6-K 1 y57715e6-k.txt NERA ASA SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 6-K REPORT OF FOREIGN ISSUER Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For Year end 2001 Results NERA ASA Kokstadveien 23, P.O. Box 7090 N-5020 BERGEN Norway Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F X Form 40-F ----- ----- Indicate by check mark whether the registrant by furnishing the information continued in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes____ No X ------ If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorised. NERA ASA By: /s/ Bjorn Ove Skjeie Name: Bjorn Ove Skjeie Title: President and Chief Operating Officer Dated: February 18, 2002

Values in MNOK Per Q3-01 Per Q3-00 Q3-01 Q3-00 2000 Orders received 1 799 2 060 450 617 2 902 Sales revenue 2 119 1 707 643 544 2 550 Operating income before 150,3 138,8 41,6 38,0 228,0 WBA* Operating income (loss) -248,5 80,9 -209,2 0,9 104,5 Income before tax -182,3 133,5 -207,7 30,3 193,3 Earnings per share, NOK -1,64 0,91 1,22

--------------------------------------------------------------------------------------------------------------------------------- (Amounts in NOK 1.000) 01.01-30.09 01.01-30.09 Year Q3 Q3 2001 2000 2000 2001 2000 --------------------------------------------------------------------------------------------------------------------------------- ORDERS RECEIVED 1,799,426 2,059,888 2,902,043 450,033 617,495 SALES REVENUE 2,119,265 1,707,030 2,549,816 643,385 543,990 Operating expenses -1,842,141 -1,391,614 -2,091,647 -561,983 -452,989 Depreciations -67,957 -36,680 -66,943 -23,913 -11,810 --------------------------------------------------------------------------------------------------------------------------------- OPERATING INCOME BEFORE R&D 209,167 278,736 391,226 57,489 79,191 --------------------------------------------------------------------------------------------------------------------------------- R&D -269,183 -197,837 -286,745 -78,147 -78,272 --------------------------------------------------------------------------------------------------------------------------------- OPERATING INCOME BEFORE RESTRUCTURING- GAINS AND -LOSSES -60,016 80,899 104,481 -20,658 919 --------------------------------------------------------------------------------------------------------------------------------- Restructuring gains and losses -188,508 -188,508 --------------------------------------------------------------------------------------------------------------------------------- OPERATING INCOME -248,524 80,899 104,481 -209,166 919 --------------------------------------------------------------------------------------------------------------------------------- Income from investments in associated companies 27,177 16,345 26,474 6,861 5,477 --------------------------------------------------------------------------------------------------------------------------------- Net financial items 39,066 36,251 62,322 -5,424 23,941 --------------------------------------------------------------------------------------------------------------------------------- INCOME BEFORE TAX -182,281 133,495 193,277 -207,729 30,337 --------------------------------------------------------------------------------------------------------------------------------- Taxes -18,978 -35,788 -56,950 -13,539 -4,482 --------------------------------------------------------------------------------------------------------------------------------- NET INCOME -201,259 97,707 136,327 -221,268 25,855 ---------------------------------------------------------------------------------------------------------------------------------

(Amounts in NOK 1,000) 01.01-30.09 01.01-30.09 Year 3Q 3Q 2001 2000 2000 2001 2000 ------------------------------------------------------------------------------------------------- ORDERS RECEIVED 1 799 426 2 059 888 2 902 043 450 033 617 495 ------------------------------------------------------------------------------------------------- SALES REVENUE 2 119 265 1 707 030 2 549 816 643 385 543 990 ------------------------------------------------------------------------------------------------- OPERATING INCOME BEFORE WBA AND RESTR. 150 260 138 811 227 959 41 644 38 007 ------------------------------------------------------------------------------------------------- OPERATING INCOME BEFORE RESTRUCTURING -60 016 80 899 104 481 -20 658 919 ------------------------------------------------------------------------------------------------- OPERATING INCOME AFTER RESTRUCTURING -248 524 80 899 104 481 -209 166 919 ------------------------------------------------------------------------------------------------- INCOME BEFORE TAX -182 281 133 495 193 277 -207 729 30 337 -------------------------------------------------------------------------------------------------

