AIXTRON SE

Annual / Quarterly Financial Statement • Dec 23, 2004

News Details

Ad-hoc | 23 December 2004 21:01

Aixtron AG: Announces Modified and Restated Consolidated Financial Statements

Ad hoc announcement §15 WpHG AIXTRON Announces Modified and Restated Consolidated Financial Statements Aixtron AG: Announces Modified and Restated Consolidated Financial Statements Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— AIXTRON Announces Modified and Restated Consolidated Financial Statements Aachen, Germany, December 23, 2004 – The consolidated financial statements of AIXTRON AG (the “Company”), for the fiscal years 2001, 2002, and 2003, have been prepared in accordance with US-GAAP. In connection with the proposed registration with the Securities and Exchange Commission (“SEC”) and NASDAQ quotation of the AIXTRON shares in form of American Depositary Receipts, AIXTRON AG has to comply with special accounting requirements reflected in Staff Accounting Bulletins and Interpretations of the SEC. The Executive Board of the Company has consequently modified and restated the consolidated financial statements of the Company for the fiscal years 2001, 2002, and 2003 to comply with such accounting requirements. Deloitte & Touche Wirtschaftsprüfungsgesellschaft GmbH, Hannover, has completed a supplementary audit (Nachtragspruefung) of such consolidated financial statements and has rendered its unqualified audit opinion for each of such consolidated financial statements for the years 2001, 2002, and 2003. According to the SEC accounting requirements, that portion of the revenues that is attributable to delivery and installation of equipment, has to be deferred in accordance with applicable revenue recognition rules until acceptance by the customer. Previously, revenues were booked in the full amount at the time of delivery of the equipment to the customer in accordance with U.S. GAAP. The effects of this change in accounting, on the significant financial figures included in the consolidated financial statements for the business years 2001, 2002, and 2003 as restated, are reflected in the following comparative chart. Fiscal year ending December 31; thousands of EUR, except per share data in EUR: 2003 2002 2001 Revenue as previously reported 91,284 150,747 240,051 Revenue as restated 90,402 152,112 237,765 Effect % 1.0% 0.9% 1.0% Operating Income (Loss) as previously reported (28,851) 21,084 54,164 Operating Income (Loss) as restated (26,606) 20,890 55,113 Effect % 7.8% 0.9% 1.8% Net Income (Loss) as previously reported (19,196) 15,265 33,621 Net Income (Loss) as restated (17,838) 15,143 34,221 Effect % 7.1% 0.8% 1.8% Basic and Diluted Income (Loss) (0.30) 0.24 0.52 per Share, as previously reported Basic and Diluted Income (0.28) 0.23 0.53 (Loss) per Share as restated Shareholders’ Equity as previously reported 131,037 155,685 154,550 Shareholders’ equity as restated 128,292 151,631 150,410 Effect % 2.1 % 2.6 % 2.7 % AIXTRON AG Kackertstr. 15-17 52072 Aachen Deutschland ISIN: DE0005066203 WKN: 506620 Listed: Frankfurt; Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart End of ad hoc announcement (c)DGAP 23.12.2004 232101 Dez 04