secunet Security Networks AG

Earnings Release • Nov 14, 2002

News Details

Corporate | 14 November 2002 07:35

Secunet AG english

Balanced EBIT in Q3 / 2002 Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Balanced EBIT in Q3 / 2002 secunet Security Networks AG achieved revenues of EUR 15.8 million in the first nine months of fiscal year 2002. This corresponds to a decline of 2 percent compared to the same period of last year (EUR 16.2 million). Adjusted for the foreign subsidiaries which we disposed of by the end of 2001, the comparison figure for the previous year is EUR 14.4 million, which translates to an adjusted positive sales growth of 10 percent. Looking at third-quarter figures alone reveals revenues of EUR 5.5 million. This is an increase of 22 percent compared to the same period in 2001 (EUR 4.5 million / adjusted: EUR 4.3 million). The operative result (EBIT – earnings before interest and taxes) for the first nine months of 2002 came in at minus EUR 0.4 million; the loss was therefore down 90 percent compared to the same period last year (minus EUR 4.3 million). In the third quarter of 2002, secunet attained a positive EBIT of EUR 0.1 million (third quarter 2001: minus EUR 1.4 million). Taking into account the financial result and taxes, there was a net loss of EUR 0.2 million in the first nine months of fiscal year 2002 (first nine months of 2001: minus EUR 2.4 million). This corresponds to earnings per share of minus EUR 0.02 (first nine months of 2001: minus EUR 0.38). The net income for the third quarter of 2002 amounted to EUR 0.1 million, compared to a net loss of EUR 0.8 million in the third quarter of 2001. This results in earnings per share of EUR 0.01 for the third quarter of 2002 (Q3/2001: earnings per share of minus EUR 0.12). By recording slightly positive earnings in the third quarter of 2002, secunet showed that its restructuring efforts continued to be successful. Personnel expenses de-clined by 19 percent in the first nine months of 2002 compared to the same period in 2001. Other operating expenses were reduced by 36 percent in the first nine months of 2002 as compared to the same period in 2001. secunet’s financial base is solid: As of 30 September 2002, cash and cash equiva-lents were EUR 7.9 million. Based on total assets of EUR 21.5 million, the equity ra-tio was 75 percent. The orders on hand as of 30 September 2002, amounted to EUR 8.7 million. In view of this development, management therefore reiterates its goal of achieving a balanced result overall in fiscal year 2002. Revenues are expected to be flat year-on-year. For further information please have a look at the 9-months report (www.secunet.com / investor relations / financial reports) or give us a call: Dr. Jörg Chittka, Head of In-vestor Relations, secunet Security Networks AG, Tel.: +49 (0)2054 123 127, Fax: +49 (0)2054 123 456, Email: investor.relations@secunet.com end of message, (c)DGAP 14.11.2002 ——————————————————————————– WKN: 727650; ISIN: DE0007276503; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 140735 Nov 02