Q4 Q1 Q2 Q3 Total 2001 2002 2002 2002 and later 542 158 71 46 818

(AMOUNT I MNOK) 01.01-30.09 01.01-30.09 YEAR Q3 Q3 BUSINESS AREAS 2001 2000 2000 2001 2000 ---------------------------------------------------------------------------------------------------------------------------- Transmission Networks 1 337 74,3% 1 485 72,1% 2 216 76,4% 337 74,9% 482 78,0% Satellite Communications 453 25,1% 454 22,0% 576 19,8% 113 25,0% 127 20,6% Wireless Broadband Access 9 0,5% 55 2,7% 72 2,5% 0 0,0% 9 1,4% Other/ Elimination 1 0,1% 66 3,2% 38 1,3% 1 0,1% 0 0,0% ---------------------------------------------------------------------------------------------------------------------------- TOTAL 1 799 100% 2 060 100% 2 902 100% 450 100% 618 100% ============================================================================================================================

(AMOUNT I MNOK) 01.01-30.09 01.01-30.09 YEAR Q3 Q3 BUSINESS AREAS 2001 2000 2000 2001 2000 ----------------------------------------------------------------------------------------------------------------------------- Transmission Networks 1 661 78,4% 1 115 65,3% 1 803 70,7% 504 78,3% 383 70,4% Satellite Communications 427 20,1% 546 32,0% 709 27,8% 129 20,0% 160 29,4% Wireless Broadband Access 31 1,5% 1 0,1% 16 0,6% 11 1,7% 1 0,2% Other/ Elimination 0 0,0% 45 2,6% 22 0,9% 0 0,0% 0 0,0% ----------------------------------------------------------------------------------------------------------------------------- TOTAL 2 119 100% 1 707 100% 2 550 100% 643 100% 544 100% =============================================================================================================================

(Amounts in MNOK) 01.01-30.09 2001 - Driftsresultat og marginer - Transmission Networks: - OPERATING INCOME: 129,5 - OPERATING MARGIN: 7,8% - Satellite communications: - OPERATING INCOME: 43,7 - OPERATING MARGIN: 10,2% - Wireless Broadband Access: - OPERATING INCOME: -210,3 - Sales and admin. costs as percent of revenues: 18,8%

-------------------------------------------------------------------------------- (Amount in MNOK) 01.01-09.30 01.01-09.30 YEAR Q3 Q3 BUSINESS AREAS 2001 2000 2000 2001 2000 -------------------------------------------------------------------------------- TRANSMISSION NETWORKS 129,5 76,9 160,2 35,0 26,7 SATELLITE COMMUNICATIONS 43,7 76,7 97,6 13,8 18,4 WIRELESS BROADBAND ACCESS -210,3 -57,9 -123,5 -62,3 -37,1 OTHER/ELIMINATION -22,9 -14,8 -29,8 -7,2 -7,1 -------------------------------------------------------------------------------- TOTAL (BEFORE RESTRUCTURING) -60,0 80,9 104,5 -20,7 0,9 ================================================================================

------------------------------------------------------------------------------------------------------ (Amounts in NOK 1.000) 01.01-30.09 01.01-30.09 YEAR Q3 Q3 2001 2000 2000 2001 2000 ------------------------------------------------------------------------------------------------------ ORDERS RECEIVED 1,799,426 2,059,888 2,902,043 450,033 617,495 SALES REVENUE 2,119,265 1,707,030 2,549,816 643,385 543,990 Operating expenses -1,842,141 -1,391,614 -2,091,647 -561,983 -452,989 Depreciations -67,957 -36,680 -66,943 -23,913 -11,810 ----------------------------------------------------------------------------------------------------- OPERATING INCOME BEFOR R&D 209,167 278,736 391,226 57,489 79,191 ----------------------------------------------------------------------------------------------------- R&D -269,183 -197,837 -286,745 -78,147 -78,272 ----------------------------------------------------------------------------------------------------- OPERAING INCOME BEFORE RESTRUCTURING- GAINS AND -LOSSES -60,016 80,899 104,481 -20,658 919 ----------------------------------------------------------------------------------------------------- Restructuring gains and losses -188,508 -188,508 ----------------------------------------------------------------------------------------------------- OPERATING INCOME -248,524 80,899 104,481 -209,166 919 ----------------------------------------------------------------------------------------------------- Income from investments in associated companies 27,177 16,345 26,474 6,861 5,477 ----------------------------------------------------------------------------------------------------- Net financial items 39,066 36,251 62,322 -5,424 23,941 ----------------------------------------------------------------------------------------------------- INCOME BEFORE TAX -182,281 133,495 193,277 -207,729 30,337 ----------------------------------------------------------------------------------------------------- Taxes -18,978 -35,788 -56,950 -13,539 -4,482 ----------------------------------------------------------------------------------------------------- NET INCOME -201,259 97,707 136,327 -221,268 25,855 -----------------------------------------------------------------------------------------------------

