2012-08-10 08:15:00 CEST
2012-08-10 08:15:56 CEST
REGULATED INFORMATION
Stonesoft - Interim report (Q1 and Q3)
Stonesoft Oyj :STONESOFT CORPORATION INTERIM REPORT FOR JANUARY-JUNE 2012
Stonesoft Corporation Stock Exchange Release 10 August 2012 at 9:15 a.m.
STONESOFT CORPORATION INTERIM REPORT FOR JANUARY-JUNE 2012
Strong growth continues
Stonesoft Corporation's product sales grew by 62% and net sales by 40% compared
to the corresponding period in the previous year. Operating result was MEUR
-0.4, which is MEUR 0.3 better than in the corresponding period in the previous
year. The company continued strong investments in accelerating future growth.
The comparable figures from the corresponding period in the previous year are in
brackets and refer to the figures of continuing operations.
April-June 2012
- Net sales MEUR 9.1 (6.5), growth 40%
- Product sales MEUR 5.4 (3.3), growth 62%
- Operating result MEUR -0.4 (-0.7)
- Operating result as percentage of net sales -5 (-12)%
- Earnings per share -0.01 (-0.01) EUR
- Operative cash flow MEUR -0.1 (-0.5)
- Liquid cash funds at the end of the fiscal period MEUR 9.1 (9.3). The
corporate had no interest-bearing debts.
January-June 2012
- Net sales MEUR 17.3 (13.0), growth 33%
- Product sales MEUR 10.4 (6.9), growth 50%
- Operating result MEUR -1.0 (-1.6)
- Operating result as percentage of net sales -6 (-12)%
- Earnings per share EUR -0.02 (-0.02) EUR
- Operative cash flow MEUR 1.4 (1.2)
CEO ILKKA HIIDENHEIMO
During the second quarter of the year 2012 Stonesoft's product sales grew by
62% and net sales by 40%. Turning the company's evasion competence into
additional sales has required significant additional investments in sales,
marketing and product development.
Our solutions were once again successful in international products tests and
evaluations. In NSS Labs' latest Intrusion Prevention System tests, Stonesoft's
solution provided full protection against evasions tested in the production
environment with low TCO. The product was also praised for its reliability and
stability. In addition, the research company Gartner positioned Stonesoft in the"visionaries" quadrant in its latest IPS Magic Quadrant.
We continued to invest strongly in our cyber security competence and appointed a
leading expert, Mr. Jarno Limnéll, Doctor of Military Science to develop the
strategy and business in this field. Cyber security has become one of the most
important topics in public discussion and we wish to further reinforce our
position as the leading cyber security expert in the world.
During the second quarter we developed the Evader and Evasion Prevention System
products, which were introduced in July at the Black Hat event in the US. Evader
is a testing tool for advanced evasion techniques and Evasion Prevention System
(EPS) is the world's first evasion prevention product. Evader is a software-
based tool that empowers organizations to test for themselves, whether advanced
evasion techniques can bypass their security systems. Even though the testing
tool is a limited version, it allows the customer to verify by himself that most
competing solutions currently in use are incapable of providing protection
against evasions. EPS, on the other hand, is a new, modular security product,
which has been designed especially for protection against advanced evasion
techniques. The solutions are a part of our philosophy, according to which
network security is a dynamic area and security solutions must be able to adapt
to new challenges and to keep ahead of the development.
The strong growth and wide international recognition prove that our solutions
are working. To ensure success, we have also strengthened our sales
organization. We are on the right track.
NET SALES AND RESULT
April-June 2012 (hereinafter 'reporting period')
The Group's net sales in the fiscal period were MEUR 9.1 (6.5). Increase
compared to the corresponding period in the previous year was MEUR 2.6, or 40%.
The operating result (EBIT) was MEUR -0.4 (-0.7) and the result after taxes was
MEUR -0.4 (-0.8).
Product sales were MEUR 5.4 (3.3), growth by 62% compared to the corresponding
quarter in the previous year.
