2009-10-23 08:15:00 CEST
2009-10-23 08:16:55 CEST
REGULATED INFORMATION
Stonesoft - Interim report (Q1 and Q3)
STONESOFT CORPORATION'S INTERIM REPORT FOR JANUARY-SEPTEMBER 2009
Stonesoft Corporation Stock Exchange Release October 23, 2009 at 9:15
a.m.
STONESOFT CORPORATION'S INTERIM REPORT FOR JANUARY-SEPTEMBER 2009
POSITIVE OPERATING RESULT IN THE THIRD QUARTER
The operating result (EBIT) of Stonesoft Corporation was 0.5 million
positive during the third quarter whereas it was 0.5 million negative
during the corresponding period in the previous year. Also the net
sales of the company increased slightly compared to the corresponding
period in the previous year and was EUR 6.0 (5.9) million. The
development of the net sales met the expectations of the company. The
operating profit was better than expected mainly in consequence of
the structure of the sales materialized at the end of the period and
its impacts to the company's cost structure and gross margin.
Summary
The comparable figures from the corresponding period in the previous
year are in brackets and refer to the figures of continuing
operations.
July-September 2009
- Net sales EUR 6.0 (5.9) million, growth 2%
- Product sales EUR 3.2 (3.3) million, decrease -3%
- Operating result EUR 0.5 (-0.5) million
- Operating result as percentage of net sales 9% (-9%)
- Earnings per share EUR 0.01 (-0.01)
- Cash flow EUR -1.2 (-0.6) million
- Interest bearing funds exceeded interest bearing debts by EUR 5.5
(7.3) million. The group did not have interest bearing debts.
January-September 2009
- Net sales EUR 17.1 (17.5) million, decrease -2%
- Product sales EUR 9.0 (10.6) million, decrease -15%
- The operating result EUR -1.1 (-2.1) million
- The operating result as percentage of net sales -7% (-12%)
- Cash flow EUR -1.5 (-1.7) million. The last part of the selling
price of Embe Systems Oy, EUR 0.8 million has been removed from the
total cash flow of the previous year.
Product sales has previously been referred to as "Stonesoft's core
business, the sales of the StoneGate product family". The term has
been changed because currently the product sales comprises in
practice solely of StoneGate sales.
CEO Ilkka Hiidenheimo
Our longstanding efforts to develop the business of the company and
to improve the efficiency of sales and cost management brought
visible results during the third quarter of the year.
The operating profit (EBIT) of the company was clearly positive
during the third quarter, or approximately EUR 0.5 (-0.5) million.
Also the net sales of the company increased slightly compared to the
corresponding period in the previous year.
I am particularly proud of the fact that despite the difficult market
situation we were able to grow our sales and thus also our market
share. Thanks to our employees' strong commitment and contribution we
also managed to significantly improve the profitability of the
company.
In our main market area, Europe, the product sales stayed on the same
level as during the previous quarters. Our sales in America developed
more positively than expected, but the sales in Russia did not meet
our expectations during this quarter.
The success is based on the extremely competitive product offering
that has been brought by our strong product development. The
performance of our newest StoneGate products meets the demands of the
high capacity networks of enterprises and telecom operators today and
in the near future. We have proven our ability to deliver
comprehensive network solutions, which meet the exceptionally high
demands of critical network environments and enable increased
efficiency and flexibility.
NET SALES AND RESULT
July-September 2009 (hereinafter 'reporting period')
The group's net sales in the reporting period were EUR 6.0 (5.9)
million. The growth compared to the corresponding period in the
previous year was EUR 0.1 (1.8) million, or 2%. The operating result
(EBIT) was EUR 0.5 (-0.5) million and the result after taxes was EUR
0.6 (-0.5) million.
The product sales, which consists practically of the sales of the
StoneGate product family, were EUR 3.2 (3.3) million, a decrease of
-3% compared to the corresponding period in the previous year. The
StoneGate product family comprises of a firewall, VPN, SSL VPN and
IPS (Intrusion detection and Prevention System) solutions.
The geographical distribution of net sales was as follows: Europe 60%
(62%), Emerging Markets (Russia, North Africa and Middle East), 13%
(17%) Americas (North and South America) 24% (15%) and APAC
(Asia-Pacific) 3% (6%).
