INTERSHOP Communications AG — Earnings Release 2004

Apr 30, 2004

News Details

Ad-hoc | 30 April 2004 08:32

Intershop Communications first quarter 2004

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Intershop Communications Reports First Quarter 2004 Financial Results Intershop Increasing E-Procurement Focus Jena, Germany – April 30, 2004 – Intershop Communications AG today announced financial results for the first quarter of 2004, ended March 31, 2004. Revenue totaled Euro 4.4 million in the first quarter of 2004. License revenue totaled Euro 0.6 million in the first quarter of 2004. Total operational cost (cost of revenue plus operating expense) in the first quarter of 2004 were Euro 7.0 million. In the first quarter of 2004, Intershop recorded a net loss of Euro 2.5 million or a net loss of Euro 0.11 per share. Excluding other income, the first quarter 2004 net result would have been essentially unchanged compared to the fourth quarter 2003 net result. Total cash including cash, cash equivalents, marketable securities, and restricted cash increased from Euro 8.8 million as of December 31, 2003 to Euro 10.9 million as of March 31, 2004. Total cash includes freely available cash, which increased from Euro 2.6 million as of December 31, 2003 to Euro 4.7 million as of March 31, 2004. The increase in cash was due mainly to a rights issue announced on March 5, 2004 and the subsequent issuance of 1,916,113 new Intershop common bearer shares providing the Company with approximately Euro 3.8 million in additional cash during the first quarter of 2004. Against the backdrop of renewed signs of a recovery in corporate IT spending patterns in 2004, as well as a number of encouraging customer leads from the CeBIT trade fair, the Company expects to break even on an annual net income basis in 2004. However, the Management Board will continue to focus on improving operating efficiency to help offset the weaker-than-expected first quarter 2004 results. Intershop plans to expand its activities in the e-procurement market. end of ad-hoc-announcement (c)DGAP 30.04.2004 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: The full press release relating to this adhoc disclosure can be found on http://www.intershop.com. About Intershop Intershop Communications AG (Prime Standard: ISH1) is a leading provider of software solutions that help organizations evolve their trading relationships with consumers and business partners online. Founded in 1992, Intershop has a long tradition of driving innovation in e-commerce by automating and simplifying sales and buying processes. Intershop solutions enable organizations to consolidate and manage unlimited online commerce channels on a single platform. As a result, Intershop customers benefit from reduced operating expenses and competitive advantages in their online sales activities. More than 300 enterprise customers worldwide, including HP and BMW, run Intershop Solutions. Four of the five largest e-commerce sites in Germany rely on Intershop Solutions: Otto, Tchibo, Deutsche Telekom, and Quelle. Intershop is headquartered in Jena, Germany, and has branch offices in the United States, Europe and Asia. More information about Intershop can be found on the Web at http://www.intershop.com. Investor Relations: Klaus F. Gruendel T: +49-3641-50-1307 F: +49-3641-50-1002 k.gruendel@intershop.com Press: Dana Schmidt T: +49-3641-50-1000 F: +49-3641-50-1002 d.schmidt@intershop.com This news release contains 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, significant dependence on large single customer deals, 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 June 6, 2003. ——————————————————————————– WKN: 747292; ISIN: DE0007472920; Index: NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 300832 Apr 04