Mips AB Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
October 16, 2022 at 04:00 pm EDT
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Mips AB (publ) reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was SEK 113 million compared to SEK 185 million a year ago. Net income was SEK 29 million compared to SEK 88 million a year ago. Basic earnings per share from continuing operations was SEK 1.1 compared to SEK 3.38 a year ago. Diluted earnings per share from continuing operations was SEK 1.1 compared to SEK 3.33 a year ago.
For the nine months, sales was SEK 456 million compared to SEK 410 million a year ago. Net income was SEK 156 million compared to SEK 176 million a year ago. Basic earnings per share from continuing operations was SEK 5.97 compared to SEK 6.7 a year ago. Diluted earnings per share from continuing operations was SEK 5.91 compared to SEK 6.64 a year ago.
Mips AB is a Sweden-based company, which specializes in helmet safety and brain protection. The Company offers its MIPS Brain Protection System (BPS) that implies solutions protecting against rotational motion transferred to the brain from angled impacts to the head. BPS is designed to add protection in helmets due to the low friction layer, which enables a relative movement between the head and the helmet, mimicking the brainâs own protection system. The technology implements into bicycle, snow, motorcycle and equestrian helmets. More than 40 helmet brands use BPS, including Bell, Fox Head, Giro, Scott, Smith and Trek, among others. The Company determines only one segment as operations solely comprise sales of the component kit included in consumer products.
MIPS AB 
