Elmos Semiconductor SE

Earnings Release • Nov 8, 2001

News Details

Ad-hoc | 8 November 2001 22:24

ELMOS Semiconductor AG english

ELMOS: No Improvements can be seen Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– ELMOS: No Improvements can be seen The unexpected weak third quarter clearly impacts on profit. Sales of EUR 25.7 million in the third quarter are about 15% below prior expectations. In the first six month of 2001 ELMOS was still able to report outstanding results with the gross margin exceeding 52% and a pre-tax-profit margin of 23%. The results of the third quarter with a gross margin of 38.6% and a pre-tax-profit margin of 6.7% of sales are frustrating. The weak third quarter also forces the company to reduce the estimates for the year 2001 again. The given sales target of EUR 107 million will be met but the pre-tax-profit will only amount to approximately EUR 16.5 million. The telecommunications customer just informed the company, that in the future other displays will be used and there is no longer a need for ELMOS’ grey scale LCD driver. Consequently, the sales target for the year 2002 is reduced to EUR 110 million and the pre-tax-profit target to approximately EUR 16.5 million. As a consequence of this unexpected development the expansion of the production capacity will not be continued in the year 2002 and at the same time a comprehensive cost reduction program will be initiated. This should lead to cost savings of about 5% of sales in the year 2002. The part time work program started in November 2001 is one of the first steps in this program. Contact: ELMOS Semiconductor AG; Heinrich-Hertz-Str. 1; D-44227 Dortmund; Germany Phone: +49 – 231-7549-0; Fax: +49 – 231-7549-548 ; invest@elmos.de; www.elmos.de end of ad-hoc-announcement (c)DGAP 08.11.2001 ——————————————————————————– WKN: 567710; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 082224 Nov 01