The geographical distribution of net sales was as follows: Europe 76 (76)%,
Emerging Markets (North Africa, Middle East and Latin America) 10 (9)%, North
America 10 (12)% and APAC (Asia-Pacific) 4 (3)%.
January-June 2012 (hereinafter 'fiscal period')
The Group's net sales in the fiscal period were MEUR 17.3 (13.0). Increase
compared to the corresponding period in the previous year was MEUR 4.3, or 33%.
The operating result (EBIT) was MEUR -1.0 (-1.6) and the result after taxes was
MEUR -1.0 (-1.4).
Product sales were MEUR 10.4 (6.9), growth by 50% compared to the corresponding
quarter in the previous year.
The geographical distribution of net sales was as follows: Europe 72 (71)%,
Emerging Markets (North Africa, Middle East and Latin America) 14 (13)%, North
America 11 (13)% and APAC (Asia-Pacific) 3 (3)%.
FINANCE AND INVESTMENTS
At the end of the fiscal period, the Group's total assets were MEUR 21.7 (18.8).
The equity ratio was 36 (40)% and gearing (the ratio of net debt to
shareholders' equity) was -3.02 (-2.89).
The operative cash flow during the fiscal period was MEUR 1.4 (1.2). The Group
has no interest-bearing debt. The consolidated liquid assets at the end of the
fiscal period totalled MEUR 9.1 (9.3).
Investments in tangible and intangible assets totalled MEUR 0.6 (0.4).
DEVELOPMENT OF BUSINESS OPERATIONS
Main business events in the fiscal period
In April Stonesoft announced its firewall solution has received the IPv6
certification of the US-based ICSA Labs as well as met the U.S. National
Institute of Standards and Technology's USGv6 evaluation requirements.
In April Stonesoft announced it has joined the IBM company Q1 Labs' Security
Intelligence Partner Program (SIPP).
In May Stonesoft appointed Jarno Limnéll, Doctor of Military Science, as
Director, Cyber Security. Mr. Limnéll's main areas of responsibility are issues
related to cyber security, including cyber security strategies and partnerships.
Main business events after the fiscal period
In July Stonesoft published the new Evasion Prevention System (EPS) security
solution. EPS provides organizations with an easy and effective way to identify
advanced evasion techniques (AETs) and to protect themselves against them. In
addition, Stonesoft released the worlds's first Advanced Evasion Technique
testing tool, which allows organizations to test whether AETs can bypass their
security systems.
In August, Stonesoft announced its IPS-1302 intrusion prevention system had
received excellent results in NSS Labs' 2012 Intrusion Prevention Systems (IPS)
Test. product tests. NSS Labs confirmed that the Stonesoft IPS-1302 provides
100 % protection against all tested evasion techniques and low total cost of
ownership (TCO) during real-world traffic and threat scenarios.
In August, Stonesoft announced Mika Yletyinen has been appointed as Vice
President, European Sales and the Global Channel, and a member of the Executive
Management Team.
In August, Stonesoft announced Gartner, Inc. had placed the company in the
Visionaries Quadrant of its latest "Magic Quadrant for Intrusion Prevention
Systems (IPS)" report.
RESEARCH AND DEVELOPMENT
Stonesoft continued its strong investments in R&D. Investments during the fiscal
period totalled MEUR 3.8 (3.0). This represented 24 (23)% of operating expenses.
R&D employed 98 (76) persons at the end of the fiscal period.
SHARE CAPITAL AND STOCK OPTION PROGRAMS
Stonesoft has one class of shares and all shares have equal rights. At the end
of the fiscal period, the share capital recorded in the Trade Register was
1 150 574.64 Euros. The number of shares was 63 645 482. Stonesoft or its
daughter companies do not own its shares. There were no changes in the share
capital during the fiscal period.