January-September 2009 (hereinafter 'fiscal period')
The group's net sales in the fiscal period were EUR 17.1 (17.5)
million. The decrease compared with the previous year's corresponding
period was EUR -0.4 million, or -2%. The operating result (EBIT) was
EUR -1.1 (-2.1) million and the loss after taxes was EUR -1.0 (-1.9)
million.
The product sales were EUR 9.0 (10.6) million, a decrease of -15%
compared to the corresponding period in the previous year.
The geographical distribution of net sales was as follows: Europe 63%
(61%), Emerging Markets (Russia, North Africa and Middle East)15%
(16%), Americas (North and South America) 19% (19%) and APAC
(Asia-Pacific) 3% (4%).
Finance and investments
At the end of the fiscal period, the group's total assets were EUR
14.1 (15.2) million. The equity ratio was 45% (46%) and gearing (the
ratio of net debt to shareholder's equity) -2.08 (-1.95).
Consolidated liquid assets of the group at the end of the fiscal
period totaled EUR 5.5 (7.3) million. Investments in tangible and
intangible assets were EUR 0.3 (0.4) million.
In order to strengthen the company's capital structure and to ensure
the continuance of the positive development in the future in line
with the company's strategy and growth plan, the main shareholders of
the company have confirmed to the Annual General Meeting held on
March 26, 2009 their readiness to invest at least three (3) million
Euros in the company in form of convertible bond or directed issuance
of shares. The commitment is in force until the end of the AGM in
2010.
The company has not executed the convertible bond arrangement or
directed issuance of shares.
DEVELOPMENT OF BUSINESS OPERATIONS
Main business events in the reporting period
- In July, Stonesoft introduced the new StoneGate FW-5105
firewall/VPN and StoneGate IPS-6105 intrusion prevention system
appliances designed for most demanding high capacity environments.
The new firewall offers up to 25 Gbit/s and the IPS appliance up to
10 Gbit/s performance.
- In August, Stonesoft introduced the new StoneGate SSL-1030
appliance that has been designed to meet the needs of small and
medium-sized organizations. The solution is also a valuable tool for
MSSPs (Managed Security Service Providers), offering them a
straightforward, simple way to fulfill the security and mobility
requirements of their customers.
- In September, the US based Info Security Products Guide,
industry's leading publication on security-related products and
technologies named Stonesoft a winner of the 2009 Best Deployment
Scenario Awards in the Firewall Solution category.
- In September, Stonesoft announced that its StoneGate VPN Client
has passed the "Compatible with Windows 7" testing requirements for
compatibility.
MAJOR EVENTS AFTER THE FISCAL PERIOD
In October, Stonesoft published advance information on the operating
result of the third quarter, according to which the operating profit
(EBIT) of the company was clearly positive during the third quarter,
or approximately EUR 0,5 (-0.5) million. According to the advance
information also the net sales of the company increased slightly
compared to the corresponding period in the previous year.
REVIEW OF MAJOR RESEARCH AND DEVELOPMENT ACTIVITIES
Stonesoft continued its strong investments in R&D. The R&D
investments during the fiscal period totaled EUR 3.6 (3.8) million,
which represented 22% (22%) of operating expenses.
R&D employed 62 (67) persons at the end of the reporting period.
SHARE CAPITAL AND STOCK OPTION PROGRAMS
At the end of the fiscal period, Stonesoft's share capital recorded
in the Trade Register totaled EUR 1 146 054.64. The number of shares
was 57 302 732. The share capital remained unchanged.
Stock option programs
The company has two valid stock option programs, the Stock Option
Program 2004-2010, the subscription price of which is EUR 0.56, and
the Stock Option Program 2008-2014, the subscription price of which
is EUR 0.30. During the fiscal period no subscriptions were made on
the basis of the stock option programs for the key personnel of the
company.
DEVELOPMENT OF SHARE PRICES AND TURNOVER
In the beginning of the fiscal period the price of Stonesoft's share
was EUR 0.32 (0.29). At the end of the fiscal period the price was
EUR 0.46 (0.38). The highest price was EUR 0.52 (0.50) and the lowest
EUR 0.31 (0.24). The share price divided by earnings per share (P/E)
at the end of the fiscal period was -27.2 (-10.7). During the fiscal
period the total turnover of Stonesoft shares amounted to EUR 2.4
(4.0) million and 6.0 (11.8) million shares, which is 10.5 (20.5) %
of the total amount of the shares. Based on the share price at the
end of the fiscal period, Stonesoft's market value was EUR 26.4
(21.8) million.
