Mips AB Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 08, 2024 at 01:30 am EST
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Mips AB (publ) reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was SEK 91 million compared to SEK 107 million a year ago. Net income was SEK 16 million compared to SEK 19 million a year ago. Basic earnings per share from continuing operations was SEK 0.6 compared to SEK 0.71 a year ago. Diluted earnings per share from continuing operations was SEK 0.6 compared to SEK 0.71 a year ago.
For the full year, sales was SEK 357 million compared to SEK 563 million a year ago. Net income was SEK 64 million compared to SEK 175 million a year ago. Basic earnings per share from continuing operations was SEK 2.43 compared to SEK 6.68 a year ago. Diluted earnings per share from continuing operations was SEK 2.42 compared to SEK 6.63 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 