Stock Option Programs
The company has two valid stock option programs, Stock Option Program 2008,
under which the subscription price is EUR 0.30 and the total number of stock
options to be granted based on this program is 3 000 000 at the maximum and
Stock Option Program 2012, the total number of stock options to be granted based
of which is 4 500 000 at the maximum. The subscription price for the 2012A
option rights based on the Option Program 2012 is 1.42 euros per share. The
subscription price for the stock options 2012B and 2012C will be determined
based on the conditions of the Option Program 2012 later. The subscription
period of the shares is graded and will end for all 2008 stock options on
December 31, 2014 and for 2012 stock options in 2017-2019.
Additional information about both option programs is provided by the company's
stock exchange releases and web pages.
During the fiscal period 153 000 shares were registered on the basis of the
stock option program 2008.
DEVELOPMENT OF SHARE PRICES AND TURNOVER
In the beginning of the fiscal period on January 1, 2012, the price of Stonesoft
share was EUR 0.86 (0.58). At the end of the fiscal period on 30 June 2012 the
price was EUR 1.09 (0.60). The highest price was EUR 1.78 (0.65) and the lowest
EUR 0.87 (0.51). During the fiscal period the total turnover of Stonesoft shares
amounted to MEUR 17.6 (3.8) and 13.5 (6.5) million shares, which is 21.2 (10.3)%
of the total amount of the shares. Based on the share price at the end of the
fiscal period, Stonesoft's market value was MEUR 69.4 (38.0).
The company gave no notices in change of ownership during the fiscal period.
ACQUISITIONS AND CHANGES IN GROUP STRUCTURE
No acquisitions were made during the fiscal period and there were no changes in
the Group structure.
PERSONNEL
At the end of the reporting period, the Group's personnel totalled 234 (203).
ANNUAL GENERAL MEETING AND THE AUTHORIZATIONS OF THE BOARD OF DIRECTORS
The Annual General Meeting of Stonesoft Corporation held on 25 April 2012
confirmed the financial statements from the fiscal year 1.1.-31.12.2011 and
granted release from liability for the members of the Board of Directors and the
Chief Executive Officer. The AGM decided, according to the proposal of the Board
of Directors, not to pay any dividends for the fiscal year 2011.
The AGM confirmed the number of Board members to be six (6). The AGM re-elected
Ilkka Hiidenheimo, Harri Koponen, Jukka Manner, Timo Syrjälä and Hannu Turunen
as a Board member and Satu Yrjänen as a new Board member. In its organizing
meeting held after the Annual General Meeting the Board of Directors of
Stonesoft Corporation elected Hannu Turunen as Chairman and Harri Koponen as
Vice Chairman.
The AGM decided on 25.4.2012 to authorize the Board of Directors to decide on
the issuance of shares, options and other special rights, in one or several
issues, so that the total number of new shares may be 12,600,000 at the maximum.
Based on the authorization the Board of Directors may decide on issuance of
shares to the shareholders according to the shareholders' pre-emptive
subscription rights as well as in a directed issuance of shares or stock options
or other special rights in deviation from the shareholders' pre-emptive
subscription 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 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 2013 AGM.
The Board of Directors is not authorized to purchase the company's own shares.
SHORT-TERM RISKS AND BUSINESS UNCERTAINTIES
There have been no significant changes in the risk scenario with respect to
Stonesoft. The global economical crisis may, however, have a negative impact on
the total demand. However, there is currently no effect on Stonesoft's sales in
sight with regard to the company's sales pipeline.
During the fiscal year 2012, Stonesoft's main risks and business uncertainties
relate to the realization timetable of the sales projects and possible
production disruption of our subcontractors and suppliers.
Risks and uncertainties as well as the principles of Stonesoft's risk management
are discussed more extensively at the company website and in the Annual Report
2011.
FUTURE OUTLOOK
Based on Stonesoft's estimate the growth of the total market will continue to
grow by 5% also during the year 2012.
In 2011, a development started whereby Stonesoft and other companies specialized
in network security grew strongly. Stonesoft assumes security threats to become
increasingly worrying, which will create new business opportunities for the
company.