NOTICES IN CHANGE OF OWNERSHIP
During the fiscal period, the company gave no notices of changes in
ownership.
ACQUISITIONS AND CHANGES IN GROUP STRUCTURE
No acquisitions were made and no other changes in the group structure
were implemented during the reporting period.
PERSONNEL
At the end of the fiscal period, the group's personnel totaled 173
(188).
AUTHORIZATIONS OF THE BOARD OF DIRECTORS
The Annual General Meeting held on March 26, 2009 decided to grant
the Board of Directors an authorization, according to which the Board
of Directors may decide to issue new shares in one or several issues
and to grant option and other special rights. The total number of
shares or rights to the shares issued may be 11.450.000 at the
maximum.
Based on the authorization, the Board of Directors may decide to
issue new shares for subscription according to the shareholders'
pre-emptive subscription rights or in deviation from the
shareholders' pre-emptive subscription right, or in a directed issue
of option rights or other special rights in case the deviation is
justified by a weighty financial reason for the company, such as
financing of an acquisition, other arrangement concerning the
business of the company or development of its capital structure, or
incentive to the company's personnel.
The issue may be directed in whole or in part to the main
shareholders of the company Ilkka Hiidenheimo and Hannu Turunen, who
have confirmed still to be ready to invest at least three (3) million
Euros in the company in form of convertible bond or directed issuance
of shares in order to strengthen the company's capital structure with
an additional cash reserve and to ensure the continuance of the
positive development in the future in line with the company's
strategy and growth plan. The commitment given by the main
shareholders is in force until the end of the AGM in 2010.
The Board of Directors was authorized to decide on other terms and
conditions related to the share issues and to the issuance of option
or other special rights. The authorization is in force until the end
of 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 not
have an authorization to acquire its own shares.
CORPORATE GOVERNANCE
Stonesoft Corporation complies with the Corporate Governance
Recommendations for listed companies issued by the Confederation of
Finnish Industries EK, the NASDAQ OMX Helsinki Ltd and the Central
Chamber of Commerce in October 2008, as described on the web pages of
the company.RISKS AND BUSINESS UNCERTAINTIES IN THE NEAR FUTURE
In the current fiscal period, Stonesoft's main risks and business
uncertainties relate to the realization timetable of the sales
projects and possible productions disruption of our subcontractors
and suppliers. In addition to these factors, the general economical
uncertainty that has previously grown strongly seems to be
diminishing.
With regard to the development of the turnover and the operating
result, there is significant variation between the quarters in
comparison to the corresponding quarter during the previous year as
well as to the previous quarter as a consequence of, among others,
long sales cycles, a relatively big impact of individual deals, and
the variation between the quarters in the previous year.
Stonesoft's risk management as well as internal control and internal
audit are described in the company's Annual Report of 2008 and in the
company's web site in the Corporate Governance section.
FUTURE OUTLOOK
Companies will continue to network with their partners and
subcontractors, and this development will create even higher
requirements for network security and availability. At the same time,
the demand for outsourcing solutions and services will grow. Managed
Security Service Providers (MSSPs) have a growing need to provide
their customers with the possibility to track the status of their
network security while maintaining an overview of their own data
network. According to the company's view combining security and high
availability, 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 will
create more demand for capacity and drive the adoption of 10 Gbps
networks. The growing demand for added bandwidth together with new
protocols in the IP networks is expected to increase the general
demand for better reporting, monitoring and analysis tools. This
development will support Stonesoft in achieving its year 2009 growth
plan, since these are the cornerstones in StoneGate Management
Center's functionality.
The strong growth of virtualization has created a demand for ensuring
network security and business continuity also in virtual
environments. StoneGate products are better suited for virtual
environments than the competitors' products because they are based on
software solutions.
As security threats in the public sector increase, growing number of
government organizations have started improving their protection
against network attacks and for example cyber espionage. StoneGate
products offer comprehensive, centrally managed protection and suit
well to the needs of the public sector.
