LS telcom AG

Earnings Release • Aug 13, 2002

News Details

Ad-hoc | 13 August 2002 16:24

LS telcom AG english

Q3 report (nine month report) for the period Oct. 1st, 2001 – June 30th, 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Q3 report (nine month report) for the period Oct. 1st, 2001 – June 30th, 2002 Decrease of revenue at LS telcom Lichtenau, August 13th, 2002. The reluctance in the telecom’s market with respect to new invest expenditure also affected LS telcom during the third quarter of this financial year. Sales revenues of EUR 6,258 thousand were achieved, corresponding to a 31% decrease compared to EUR 9,051 thousand of the same period the prior year. Owing to the lost and shifted sales revenues and a decrease of work in progress on the one hand, and an increase in amortisation and depreciation as well as in personnel expenses, on the other hand, EBIT has fallen compared to the year- before period from EUR 318 thousand to EUR -2,717 thousand. This, despite effective cost management resulted in significant savings in the other oper- ating expenses and in cost of materials. Net result for the nine months period is EUR -1,517 thousand, compared to EUR 321 thousand for the same period the year before. The loss per share thus comes to EUR -0.28. A one-time value adjustment of EUR 300 thousand set up as a provision for possible impairment is included herein. As on June 30th, 2002, LS telcom held cash and cash balances of EUR 11,563 thousand or EUR 2.17 per share. The expectations at the beginning of this financial year for increasing investments in telecom’s networks, especially in mobile and fixed communication systems, have not realised so far. A similar situation and development below expectations has been experienced in the segment Software for Regulatory Authorities, where after having won several tenders, contract negotiations and closing is delayed out of control of LS telcom. In order to turn around into profitability, additional market entry possibilities available through the recently acquired Canadian subsidiary Spectrocan Solutions Ltd. will be pursued. Besides LS telcom will evaluate all additional potentials for cost savings and implement appropriate measures in a consequent manner. end of ad-hoc-announcement (c)DGAP 13.08.2002 ——————————————————————————– WKN: 575440; ISIN: DE0005754402; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 131624 Aug 02