NorCom Information Technolgoy GmbH & Co. KGaA

Earnings Release • May 23, 2001

News Details

Ad-hoc | 23 May 2001 07:32

Ad hoc-Service: NorCom Info. Tech. AG english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– NorCom presents figures for first quarter 2001 Munich, May 23, 2001 — In the first quarter the Munich company NorCom Information Technology AG achieved total sales of EUR 8.4 million including own work capitalized of EUR 0.6 million. Compared with the previous year this corresponds to growth of 76% and 24% on a pro-forma basis. Consulting and project sales increased by more than 70% from EUR 4.1 million pro forma to EUR 7.1 million in the first quarter of 2001 compared to the previous year’s quarter. Initial positive effects of the new distribution structure were already evident in the first quarter. Some 12% of sales revenue were achieved with more than 10 new customers. Changes in technology resulted in companies reducing investments in products, the consequence of which was sales revenues in this area were EUR 0.7 million as per March 31, 2001. The group reorganization with one-off costs of around EUR 0.8 million and growth related fluctuation impacted the result negatively. In addition, the restructuring of the distribution processes and changed market conditions for client-server technologies influenced product sales and thus NorCom Group’s performance in the first quarter. LBITDA was EUR 1.4 million. LBIT as per March 31, 2001 was EUR 2.1 million. The net loss for the period was at EUR 1.4 million. Undiluted losses per share according to IAS were therefore EUR 0.14 in the first quarter 2001 (earnings per share for first quarter 2000: EUR 0.01). Liquid funds at the end of the period, including funds invested in money market funds was at approximately EUR 22 million. Thus the company has a very solid financial basis for future growth. end of ad hoc announcement (c) DGAP 23.05.2001 Issuer’s information/explanatory remarks concerning this ad hoc announcement: Group restructuring creates base for healthy growth The NorCom Group has created the base for healthy and dynamic growth within the first quarter. Group restructuring has significantly strengthened NorCom’s impact. The new structure enables NorCom to react more quickly to market-side changes, to follow-up customer requirements better and to push the integration process of new participations. In addition the company set a new standard with the product innovation NGS BeanGuard. With this product, based on the new industry standard Java 2 Enterprise Edition (J2EE), electronic business processes can now, for the first time, be differentiated in a sophisticated manner and also be secured reliably. This closes a significant security gap in the e-business environment. NGS BeanGuard controls Extranet Access Management (EAM) and is thus a central component of modern e-business structures. According to a study by the Gartner Group, expenditure for EAM technologies will increase from USD 60 million in 2001 to USD 1 billion in 2004. Extension of customer base Diversification into new industries and the extension of the customer base was successfully driven ahead in the first quarter of 2001. For the first time access was gained in promising sectors such as publishing, retail and technology. In the first quarter alone more than 10 new customers with high order potential were acquired. The order book increased to EUR 15 million. Several strategic entry-level projects and various large projects which are just before the closing stage, make us confident of retaining our growth forecasts for 2001. Approx. 2,700 characters For further information please contact: NorCom Information Technology AG Bettina Kraus – Elisabeth Hagmann Stefan-George-Ring 6 D-81929 Munich Fon +49 89 939 48 140 / 150 Fax +49 89 939 48 123 press@norcom.de http://www.norcom-ag.com ——————————————————————————– WKN: 525030; Index: Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Hannover und Stuttgart 230732 Mai 01