While the global financial uncertainty continues, companies need to
pay attention to the cost efficiency of their operations. This will
further strengthen the competitiveness of the StoneGate solutions and
emphasize the possibilities the solutions offer for generating
considerable cost savings in relation to infrastructure,
communications and operating costs.
Based on the existing sales pipeline and the already realized
operating result and net sales, the company expects the annual
operating result (EBIT) to be better than in the previous year (EUR
-2.3 million) and the annual net sales to remain at the previous
year's level. The net sales are expected to be EUR 24.3 million, +/-
EUR 1.5 million.
Stonesoft Group
Income Statement 7-9/2009 7-9/2008 1-9/2009 1-9/2008 1-12/2008
(1000 Euro)
Continuing operations
Net sales 5 965 5 861 17 087 17 491 24 427
Other operating income 188 299 694 871 1 275
Materials and services -872 -792 -2 686 -2 686 -3 547
Personnel expenses -3 055 -3 511 -10 344 -10 797 -14 796
Depreciation -113 -135 -341 -364 -483
Other operating
expenses -1 568 -2 234 -5 548 -6 622 -9 161
Operating result 546 -511 -1 137 -2 108 -2 286
Financial income and
expenses 131 97 280 216 276
Result before taxes 677 -415 -857 -1 892 -2 010
Taxes -36 -51 -116 -150 -219
Result from continuing
operations 640 -466 -973 -2 042 -2 229
Result from
discontinued operations 0 0 0 186 186
Result for the
accounting period 640 -466 -973 -1 856 -2 043
Other comprehensive
income
Exchange differences on
translating foreign
operations -3 35 7 -23 -30
Total other
comprehensive income -3 35 7 -23 -30
Total comprehensive
income 637 -431 -966 -1 879 -2 068
Basic earnings per
share (EUR),
continuing operations 0,01 -0,01 -0,02 -0,04 -0,04
Diluted earnings per
share (EUR),
continuing operations 0,01 -0,01 -0,02 -0,04 -0,04
Basic earnings per
share (EUR),
discontinued operations 0,00 0,00 0,00 0,00 0,00
Diluted earnings per
share (EUR),
discontinued operations 0,00 0,00 0,00 0,00 0,00
Stonesoft Group
Balance Sheet (1000 Euro) 30.9.2009 30.9.2008 31.12.2008
ASSETS
Non-Current Assets
Tangible assets 552 724 692
Intangible assets 162 114 104
Other investments 10 10 10
Deferred tax assets 0 0 0
Total 725 848 806
Current assets
Inventories 541 852 911
Trade and other receivables 7 249 6 115 7 371
Prepayments 64 110 19
Marketable securities 4 742 6 543 6 310
Cash and cash equivalents 779 711 738
Total 13 376 14 331 15 348
Total assets 14 100 15 179 16 154
EQUITY AND LIABILITIES
Equity attributable to equity holders
of the parent company
Share capital 1 146 1 146 1 146
Share premium account 76 821 76 821 76 821
Conversion differences -945 -950 -951
Retained earnings -74 372 -73 295 -73 473
Total 2 650 3 722 3 543
Long-term liabilities
Provisions 0 36 26
Other long-term
liabilities (* 2 626 2 160 2 336
Total 2 626 2 196 2 363
Short-term liabilities
Trade and other
payables (* 8 634 9 090 9 991
Tax liability 80 39 41
Provisions 110 127 214
Short-term interest bearing
liabilities 0 5 2
Total 8 824 9 261 10 248
Total liabilities 11 450 11 457 12 611
Total equity and liabilities 14 100 15 179 16 154
*) Other liabilities include
customers'
pre-paid maintenance agreements
periodicity 8 187 7 097 8 372
Stonesoft Group
Statement of changes in
equity
(1000 Euro)
Share Share Conversion Retained
capital premium differences earnings Total
Shareholders' equity at
1.1.2008 1 146 76 821 -927 -71 461 5 579
Comprehensive income -23 -1 856 -1 879
Stock options 23 23
At the closing on
31.12.2008 transferred
stock option expenses
accumulated retained
earnings
Shareholders' equity at
30.6.2008 -23 23 0
1 146 76 821 -950 -73 295 3 722
Share Share Conversion Retained
capital premium differences earnings Total