--------------------------------------------------------------------------------------------------- (Amounts in 1.000 NOK) 01.01-30.09 01.01-30.09 Year 2001 2000 2000 --------------------------------------------------------------------------------------------------- Net Income -201,259 97,707 136,327 Depreciations 67,957 36,680 66,943 Changes in inventories, receivables 110,840 Trade payable, other working capital -343,592 -155,134 -159,820 Oher adjustment to operating activities -41,033 33,617 34,320 -------------------------------------------------------------------------------------------------- NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES -407,087 12,870 77,770 -------------------------------------------------------------------------------------------------- Proceeds from sale of property, plant and equipment 672 11,524 10,560 Capital expenditures -107,422 -74,252 -105,849 Other investments and sales -11,909 49,085 28,410 -------------------------------------------------------------------------------------------------- NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES -118,659 -13,643 -66,879 -------------------------------------------------------------------------------------------------- Proceeds from issuance of shares 5,332 857,479 860,641 Changes, Own shares -26,795 -10,930 -10,930 Dividends paid -27,108 -19,562 -19,562 Net change in liabilities -42,127 5,174 5,356 -------------------------------------------------------------------------------------------------- NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES -90,698 832,161 835,505 -------------------------------------------------------------------------------------------------- Effect of changes in currency exchange rates -8,403 5,483 -7,655 -------------------------------------------------------------------------------------------------- NET CHANGE IN CASH AND CASH EQUIVALENTS -624,847 836,871 838,741 -------------------------------------------------------------------------------------------------- CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD 1,320,275 481,534 481,534 -------------------------------------------------------------------------------------------------- CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 695,428 1,318,405 1,320,275 --------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------- (AMOUNTS IN NOK 1.000) 30.09.01 31.12.00 30.09.00 -------------------------------------------------------------------------------- R&D, Purchased technology 43,018 Deferred tax assets 9,303 17,889 23,172 Goodwill 11,340 123,533 75,523 Property, plant, equipment 216,135 178,603 167,715 Financial non-current assets 449,680 396,075 372,698 NON-CURRENT ASSETS 686,458 716,100 682,126 Invesntories 489,394 269,105 278,859 Trade receivables 847,614 785,851 647,294 Other recevables 406,924 385,874 333,811 Short-term shareholdings 2,300 Cash and cash equivalents 695,427 1,320,275 1,318,405 ------------------------------------------------------------------------------- CURRENT ASSESTS 2,439,359 2,761,105 2,580,669 -------------------------------------------------------------------------------- TOTAL ASSETS 3,125,817 3,477,205 3,262,795 ================================================================================ Shareholder's equity 1,747,919 1,976,990 1,968,673 Long-term liabilities 92,400 301,455 291,702 Current liabilities 1,285,498 1,198,760 1,002,420 -------------------------------------------------------------------------------- TOTAL EQUITY AND LIABILITIES 3,125,817 3,477,205 3,262,795 ================================================================================ -------------------------------------------------------------------------------- Interest bearing current liabilities 205,805 61,807 61,952 Interest bearing long-term liabilities 187,108 191,465 --------------------------------------------------------------------------------

30.09.01 30.09.00 - Operating margin (1) before R&D 9,9% 16,3% - R&D in percent of sales revenue 12,7% 11,6% - Operating margin(2) = Operating income in percent of sales revenue (before restructuring) -2,8% 4,7% - Earnings per share NOK -1,64 NOK 0,91