Stonesoft's comprehensive product offering meets the rapidly developing and
changing security challenges, including the demands brought by cloud services,
virtualization and outsourcing of security.
Advanced Evasion Techniques
Stonesoft continued the research and commercial utilization of Advanced Evasion
Techniques (AETs).
Due to their own technology choices, many competitors still seem to have great
difficulties in amending their solutions to provide protection against AETs.
Leading research institutes such as Gartner have confirmed that the best
protection against new, advanced evasion techniques is provided by flexible,
software based systems. The threat posed by advanced evasion techniques does not
concern only intrusion prevention system (IPS) appliances, but also UTM (Unified
Threat Management) and next generation firewall appliances.
The above mentioned issues have opened new business opportunities for Stonesoft
and had a strong impact on the growth of the company's product sales. The
improved awareness of the threat posed by advanced evasion techniques has
brought the company new customers and made contacting target customers
significantly easier. In addition, the average size of both the customer
companies and the projects in the sales pipeline has grown compared to previous.
In July Stonesoft introduced the new Advanced Evasion Testing tool Evader as
well as the world's first Evasion Prevention System (EPS). With the testing
tool, organizations can test the level of their protection and with the evasion
prevention system they can protect themselves against advanced evasion
techniques.
Based on Stonesoft's view, these issues will continue to have a positive impact
on the company's net sales and profitability and will strengthen its
competitiveness and market position as the general understanding and knowledge
about advanced evasions techniques grow.
Stonesoft aims for at least 30% growth of net sales and a positive result for
the year 2012.
With regard to the development of the turnover and the operating result,
variation is expected 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 and the relatively big impact of
individual deals on the development of net sales and operating result.
SUMMARY OF FINANCIAL STATEMENTS AND NOTES JANUARY 1 - JUNE 30, 2012
Basis of preparation
The Interim Report has been prepared in accordance with the IAS 34 Interim
Reports standard.
The company has adopted certain new or revised IFRS standards and IFRIC
interpretations at the beginning of the financial period as described in the
Financial Statements for 2011. However, the adoption of these new and amended
standards has not yet had an effect on the reported figures in practice. In
other respects, the same accounting policies have been followed as in the
Financial Statements for 2011. Key indicator calculations remain unchanged.
The figures presented in this release are unaudited.
Stonesoft Group
Income Statement 4-6/2012 4-6/2011 1-6/2012 1-6/2011 1-12/2011
(1000 Euros)
Net sales 9 095 6 506 17 350 13 015 30 604
Other operating income 231 279 500 398 904
Materials and services -1 696 -862 -3 155 -1 941 -5 240
Personnel expenses -4 769 -4 007 -9 556 -8 038 -16 665
Depreciation -151 -124 -293 -248 -479
Other operating expenses -3 137 -2 540 -5 847 -4 762 -10 262
Operating result -427 -748 -1 001 -1 576 -1 137
Financial income and expenses 51 53 148 236 358
Result before taxes -376 -695 -853 -1 340 -779
Taxes -59 -62 -120 -93 -138
Result for the accounting period -436 -757 -973 -1 433 -917
