Basler AG

Earnings Release • Feb 28, 2002

News Details

Ad-hoc | 28 February 2002 07:55

Basler AG english

Basler AG: Results for 2001 Meet Expectations – Turnaround in 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Basler AG: Results for 2001 Meet Expectations – Turnaround in 2002 Ahrensburg, 28 February 2002 The 2001 annual results for Basler Vision Technologies, leading provider of vision technology, the technology on which artificial vision systems are based, are fully in line with expectations. Sales revenues were Euro 26.6 million, a decline of 34% compared to 2000 (Euro 40.3 million). For the most part, this development is attributable to the weak investment climate in the market for equipment used to manufacture optical storage media. For Basler, this influence led to a decline in sales of about 50% in its CD/DVD inspection system business.The overall weak economy, particularly in the United States, also contributed to a downturn in sales. Operating losses totaled Euro -9.1 million (not including special effects) for the year as a whole. These results were burdened by two additional factors: Sales that turned out to be less than expected necessitated extensive markdowns on inventories totaling Euro -3.9 million. And, the declining market capitalization of semiconductor-industry companies in 2001 required that the equity holding in the Photobit Corporation be restated in the third quarter. This new valuation was later reaffirmed by an offer from Micron Technologies Inc. to take over all the assets of Photobit Corp. Altogether there was a net loss of Euro -20.6 million (compared to a Euro -1.6 million net loss in 2000). The cashflow totaled Euro +4.6 million as of 31 December 2001. end of ad-hoc-announcement (c)DGAP 28.02.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: The Figures at a Glance In million Euro: 2000 / 2001 Sales revenues: 40.3 / 26.6 EBIT: -4.0 / -13.1 Net earnings: -1.6 / -20.6 Net earnings per share (in Euro): -0.47 / -5.88 Balance sheet total: 38.4 / 21.9 Capital ratio (in %): 74 / 41 Employees as of 31 December: 303 / 259 The managing board is holding to its plan to make the turnaround in 2002 and close out the fiscal year with balanced results. In view of this, the founding shareholders and management are of the opinion that the company is currently undervalued and have therefore announced their intention of purchasing stocks themselves. The analyst and balance sheet press conference is scheduled for 19 March 2002. Additional Information: Christian Höck, Investor Relations, Tel. 04102 463 175, christian.hoeck@baslerweb.com, Basler AG, An der Strusbek 60-62, 22926 Ahrensburg ——————————————————————————– WKN: 510 200; ISIN: DE0005102008; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München und Stuttgart 280755 Feb 02