--------------------------------------------------------------------------------------------------------- (Belop i 1.000 NOK) Q3 Q2 Q1 Q4 Q3 Q2 Q1 2001 2001 2001 2000 2000 2000 2000 --------------------------------------------------------------------------------------------------------- ORDERS RECEVED 450,033 646,491 702,902 842,155 617,495 853,149 589,244 SALES REVENUE 643,385 752,075 723,805 842,786 543,990 548,476 614,564 OPERATING INCOME BEFORE RESTRUCTURING -20,658 -29,965 -9,393 23,583 919 29,901 50,079 OPERATING INCOME -209,166 -29,965 -9,393 23,583 919 29,901 50,079 INCOME BEFORE TAX -207,729 4,182 21,266 59,784 30,337 40,488 62,670 ---------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------------------------- (Amounts in MNOK) Q3 Q2 Q1 Q4 Q3 Q2 Q1 BUSINESS AREAS 2001 2001 2001 2000 2000 2000 2000 -------------------------------------------------------------------------------------------------------------------------------- Transmission 337 74,9% 501 77,0% 503 71,5% 730 86,7% 482 78,0% 635 74,5% 368 62,6% Networks Satellite 112 25,0% 142 22,0% 199 28,4% 122 14,5% 127 20,6% 135 15,8% 192 32,5% Communications Wireless Broadband Access 0 0,0% 7 1,0% 2 0,3% 17 2,0% 9 1,4% 46 5,4% 0 0,0% Other/Elimination 1 0,1% -4 0,0% -1 -0,2% -27 -3,2% 0 0,0% 37 4,3% 29 4,9% -------------------------------------------------------------------------------------------------------------------------------- TOTAL 450 100% 646 100% 703 100% 842 100% 618 100% 853 100% 589 100% ================================================================================================================================

-------------------------------------------------------------------------------------------------------------------------------- (Amounts in MNOK) Q3 Q2 Q1 Q4 Q3 Q2 Q1 BUSINESS AREAS 2001 2001 2001 2000 2000 2000 2000 -------------------------------------------------------------------------------------------------------------------------------- Transmission Networks 504 78,3% 599 79,7% 558 77,2% 687 81,5% 383 70,4% 356 65,0% 376 61,1% Satellite Communications 128 20,0% 144 19,1% 155 21,4% 163 19,3% 160 29,4% 176 32,1% 210 34,2% Wireless Broadband Access 11 1,7% 9 1,2% 12 1,6% 15 1,8% 1 0,2% 0 0,0% 0 0,0% Other/ Elimination 0 0,0% 0 0,0% -2 0,0% -22 -2,6% 0 0,0% 16 2,9% 29 4,7% -------------------------------------------------------------------------------------------------------------------------------- TOTAL 643 100% 752 100% 723 100% 843 100% 544 100% 548 100% 615 100% ================================================================================================================================

---------------------------------------------------------------------------------------------------------------- (Amounts in MNOK) 01.01-30.09 01.01-30.09 YEAR Q3 Q3 MARKET 2001 2000 2000 2001 2000 ---------------------------------------------------------------------------------------------------------------- Norway 189 10,5% 102 5,0% 192 6,6% 48 10,7% 30 4,9% UK 82 4,6% 259 12,6% 276 9,5% 17 3,8% 11 1,8% Rest of Europe 442 24,6% 585 28,4% 703 24,2% 86 19,1% 197 32,0% America 554 30,8% 554 26,9% 802 27,6% 181 40,2% 160 25,9% Africa 32 1,8% 225 10,9% 292 10,1% 13 2,8% 103 16,7% Asia 474 26,4% 305 14,8% 438 15,1% 93 20,7% 104 16,9% Oceania 25 1,4% 30 1,4% 198 6,8% 12 2,6% 11 1,9% ---------------------------------------------------------------------------------------------------------------- TOTAL 1 799 100% 2 060 100% 2 902 100% 450 100% 616 100% ================================================================================================================

--------------------------------------------------------------------------------------------------------- (Amounts in MNOK) 01.01-30.09 01.01-30.09 YEAR Q3 Q3 MARKET 2001 2000 2000 2001 2000 --------------------------------------------------------------------------------------------------------- Norway 164 7,8% 105 6,2% 168 6,6% 54 8,4% 36 6,7% UK 177 8,4% 223 13,1% 310 12,2% 27 4,2% 84 15,5% Rest of Europe 384 18,1% 522 30,6% 711 27,9% 131 20,4% 146 26,9% America 640 30,2% 393 23,0% 668 26,2% 205 31,9% 130 23,9% Africa 175 8,3% 108 6,3% 180 7,1% 31 4,8% 38 6,9% Asia 423 20,0% 324 19,0% 463 18,2% 187 29,1% 98 18,1% Oceania 155 7,3% 32 1,9% 50 1,9% 8 1,2% 11 2,1% --------------------------------------------------------------------------------------------------------- TOTAL 2 119 100% 1 707 100% 2 550 100% 643 100% 543 100% =========================================================================================================

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