Other comprehensive income
Exchange differences on
translating foreign operations 1 -3 6 -16 -3
Total other comprehensive income 1 -3 6 -16 -3
Total comprehensive income -434 -760 -966 -1 449 -920
Basic earnings per share (EUR),
continuing operations -0,01 -0,01 -0,02 -0,02 -0,01
Diluted earnings per share (EUR),
continuing operations -0,01 -0,01 -0,02 -0,02 -0,01
Stonesoft Group
Balance Sheet (1000
Euros) 30.6.2012 30.6.2011 31.12.2011
ASSETS
Non-Current Assets
Tangible assets 995 762 700
Intangible assets 151 186 162
Other investments 10 10 10
Total 1 156 958 872
Current assets
Inventories 1 345 1 361 1 508
Trade and other
receivables 9 973 7 169 10 847
Prepayments 125 64 220
Marketable securities 0 0 0
Cash and cash
equivalents 9 075 9 260 7 710
Total 20 518 17 853 20 285
Total assets 21 674 18 811 21 157
EQUITY AND LIABILITIES
Equity attributable to
equity holders of the
parent company
Share capital 1 151 1 151 1 151
Issue of shares 0 0 0
Share premium
account 76 602 76 602 76 602
Conversion
differences -948 -967 -954
Reserve for invested
unrestricted equity fund 4 708 4 751 4 732
Retained earnings -78 509 -78 334 -77 659
Total 3 004 3 202 3 873
Long-term liabilities
Prepayments
*) 4 029 3 022 3 157
Total 4 029 3 022 3 157
Short-term liabilities
Trade and other
payables
5 197 4 729 5 563
Prepayments
*) 9 229 7 685 8 381
Tax liability 138 122 126
Provisions 77 52 58
Total 14 640 12 587 14 127
Total liabilities 18 670 15 609 17 285
Total equity and
liabilities 21 674 18 811 21 157
*) Prepayments contain
customers advance
payment of support and
maintenance contracts 13 258 10 707 11 538
Stonesoft
Group
Statement of
changes in
equity
(1000 Euros)
Reserve
Issue for invested
Share of Share Conversion unrestricted Retained
capital shares premium differences equity fund earnings Total
Shareholders'
equity at
1.1.2011 1 151 0 76 603 -951 4 751 -76 986 4 567
Comprehensive -1
income 0 0 0 -16 0 -1 433 449
Reserve for
invested
unrestricted
equity fund
reduction 0 0 0 0 0 0 0
Transaction
costs from
equity 0 0 0 0 0 0 -1
Stock options
exercised 0 0 0 0 0 0 0
Stock option
expenses 0 0 0 0 0 85 85
Shareholders'
equity at
30.6.2011 1 151 0 76 602 -967 4 751 -78 334 3 202
Reserve
Issue for invested
Share of Share Conversion unrestricted Retained
capital shares premium differences equity fund earnings Total
Shareholders'
equity at
1.1.2012 1 151 0 76 602 -954 4 732 -77 659 3 873
Comprehensive
income 0 0 0 6 0 -973 -966
Reserve for
invested
unrestricted
equity fund
reduction 0 0 0 0 -70 70 0
Transaction
costs from
equity 0 0 0 0 0 0 0
Stock options
exercised 0 0 0 0 46 0 46
Stock option
expenses 0 0 0 0 0 53 53
Shareholders'
equity at
30.6.2012 1 151 0 76 602 -948 4 708 -78 509 3 004
Stonesoft Group
Cash flow statement
(1000 Euros) 1.1.-30.6.2012 1.1.-30.6.2011 1.1.-31.12.2011
Cash flow from
operating activities
Operating Result -1 001 -1 576 -1 137
Adjustments
Non-cash
transactions 96 57 334
Financial expenses -35 -76 -106
Financial incomes 183 313 445
Change in net
working capital 2 682 3 079 904
Taxes paid -29 -102 -218
Total cash flow from
operating activities 1 895 1 696 221
Cash flow from
investing activities
Investments in
tangible assets -556 -323 -460
Investments in
intangible assets -20 -111 -120
Total cash flow
investing activities -576 -435 -581
Cash flow from
financing activities
Stock options
exercised 46 -1 53
Total cash flow from
financing activities 46 -1 53
Change in cash and cash
equivalents
Cash and cash
equivalents at
beginning of period 7 710 8 016 8 016
Conversion