Shareholders' equity at
1.1.2009 1 146 76 821 -951 -73 473 3 543
Comprehensive income 7 -973 -966
Stock options 73 73
Shareholders' equity at
30.6.2009 1 146 76 821 -945 -74 372 2 650
Stonesoft Group
Cash flow statement
(1000 Euro) 1.1.-30.9.2009 1.1.-30.9.2008 1.1.-31.12.2008
Cash flow from
operating activities
Operating Result -1 137 -2 108 -2 286
Adjustments
Non-cash
transactions -7 134 319
Financial
expenses -94 -43 -93
Financial incomes 248 259 375
Change in net
working capital -307 639 614
Taxes paid -101 -149 -218
Total cash flow from
operating activities -1 398 -1 268 -1 288
Cash flow from
investing activities
Investments in
tangible assets -163 -345 -422
Investments in
intangible assets -97 -66 -66
Investments in
affiliated company 0 0 0
Investments in other
shares 0 -10 -10
Net cash flow
investing activities
continuing operations -259 -421 -498
Net cash flow
investing activities
discontinued
operations 0 761 761
Total cash flow
investing activities -259 340 263
Cash flow from
financing activities
Payments of
financial leasing
liabilities -2 -69 -72
Total cash flow from
financing activities -2 -69 -72
Change in cash and cash
equivalents
Cash and cash
equivalents at
beginning of period 7 048 8 210 8 210
Conversion
differences 7 -23 -30
Changes in the
market value of
investments 126 64 -34
Total cash and cash
equivalents at end of
period *) 5 521 7 254 7 048
*) Total cash and cash
equivalents at end of
the period
contains pledged
securities 316 282 315
Stonesoft Group
Geographical segments 1.1.-30.9.2009 1.1.-30.9.2008 1.1.-31.12.2008
(1000 Euro)
Net sales
Europe 10 737 10 593 14 740
Emerging Market 2 589 2 864 4 123
Americas 3 275 3 262 4 495
APAC 487 772 1 069
Total net sales 17 087 17 491 24 427
Operating profit
Europe 40 -1 025 -1 061
Emerging Market -10 78 338
Americas -1 074 -1 097 -1 532
APAC -93 -63 -31
Total operating profit -1 137 -2 108 -2 286
Stonesoft Group
Contingent liabilities 1.1.-30.9.2009 1.1.-30.9.2008 1.1.-31.12.2008
(1000 Euro)
Contingent off-balance
sheet
Non-cancelable other
leases
Contingent
liabilities for the
Company 2 683 3 711 3 377
27 27 63
Stonesoft Group
Related party
information 1.1.-30.9.2009 1.1.-30.9.2008 1.1.-30.9.2008
(1000 Euro)
Consultation fees paid
to the Board of
Directors 0 0 0
Stonesoft Group
Quarterly development Q3 / Q2 / Q1 / Q4 / Q3 / Q2 / Q1 /
(Euro Millions) 2009 2009 2009 2008 2008 2008 2008 2008
Software 0,4 0,3 0,4 1,0 0,5 0,7 0,4 2,6
Security appliances 2,9 3,1 2,0 3,4 2,8 3,4 2,8 12,3
Services 2,7 2,7 2,6 2,6 2,4 2,3 2,2 9,5
Other products 0,0 0,0 0,1 0,0 0,1 0,0 -0,1 0,1
Net sales continuing
operations 6,0 6,0 5,1 6,9 5,9 6,4 5,3 24,4
Change-% from previous
year 2 -5 -3 19 45 32 22 28
Sales margin 5,1 4,9 4,4 6,1 5,1 5,4 4,3 20,9
Sales margin % 85 81 86 88 86 85 82 85
Operative expenses 4,7 5,8 5,7 6,6 5,9 6,0 5,8 24,4
Operating profit (EBITA) 0,5 -0,6 -1,1 -0,2 -0,5 -0,4 -1,2 -2,3
% of net sales 9 -9 -22 -3 -9 -6 -24 -9
Result before taxes 0,7 -0,5 -1,0 -0,1 -0,4 -0,3 -1,2 -2,0
% of net sales 11 -8 -20 -2 -7 -4 -23 -8
Stonesoft Group
Key ratios 1.1.-30.9.2009 1.1.-30.9.2008 1.1.-31.12.2008
(1000 Euro)
Net sales, continuing
operations 17 087 17 491 24 427
Net sales change-% -2 32 28
Operating result,
continuing operations -1 137 -2 108 -2 286
% of net sales -7 -12 -9
Operating result before
taxes -857 -1 892 -2 010
% of net sales -5 -11 -8
ROE - %, annualized,
continuing operations -42 -59 -49
ROI - %, annualized -31 -51 -40
Equity ratio-% 45 46 46
Net gearing -2,08 -1,95 -1,99
Total Assets 14 100 15 179 16 154
Capital expenditure 259 411 488
Capital disposals 20 0 0
R&D costs 3 614 3 849 5 230
% of net sales 21 22 21
Number of employees
(weighted average) 180 182 183
Number of employees
(end of the period 173 188 185
