AIXTRON SE

Earnings Release • Nov 4, 2004

News Details

Ad-hoc | 4 November 2004 05:18

AIXTRON Announces Third Quarter 2004 Financial Results

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Aachen, Germany – November 4, 2004 – AIXTRON AG today announced financial results for the third quarter of 2004, ended September 30, 2004. The total value of equipment orders received rose by 15 percent year over year, from Euro 22.6 million in the third quarter of 2003, to Euro 25.9 million in the third quarter of 2004. This compares to an equipment order intake of Euro 36.9 million in the second quarter of 2004. The equipment order backlog as of September 30, 2004 was Euro 85.6 million (including 11.5 in deferred revenue), as compared to Euro 58.4 million as of September 30, 2003, a year-over-year increase of 47 percent. Total revenues rose by 41 percent year over year, from Euro 21.5 million in the third quarter of 2003 to Euro 30.4 million in the third quarter of 2004. In comparison, revenues in the second quarter of 2004 totaled Euro 34.2 million. Gross margin on sales improved from 32 percent in the third quarter of 2003 to 41 percent in the third quarter of 2004. This compares to 35 percent in the second quarter of 2004. Net income totalled Euro 3.2 million in the third quarter of 2004, representing a net income per share of Euro 0.05. This compares to a net loss of Euro 1.5 million in the third quarter of 2003, representing a net loss per share of Euro 0.02, and compares to a net income of Euro 0.5 million in the second quarter of 2004, representing a net income per share of Euro 0.01. As of September 30, 2004, cash and cash equivalents amounted to Euro 47.5 million, as compared to Euro 45.3 million as of December 31, 2003. As of September 30, 2004, the Company recorded no bank liabilities. The equity ratio as of September 30, 2004 was 66 percent, compared to 80 percent as of December 31, 2003. The results for the nine-month period ended September 30, 2004 have been prepared based upon Staff Accounting Bulletins and Interpretations of the Securities and Exchange Commission (SEC) in connection with the pending registration of AIXTRON ordinary shares under the Securities Act of 1933, as amended. Such SEC bulletins and interpretations have not been applied to the third quarter of 2003 and the nine-month results reported for the period ended September 30, 2003. AIXTRON believes that any differences that could have resulted from the application of such SEC interpretations to fiscal year 2003 would not have been material to the results in that fiscal year 2003. On the basis of robust sales and order intake in the first nine months of 2004 and anticipated market demand for the remainder of the year 2004, the Company forecasts total revenues for 2004 will be in the range of EUR 125 million to EUR 130 million, with net income in the range of EUR 3 million to EUR 4 million (excluding the impact of merger-related expenses). end of ad-hoc-announcement (c)DGAP 04.11.2004 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Contact: Investor Relations and Corporate Communications: T: +49-241-8909-444 F: +49-241-8909-445 invest@aixtron.com Forward-Looking Statements This news release may contain forward-looking statements about the business, financial condition, results of operations and earnings outlook of AIXTRON. Words such as “may,” “will,” “expect,” “anticipate,” “contemplate,” “intend,” “plans,” “believe,” “continue” and “estimate,” and variations of these words and similar expressions, identify these forward-looking statements. These statements are not guarantees of future performance, involve certain risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. Therefore, actual outcomes and results may differ materially from what is expressed herein. In any forward-looking statement in which AIXTRON expresses an expectation or belief as to future results, such expectation or belief is expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the statement or expectation or belief will result or be achieved or accomplished. Actual operating results may differ materially from such forward- looking statements and are subject to certain risks, including risks arising from: actual customer orders received by AIXTRON; the extent to which metal- organic chemical vapor deposition, or MOCVD, technology is demanded by the market place; the timing of final acceptance of products by customers; the financial climate and accessibility of financing; general conditions in the thin film equipment market and in the macro-economy; cancellations, rescheduling or delays in product shipments; manufacturing capacity constraints; lengthy sales and qualification cycles; difficulties in the production process; changes in semiconductor industry growth; increased competition; exchange rate fluctuations; availability of government funding; variability and availability of interest rates; delays in developing and commercializing new products; general economic conditions being less favorable than expected; and other factors. The forward-looking statements contained in this news release are made as of the date hereof and AIXTRON does not assume any obligation to (and expressly disclaims any such obligation to) update the reasons why actual results could differ materially from those projected in the forward-looking statements. Any reference to the Internet website of AIXTRON is not an incorporation by reference of such information in this news release, and you should not interpret such a reference as an incorporation by reference of such information. ——————————————————————————– WKN: 506620; ISIN: DE0005066203; Index: TecDAX, NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 040518 Nov 04