MIPS AB Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
July 21, 2022 at 01:30 am EDT
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MIPS AB (publ) reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was SEK 206 million compared to SEK 142 million a year ago. Net income was SEK 80 million compared to SEK 55 million a year ago. Basic earnings per share from continuing operations was SEK 3.04 compared to SEK 2.1 a year ago. Diluted earnings per share from continuing operations was SEK 3.01 compared to SEK 2.08 a year ago.
For the six months, sales was SEK 343 million compared to SEK 225 million a year ago. Net income was SEK 127 million compared to SEK 87 million a year ago. Basic earnings per share from continuing operations was SEK 4.87 compared to SEK 3.33 a year ago. Diluted earnings per share from continuing operations was SEK 4.81 compared to SEK 3.3 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 