differences 0 -17 1
Changes in the
market value of
investments 0 0 0
Total cash and cash
equivalents at end of
period *) 9 075 9 260 7 710
*) Total cash and cash
equivalents at end of
the period
contains pledged
securities 521 467 496
Stonesoft Group
Geographical segments 1.1.-30.6.2012 1.1.-30.6.2011 1.1.-31.12.2011
(1000 Euros)
Net sales
Europe 12 439 9 275 20 979
Emerging Markets 2 392 1 740 3 926
Americas 2 026 1 641 4 656 APAC 493 359 1 043
Total net sales 17 350 13 015 30 604
Operating profit
Europe 88 -590 150
Emerging Markets -166 -286 -352
Americas -793 -530 -650
APAC -130 -171 -286
Total operating profit -1 001 -1 576 -1 137
Stonesoft Group
Contingent liabilities 1.1.-30.6.2012 1.1.-30.6.2011 1.1.-31.12.2011
(1000 Euros)
Contingent off-balance sheet
Non-cancellable other leases 1 626 2 024 1 970
Contingent liabilities for the
Company 223 171 223
Stonesoft Group
Quarterly development Q2 / Q1 / Q4 / Q3 / Q2 / Q1 /
(Euro Millions) 2012 2012 2011 2011 2011 2011 2011
Software 0,5 0,6 0,8 0,4 0,4 0,4 2,1
Security appliances 4,9 4,3 5,3 4,2 2,9 3,2 15,6
Services 3,6 3,4 3,4 3,3 3,2 3,0 12,8
Other products 0,1 0,0 0,1 0,1 0,0 -0,1 0,1
Net sales continuing operations 9,1 8,3 9,5 8,0 6,5 6,5 30,6
Change-% from previous year 40 27 27 43 29 6 26
Sales margin 7,4 6,8 7,6 6,7 5,6 5,4 25,4
Sales margin % 81 82 80 83 87 83 83
Operative expenses 8,0 7,6 7,6 6,7 6,7 6,4 27,3
Operating profit (EBITA) -0,4 -0,6 0,3 0,2 -0,7 -0,8 -1,1
% of net sales -5 -7 3 2 -12 -13 -4
Result before taxes -0,4 -0,5 0,3 0,2 -0,7 -0,6 -0,8
% of net sales -6 -6 4 3 -11 -10 -3
Stonesoft Group
Key ratios 1.1.-30.6.2012 1.1.-30.6.2011 1.1.-31.12.2011
(1000 Euros)
Net sales 17 350 13 015 30 604
Net sales
change-% 33 16 26
Operating result -1 001 -1 576 -1 137
% of net sales -6 -12 -4
Operating result
before taxes -853 -1 340 -779
% of net sales -5 -10 -3
ROE - %, annualized -57 -74 -22
ROI - %, annualized -47 -64 -16
Equity ratio-% 36 40 40
Net gearing -3,02 -2,89 -1,99
Total Assets 21 674 18 811 21 157
Capital expenditure 576 435 581
Capital disposals 0 0 0
R&D costs 3 785 3 006 6 131
% of net sales 22 23 20
Number of employees
(weighted average) 231 199 207
Number of employees
(end of the period) 234 203 222
Share Specific
Ratios
Earnings per share -0,02 -0,02 -0,01
Equity per share 0,05 0,05 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
(Profit before taxes - income
Return on equity (ROE) % = taxes) x 100 /
Shareholders' equity + minority
interest (average)
(Profit before extraordinary
Return on invested capital items+interest and other financial
(ROI)% = expenses) x100 /
Balance sheet total - non-interest
bearing debt (average)
(Equity + minority interest) x
Equity ratio % = 100 /
Balance sheet total - advances
received
Interest bearing net debt - cash
in hand and on deposit -
Net gearing = marketable securities /
Equity + minority interest
Profit before taxes - minority
Earning per share (EPS) = interest - income taxes /
Average number of shares adjusted
for dilutive effect of options
Equity per share = Equity /
Number of shares at end of period
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.
PRESS CONFERENCE
A press conference for analysts and investors will be held on 10 August, 2012 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 stock exchange release and the presentation material related to this report
are also available at the Stonesoft web site www.stonesoft.com.
Distribution:
NASDAQ OMX Helsinki Ltd
www.stonesoft.com
[HUG#1633203]
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