Comptel net sales up 18% in Q1

Comptel said its net sales for the first quarter of 2012 grew 18.4% to 19.9 million euros ($25.4 million).
The company also reported an operating result of -12.0 million euros ($15.3 million) which includes an impairment loss of 10.2 million ($13 million).
Comptel continues to expect full-year net sales to grow by at least 10% YOY, but – due to the impairment loss -- operating result is estimated to remain negative.
CEO Juhani Hintikka said the company’s operative profitability declined because it continued to invest for growth following its stated strategy.
After the reporting period, Comptel and Cisco have settled their dispute concerning the Axioss software which was under arbitration. In accordance with the settlement, the parties have agreed to withdraw all their claims against each other.