Basler AG

Earnings Release • May 7, 2002

News Details

Ad-hoc | 7 May 2002 20:33

Basler AG english

Basler AG reconfirms planned turnaround Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Ahrensburg, 05/07/2002 As expected, Basler Vision Technologies, leading supplier of artificial vision technology, achieved sales in Q1 2002 which were clearly below the level of the same quarter last year. With Euro 3.5 mill., sales were below the level of the fourth quarter with Euro 5.2 mill. and 50% down against the same quarter last year (Euro 7.0 mill.). This development of sales is the result of the still restrained economic situation as well as the weak order income from the optical disc market in the fourth quarter 2001. But the consistently positive development with regard to order bookings since the beginning of this year has signaled that the economic situation in the markets relevant for Basler is obviously improving. In addition, the measures taken to increase the sales efficiency in 2001 have been showing effects. With Euro 6.1 mill., the order bookings are 70% or Euro 2,5 mill. above the previous quarter and thus slightly below the level as in the same quarter last year (-21% with Euro 7,4 mill.). Due to the weak development of sales in Q1 2002, Basler posted again a net loss. With Euro -2.8 mill. the total losses were on the level of the previous quarter (Euro -3,0 mill.) and were just below the same level as in the same quarter last year (Euro -2.6 mill.) , but with significantly lower sales. The altogether better result is due to the cost cutting program executed last year as well as to a strict cost management. The operating expenses alone could be reduced by 23% on the same quarter last year from Euro 6,6 mill. to Euro 5.1 mill. As a result, Basler has continued the trend which started last year to clearly lower the break-even point from sales of approx. Euro 44 mio (in 2000) to approx. 37 mio in 2001 and finally approx. Euro 30 mio in the present fiscal year. The gross margin of 64% has remained stable at a high level. The figures in detail: Basler started the year 2002 as planned. A consistently strict cost management will continue to show their effects in the following quarters as well. Provided that sales are achieved as planned over the total year, it will be possible to achieve a balanced result. The presently posted higher order bookings indicate that the doldrums of Q4/2001 and Q1/2002 have been left behind. The managing board still holds to its plans to manage the turnaround. end of ad-hoc-announcement (c)DGAP 07.05.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Ahrensburg, 05/07/2002 As expected, Basler Vision Technologies, leading supplier of artificial vision technology, achieved sales in Q1 2002 which were clearly below the level of the same quarter last year. With Euro 3.5 mill., sales were below the level of the fourth quarter with Euro 5.2 mill. and 50% down against the same quarter last year (Euro 7.0 mill.). This development of sales is the result of the still restrained economic situation as well as the weak order income from the optical disc market in the fourth quarter 2001. The Vision Systems business division attained sales amounting to Euro 1.8 mill.. The Vision Components business division could achieve Euro 1.6 mill.. But the consistently positive development with regard to order bookings since the beginning of this year has signaled that the economic situation in the markets relevant for Basler is obviously improving. In addition, the measures taken to increase the sales efficiency in 2001 have been showing effects. With Euro 6.1 mill., the order bookings are 70% or Euro 2,5 mill. above the previous quarter and thus slightly below the level as in the same quarter last year (-21% with Euro 7,4 mill.). Due to the weak development of sales in Q1 2002, Basler posted again a net loss. The Vision Systems business division experienced losses with Euro -2.2 mill.. Vision Components posted losses of Euro -431.000. Euro -218.000 of the groups losses could not assigned to any of the business divisions. With Euro -2.8 mill. the total losses were on the level of the previous quarter (Euro -3,0 mill.) and were just below the same level as in the same quarter last year (Euro -2.6 mill.) – but with significantly lower sales. The altogether better result is due to the cost cutting program executed last year as well as to a strict cost management. The operating expenses alone could be reduced by 23% on the same quarter last year from Euro 6,6 mill. to Euro 5.1 mill. As a result, Basler has continued the trend which started last year to clearly lower the break-even point from sales of approx. Euro 44 mio (in 2000) to approx. 37 mio in 2001 and finally approx. Euro 30 mio in the present fiscal year. The gross margin of 64% has remained stable at a high level. The figures in detail: In Euro mill. Q1-2002 / Q1-2001 / +/- Sales 3.5 / 7.0 / -50% EBIT -2.9 / -2.8 / -4% Net result -2.8 / – 2.6 / -8% Result per share (in Euro) -0,80 / -0.73 / -8% Incoming orders 6.1 / 7.4/ -35% Staff 251 / 297 / -15% Basler started the year 2002 as planned. A consistently strict cost management will continue to show their effects in the following quarters as well. Provided that sales are achieved as planned over the total year, it will be possible to achieve a balanced result. The still weak sales in Q1 are as expected and the result of the restrained economic development in the previous quarter. The presently posted higher order bookings indicate that the doldrums of Q4/2001 and Q1/2002 have been left behind. The managing board still holds to its plans to manage the turnaround. Major growth drivers are expected to come this year from the Display Inspection product field in the Vision Systems business division as well as from the Vision Components business division. They will, therefore, attain a larger share of sales than in the past. Here the multi-market approach of the company can clearly be seen which -added to the sales increases reached – will make Basler more and more independent of the development in single target markets . You can download the complete quarterly report Q1/2002 from our website www.baslerweb.com. Further information: Christian Höck, Investor Relations, Phone 04102 – 463 175, christian.hoeck@baslerweb.com, Basler AG, An der Strusbek 60-62, D-22926 Ahrensburg ——————————————————————————– WKN: 510 200; ISIN: DE0005102008; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart 072033 Mai 02