Basler AG

Earnings Release • Nov 13, 2002

News Details

Ad-hoc | 13 November 2002 08:00

Basler AG english

Basler Posts Modest Profit in Q3/2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Basler Posts Modest Profit in Q3/2002 Renewed quarterly profit reported for the first time in eight quarters – Sales in third quarter up 29% with new receipts for orders 39% over prior year – milestone in striving for fiscal-year profitability in 2003 Ahrensburg, 13 November 2002 – Basler AG, leading company for vision technology, the technology of artificial vision, increased its sales and new-order volume in third quarter 2002. The company also posted its first profit in eight quarters, which is an important milestone in striving for sustained profitability in 2003. Here are the numbers for the quarter (compared to the year-earlier quarter): Sales totaled EUR 8.8 million (+29% from EUR 6.8 million), while new orders climbed to EUR 5.7 million (+39% over EUR 4.1 million). Net earnings were TEUR 147 or 4 euro cents per share (+101% over EUR -13.7 million, or a loss of EUR 3.90 per share). This results in the following figures for the first nine months of 2002 (compared to the prior-year period): Sales were EUR 20.3 million (-5% from EUR 21.4 million). The value of new orders improved to EUR 21.5 million (+13% from EUR 19 million). Because of the losses in the first two quarters (Q1: EUR -2,8 million, Q2: EUR -0,4 million), the net loss now totals EUR -3.0 million, or a loss of -86 euro cents per share (+83% from EUR -17.5 million). Now that the company has moved into the black on a quarterly basis, management’s goal for the year 2003 is to turn a profit for the fiscal year as a whole. Doing so will open the door to increasing profitability in the years that follow. The strict cost management that has proven itself so well over the past quarters will continue being enforced. Whereas the general resurging economy shows only a restrained tendency toward recovery, Vision Components, the division that deals with high-performance industrial cameras, senses a momentum toward increased growth. Management expects a seasonally induced weaker fourth quarter over the rest of the year. This would mean sales of EUR 25-27 million for the 2002 fiscal year as a whole and a net loss at approx. EUR -3 million on the year. The quarterly report is available for downloading at www.baslerweb.com. For more information please contact Christian Höck, Tel. ++49 (0) 4102-463175, christian.hoeck@baslerweb.com. end of ad-hoc-announcement (c)DGAP 13.11.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Basler Posts Modest Profit in Q3/2002 Ahrensburg, 13 November 2002 – The two corporate divisions – Vision Systems and Vision Components – made solid contributions to the growth in sales and earnings during third quarter. Segment reporting was only introduced this fiscal year, which is why no sales and earnings figures for the two divisions are available from last year. Vision Systems – The Vision Systems division scored sales of EUR 6.4 million (+16% over the prior quarter’s EUR 5.5 million). A good 50% of this segment’s revenues were generated in the Optical Media Inspection field (inspection systems for optical storage media). Deals involving inspection systems for flat screens (Display Inspection) and for sealing-ring testing systems (Sealing Inspection) accounted for 20% and 25% of these sales respectively. Altogether the Vision Systems division posted sales of EUR 13.8 million for the first nine months of the year. New orders for this division stabilized at a high level and were in line with typical seasonal fluctuations. In third quarter, Vision Systems received orders with a total value of EUR 3.8 million – a plus of 10% over the prior-year quarter (EUR 3.5 million). This was attributable mostly the demand for DVD inspection systems and a resurgence in business for sealing-ring inspection systems. Overall the division recorded orders valued at EUR 15.3 million in the first nine months of 2002 (+4% compared to Q1-Q3/2001 with EUR 14.8 million). The Vision Systems division had positive net earnings of TEUR 51 (Q1-Q3/2002: a loss of EUR -2.4 million). Vision Components – With its high-performance cameras, the Vision Components division finished third quarter 2002 with sales of EUR 2.3 million for a total of EUR 6.5 million for the first nine months of 2002. This means that as of this point in time, Vision Components has already reached 90% of the total sales revenues it generated for all of last year (2001: EUR 7.3 million). Incoming orders of EUR 1.9 million were +112% over those of the prior-year quarter (Q3/2001: EUR 0.9 million), so that new business valued at EUR 6.2 million was garnered for the first nine months of the year (+29% compared to EUR 4.8 million at the same time last year). Vision Components’ net earnings in Q3/2002 were TEUR 200, giving it a total net of TEUR 47 over the first nine months of 2002. Liquidity has been improved. Cashflow was TEUR 181 in the now-ended Q3/2002 period, bringing the total cash and cash equivalents to EUR 1.3 million. As of the same reporting date last year, cash and cash equivalents only amounted to TEUR 404. Since the start of the fiscal year, the outflow of funds has been at just about the same level as the group’s net loss (EUR -3.2 million). The capital ratio is 33% (equity as of 30 September 2002: EUR 6.2 million). With the publication of these third-quarter results, the Managing Board and Supervisory Board reaffirm the statement of commitment to the German Code of Corporate Governance that was issued on 30 June 2002. Both the quarterly report and the statement of commitment to the German Code of Corporate Governance are available for downloading at www.baslerweb.com. Contact Christian Höck, Tel. 04102-463175, christian.hoeck@baslerweb.com for more information. ——————————————————————————– WKN: 510 200; ISIN: DE0005102008; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart 130800 Nov 02