INTERSHOP Communications AG — Earnings Release 2002

Feb 14, 2003

News Details

Ad-hoc | 14 February 2003 08:37

INTERSHOP Communications english

Intershop Communications Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Intershop Communications Reports Fourth Quarter And Full Year 2002 Financial Results Intershop Reaches EBITDA Breakeven For Fourth Quarter 2002; Cash Positive In Fourth Quarter Jena, Germany : February 14, 2003 – Intershop Communications AG met its stated fourth quarter 2002 guidance for revenue as well as for earnings before interest, taxes, depreciation, and amortization (EBITDA). With a 34% sequential increase in fourth quarter 2002 revenue and a positive fourth quarter 2002 EBITDA result, the company was cash positive at the end of the fourth quarter of 2002. Fourth quarter 2002 revenue rose by 34% sequentially, to Euro 12.0 million, compared with revenue of Euro 8.9 million in the third quarter of 2002. Fourth quarter 2002 license revenue rose by 85% sequentially to Euro 6.5 million. For the full year 2002, Intershop recorded total revenue of Euro 45.1 million compared with revenue of Euro 68.7 million in fiscal year 2001, reflecting a challenging IT spending environment throughout the year. Full year 2002 license revenue rose to Euro 22.5 million, an increase of 10% compared to full year 2001. Intershop reported a positive fourth quarter 2002 EBITDA result of Euro 0.1 million, slightly exceeding management guidance given on October 30, 2002. This compares to a fourth quarter 2001 EBITDA loss of 10.7 million. The company reported a fourth quarter 2002 net loss of Euro 1.0 million or a net loss of Euro 0.05 per share. This compares to a net loss of Euro 24.7 million (Euro 0.28 per share) in the fourth quarter of 2001. The company generated Euro 2.1 million in cash during the fourth quarter of 2002, representing a 10% sequential increase. Intershop ended fiscal year 2002 with cash, cash equivalents, marketable securities, and restricted cash totaling Euro 22.5 million as of December 31, 2002. Against the backdrop of continuing weakness in global IT spending and first quarter seasonality, Intershop anticipates total revenue in the first quarter of 2003 will be lower than total revenue in the fourth quarter of 2002 and total revenue for the full year of 2003 will be approximately flat year over year. Intershop forecasts EBITDA break-even for fiscal year 2003, with quarterly fluctuations around break-even anticipated. end of ad-hoc-announcement (c)DGAP 14.02.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: The full press release relating to this ad hoc disclosure can be found at http://www.intershop.com . Investor Relations and Press: Klaus F. Gruendel T: +49-40-3641-50-1000 F: +49-40-3641-50-1009 k.gruendel@intershop.com About Intershop Communications Intershop Communications (Nasdaq: ISHP; Prime Standard: ISH1) is the market leader in Unified Commerce Management (UCM), which creates strategic differentiation for companies by integrating e-commerce processes across the extended enterprise. Intershop Enfinity, based on the best practices of Unified Commerce Management, enables companies to manage multiple business units from a single commerce platform, optimize their business relationships, improve business efficiencies and cut costs to increase profit margins. By streamlining business processes, companies can achieve a higher return on investment at a lower total cost of ownership, increasing the lifetime value of customers and partners. Intershop has more than 300 enterprise customers worldwide in a broad range of industries, including multichannel retail and high technology. Customers including Hewlett-Packard, Bosch, BMW, TRW, Bertelsmann, Otto and Homebase have selected Intershop’s Enfinity as the cornerstone of their global e-commerce strategies. More information about Intershop can be found on the Web at http://www.intershop.com . This ad hoc release may contain forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop’s limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, consumer trends, the level of competition, seasonality, risks related to electronic security, possible governmental regulation, and general economic conditions. Additional information regarding factors that potentially could affect Intershop’s business, financial condition and operating results is included in Intershop’s filings with the Securities and Exchange Commission, including the company’s Form 20-F dated May 9, 2002. ——————————————————————————– WKN: 747292; ISIN: DE0007472920; Index: NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 140837 Feb 03