Earnings Release • Oct 8, 2010
Earnings Release
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News Details
Ad-hoc | 8 October 2010 14:32
CeoTronics AG: Consolidated Interim Report for the First Quarter of Fiscal Year 2010/2011
CeoTronics AG / Key word(s): Quarter Results
08.10.2010 14:32
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
Revenues EUR3,018 thousand - highest first quarter revenues in a three-year
comparison/EBIT EUR-359 thousand/Consolidated loss EUR314 thousand
CeoTronics AG Audio Video Data Communication (ISIN: DE0005407407),
Adam-Opel-Strasse 6, 63322 Rödermark, Germany, listed in the Prime Standard
segment of the Regulated Market on the Frankfurt Stock Exchange and in the
'DAXplus Family Index', generated consolidated revenues of EUR3,018
thousand in the first quarter of fiscal year 2010/2011 (the summer months
of June, July, and August) in accordance with IFRSs (previous year:
EUR2,822 thousand). These are the highest first-quarter revenues in the
past three fiscal years.
Clearly positive revenue developments compared with the previous year were
recorded by CeoTronics AG (+26.1%), CT-Video GmbH (+33.1%), CeoTronics
Switzerland (+58.9%), and CeoTronics U.S.A. (+83.6%) - in each case after
consolidation and translation to euros.
The first quarter of 2010/2011 closed with EBIT of EUR-359 thousand
(previous year: EUR-362 thousand), a loss before tax of EUR398 thousand
(previous year: EUR396 thousand, and a consolidated loss of EUR314 thousand
(previous year: EUR309 thousand). Gross cash flow amounted to EUR-164
thousand (previous year: EUR-175 thousand).
The special effects (consultancy costs in relation with the segment change,
DPR process, etc., and exchange rate losses) in Q1 2010/2011 amounted to
well over EUR100 thousand. Without these special effects, the
administrative costs (these also include the consultancy costs) would have
not changed compared to last year and the consolidated result in Q1 would
have been much better.
Consolidated equity fell by EUR2,207 thousand year-on-year to EUR10,640
thousand (EUR12,847 thousand) due, among other things, to impairment losses
in connection with CeoTronics U.S.A. in the fourth quarter of fiscal year
2009/2010. Nevertheless, the equity ratio as of August 31, 2010 increased
to 70.1% (previous year: 69.8%)
The consolidated order backlog as of August 31, 2010 fell, as expected, by
52.4% compared with the prior-year figure. The prior-year comparative
figure was unusually high as several major orders were recorded in the
first quarter of 2009/2010. The largest single order in CT-Video GmbH's
history, worth approximately EUR1.5 million, deserves mention here.
In September 2010, the German Armed Forces also decided to order CeoTronics
products and services amounting to approximately EUR600 thousand. In
addition, CeoTronics was commissioned by the federal states of Berlin and
Thuringia to supply a total of 150 CT-Bluetooth Adapters.
The number of staff (including trainees) decreased from 157 (previous year)
to 154 as of August 31.
Information and Explaination of the Issuer to this News:
'The revenue development and results for the first quarter (summer months
of June, July, and August) in fiscal year 2010/2011 are in line with our
expectations. We currently expect CeoTronics to overcome the effects of the
global economic crisis by the beginning of the new calendar year. In fiscal
year 2010/2011, which ends on May 31, 2011, CeoTronics plans to generate a
significant year-on-year increase in consolidated revenues and positive
consolidated earnings. In keeping with tradition, CeoTronics expects to
issue more concrete revenue and earnings forecasts for the current fiscal
year in January 2011 at the time of publication of its interim results for
the first half of the year,' said Thomas H. Günther, Chairman of the Board
of Management.
Further information:
CeoTronics AG Audio Video Data Communication
Investor Relations, Adam-Opel-Strasse 6, 63322 Rödermark, Germany
Tel.: +49 6074/8751-722, Fax: +49 6074/8751-720
E-mail: [email protected], Internet: http://www.ceotronics.com
08.10.2010 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: CeoTronics AG
Adam-Opel-Straße 6
63322 Rödermark
Deutschland
Phone: +49 (0)6074 8751-724
Fax: +49 (0)6074 8751-720
E-mail: [email protected]
Internet: www.ceotronics.com
ISIN: DE0005407407
WKN: 540740
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Stuttgart
End of Announcement DGAP News-Service
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