Axis AB (publ) reported consolidated and parent earnings results for the first quarter ended March 31, 2017. For the quarter, on consolidated basis, the company reported net sales of SEK 2,026.7 million against SEK 1,567.0 million for the same period a year ago. Operating profit was SEK 234.3 million against SEK 153.1 million for the same period a year ago. Profit before tax was SEK 233.8 million against SEK 153.2 million for the same period a year ago. Net profit for the period was SEK 177.2 million against SEK 114.1 million for the same period a year ago. Earnings per share was SEK 2.55 against SEK 1.64 a year ago. Cash flow from operating activities was SEK 322.7 million against cash flow used in operating activities of SEK 79.0 million for the same period a year ago. Return on equity was 30.8% against 38.5% for the same period a year ago. A contributory factor to the sales increase was that many of its distributors sold off large parts of their inventories due to strong demand in late 2016, and thus needed to replenish their inventories in early 2017. For the quarter, on parent basis, the company reported net sales of SEK 30.7 million against SEK 25.6 million for the same period a year ago. Operating profit was SEK 13.9 million against SEK 14.9 million for the same period a year ago. Net profit for the period was SEK 11.9 million against SEK 16.5 million for the same period a year ago.