dividend per share(EUR) 0,00 0,00 0,00Dividend / Profit-% 0 0 0Calculation ofindicatorsReturn on equity (Profit before taxes - income taxes)(ROE) % = x 100 / Shareholders' equity + minority interest (average)Return on invested (Profit before extraordinary items+interest andcapital (ROI)% = other financial expenses) x100 / Balance sheet total - non-interest bearing debt (average)Equity ratio % = (Equity + minority interest) x 100 / Balance sheet total - advances received Interest bearing net debt - cash in hand and onNet gearing = deposit - marketable securities / Equity + minority interestEarning per share Profit before taxes - minority interest(EPS) = - income taxes / Average number of shares adjusted for dilutive effect of optionsEquity per share = Equity / Number of shares at end of periodACCOUNTING PRINCIPLESThis Interim Report is prepared in accordance with IAS 34 standard.FORWARD-LOOKING STATEMENTSThis report contains statements concerning, among other things,Stonesoft's financial condition and the results of operations thatare forward-looking in nature. Such statements are not historicalfacts, but rather represent Stonesoft's future expectations. Thecompany believes that the expectations reflected in theseforward-looking statements are based on reasonable assumptions.However, these forward-looking statements involve inherent risks anduncertainties, which could cause actual results or outcomes to differmaterially from those anticipated in the statements. These risks anduncertainties may include, among other things, (1) changes in ourmarket position or in the Firewall/VPN and Intrusion detection andprotection market in general; (2) the effects of competition; (3) thesuccess, financial condition, and performance of our collaborationpartners, suppliers and customers;(4) our ability to source qualitycomponents without interruption and at acceptable prices;(5) ourability to recruit, retain and develop appropriately skilledemployees;(6) exchange rate fluctuations, including, in particular,fluctuations between the Euro, which is our reporting currency, andthe US dollar;(7) other factors related to sale of products, economicsituation, business, competition or legislation affecting thebusiness of Stonesoft or the industry in general and (8) our abilityto control the variety of factors affecting our ability to reach ourtargets and give accurate forecasts.The presented figures are unaudited.PRESS CONFERENCEA press conference for analysts and investors will be held on August14, 2009 at 10.30 am at the Stonesoft headquarters, street addressItälahdenkatu 22 A, 00210 Helsinki.For additional information, please contact:Ilkka Hiidenheimo, CEO, Stonesoft CorporationTel. +358 9 476 711E-mail: ilkka.hiidenheimo(at)stonesoft.comMikael Nyberg, CFO, Stonesoft CorporationTel. +358 9 476 711E-mail: mikael.nyberg(at)stonesoft.comStonesoft CorporationIlkka HiidenheimoCEOThis release and the presentation material related to this report arealso available on Stonesoft's web site at www.stonesoft.com.Distribution:OMX Nordic Exchange Helsinkiwww.stonesoft.comhttp://hugin.info/120212/R/1334780/317036.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 14.08.2009 - 08:15 Uhr
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