STOCKHOLM, April 16, 2024 /PRNewswire/ -- First quarter highlights – Driving gross margin improvements and cost efficiencies Sales declined organically[1] by -14% YoY, due to a -19% decline in Networks. Reported sales decreased to SEK 53.3 (62.6) b. Gross income excluding restructuring charges decreased to SEK 22.8 (24.9) b. as lower sales were partly offset by an improvement in gross margin. Reported gross income was SEK 22.7 (24.2) b. Gross margin excluding restructuring charges improved to 42.7% (39.8%) supported by a competitive product portfolio, cost actions, improved commercial discipline, as well as increased IPR licensing revenues. Reported gross margin was 42.5% (38.6%). EBITA excluding restructuring charges amounted to SEK 5.1 (4.8) b. with a margin of 9.6% (7.7%), which included a one-time gain of SEK 1.9 b. Reported EBITA was SEK 4.9 (3.8) b. Net income was SEK 2.6 (1.6) b. EPS diluted was SEK 0.77 (0.45). Free cash flow before M&A was SEK 3.7 (-8.0) b. reflecting improved management of working capital. Net cash on March 31, 2024, was SEK 10.8 b. compared with SEK 7.8 b. on December 31, 2023. SEK b. Q12024 Q12023 YoYchange Q42023 QoQchange Net sales 53.325 62.553 -15 % 71.881 -26 %  Sales growth adj. for comparable units and currency[2]  - - -14 % - - Gross margin[2] 42.5 % 38.6 % - 39.8 % - EBIT  4.100 3.046 35 % 5.848 -30 % EBIT margin[2] 7.7 % 4.9 % - 8.1 % - EBITA[2]  4.893 3.848 27 % 6.694 -27 % EBITA margin[2] 9.2 % 6.2 % - 9.3 % - Net income  2.613 1.575 66 % 3.409 -23 % EPS diluted, SEK