Share Specific Ratios
Earnings per share,
continuing operations -0,02 -0,04 -0,04
Earnings per share,
discontinued operations 0,00 0,00 0,00
Equity per share 0,05 0,06 0,06
Dividend 0,00 0,00 0,00
Dividend per share
(EUR) 0,00 0,00 0,00
Dividend / Profit-% 0 0 0
Calculation of
indicators
Return on equity (Profit before taxes - income taxes)
(ROE) % = x 100 /
Shareholders' equity + minority interest
(average)
Return on invested (Profit before extraordinary items+interest and
capital (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 on
Net gearing = deposit - marketable securities /
Equity + minority interest
Earning per share Profit before taxes - minority interest
(EPS) = - income taxes /
Average number of shares adjusted for
dilutive effect of options
Equity per share = Equity /
Number of shares at end of period
ACCOUNTING PRINCIPLES
This Interim Report is prepared in accordance with IAS 34 standard.
Stonesoft Group has changed its bookkeeping practice regarding
consulting fees for consults working full-time for Stonesoft sales
and presales functions starting from January 1, 2008. According to
the new practice these fees are included in the other operating
expenses. The figures of the previous year have been adjusted to be
comparable with the new bookkeeping practice. In all other aspects
the Group has adapted the same accounting principles and reporting
standards as in the Financial Statement for 2007.
FORWARD-LOOKING STATEMENTS
This report contains statements concerning, among other things,
Stonesoft's financial condition and the results of operations that
are forward-looking in nature. Such statements are not historical
facts, but rather represent Stonesoft's future expectations. The
company believes that the expectations reflected in these
forward-looking statements are based on reasonable assumptions.
However, these forward-looking statements involve inherent risks and
uncertainties, which could cause actual results or outcomes to differ
materially from those anticipated in the statements. These risks and
uncertainties may include, among other things, (1) changes in our
market position or in the Firewall/VPN and Intrusion detection and
protection market in general; (2) the effects of competition; (3) the
success, financial condition, and performance of our collaboration
partners, suppliers and customers;(4) our ability to source quality
components without interruption and at acceptable prices;(5) our
ability to recruit, retain and develop appropriately skilled
employees;(6) exchange rate fluctuations, including, in particular,
fluctuations between the Euro, which is our reporting currency, and
the US dollar;(7) other factors related to sale of products, economic
situation, business, competition or legislation affecting the
business of Stonesoft or the industry in general and (8) our ability
to control the variety of factors affecting our ability to reach our
targets and give accurate forecasts.
The presented figures are unaudited.
PRESS CONFERENCE
A press conference for analysts and investors will be held on October
23, 2009 at 10.30 am at the Stonesoft headquarters, street address
Itälahdenkatu 22 A, 00210 Helsinki.
For additional information, please contact:
Ilkka Hiidenheimo, CEO, Stonesoft Corporation
Tel. +358 9 476 711
E-mail: ilkka.hiidenheimo@stonesoft.com
Mikael Nyberg, CFO, Stonesoft Corporation
Tel. +358 9 476 711
E-mail: mikael.nyberg@stonesoft.com
Stonesoft Corporation
Ilkka Hiidenheimo
CEO
This release and the presentation material related to this report are
also available on Stonesoft's web site at www.stonesoft.com.
Distribution:
NASDAQ OMX Helsinki Ltd
www.stonesoft.com
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