Annual Report 2004

– Net revenue grew by 28% to SEK 1,103.1 (859.2) million.
– Profit after financial items reduced by 74% to SEK 16.6 (63.0) million.*
– Earnings per share after tax were SEK 1.17 (5.41).

• A new full-scale prototyping laboratory, NOTE Lab, was opened in Borås, western
Sweden, in May. Later in the year, NOTE reached a collaboration agreement with
Chalmers University of Technology, Gothenburg to locate a NOTE Lab at Chalmers.
• NOTE was floated on the Stockholm Stock Exchange O-list on 23 June, and six
months later, the NOTE share qualified for quotation on the Attract 40 section of
the O-list.
• An all-new production facility was opened in Torsby, central Sweden, in August.
This unit, with floor-space of roughly 50,000 sq.ft., is one of the most modern in
Europe and is specifically focused on electronics for harsh environments.
• NOTE reached an agreement regarding the production of all Åkerströms’
products in September, including forklift truck computers for extreme environments,
a contract guaranteeing minimum volumes of SEK 150 million. NOTE
also took over Åkerströms’ proprietary electronics production in Björbo, central
Sweden, coinciding with the agreement.
• NOTE started operations in the UK in October.
• In December, NOTE acquired Ericsson Anslutningssystem (connection systems)
in Skellefteå, northern Sweden, a subsidiary of the Ericsson group. Ericsson
Anslutningssystem develops and produces prototypes and products for the
telecom and electronics industries.
• NOTE also reached an agreement to acquire the Finnish EMS enterprise Point
Product Oy in December, whose customers are mainly in industrial electronics.
A production facility in Pärnu, Estonia was acquired at the same time.
• In December, NOTE was selected by Neonode Sweden AB as a volume producer
of its new Neonode N1 mobile phone, an order worth SEK 200 million, and one of
NOTE’s biggest yet.

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