DCI AG

Earnings Release • May 15, 2002

News Details

Ad-hoc | 15 May 2002 07:32

DCI Database english

DCI AG publishes financial figures for the first quarter 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– DCI AG publishes financial figures for the first quarter 2002 Results notably up on the same quarter last year Starnberg, Germany, 15 May 2002 – DCI AG today published its figures for the first quarter of 2002. Between January and March 2002, company revenue totalled 3,581 KEuro, an increase of 21.5 % in comparison with the corresponding quarter last year (2,948 KEuro). The operating income (EBIT) improved 63.2 % from minus 7,313 KEuro for the first quarter of 2001 to minus 2,693 KEuro. EBITDA losses were down 70,3 % from minus 5,545 KEuro in the first quarter of 2001 to minus 1,647 KEuro. DCI AG has also significantly reduced its cash-burn rate through systematic cost-cutting measures. The cash-burn rate posted for the fourth quarter of 2001 (EUR 5.3 million) was almost halved (47 %) during the first quarter of 2002 (EUR 2.8 million). This figure is also down 67 % on the same period last year (EUR 8.4 million). The consolidated income was thus posted at minus 2,971 KEuro (compared with minus 6,644 KEuro for the first quarter of 2001). Cash and cash equivalents amounted to 11,146 KEuro as per 31 March 2002. The systematic cost-cutting measures implemented by DCI are proving successful and have significantly improved the company’s general cost situation. For example, a significantly leaner marketing budget and focused payroll cuts have reduced selling and marketing expenses by 73,2 % from 4,361 KEuro (in the first quarter of 2001) to 1,167 KEuro. As part of its efforts to streamline costs, DCI also closed its Bottrop office and reduced office space, thus sharply reducing general and administrative expenses from 2,967 KEuro (in the first quarter of 2001) to 1,661 KEuro. DCI will actively continue its cost management strategy to align its expenditure levels with the challenging market environment. Capitalising on the slight economic upturn and continuing to focus on marketing solutions and services, DCI anticipates that it will reach break-even (EBITDA) on a monthly basis during the course of this year. end of ad-hoc-announcement (c)DGAP 15.05.2002 ——————————————————————————– WKN: 529 530; ISIN: DE0005295307; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 150732 Mai 02