Panamax AG

Business and Financial Review • Nov 14, 2002

News Details

Ad-hoc | 14 November 2002 08:09

Pandatel AG english

PANDATEL revising forecasts and positioning itself for market rebound Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Hamburg, November 14, 2002. Listed on the Neuer Markt segment of the Frankfurt stock exchange, PANDATEL AG (ISIN DE 000 691 630 7), a specialist in fiber-optic and copper-based network access and transmission technology, posted revenues of EUR 22.68 million in the first three quarters of this year, an increase of 7.4% over the same period one year earlier. Earnings before tax surged by 19.6% to EUR 1.16 million. Net income for the period was up by no less than 58.7%, rising to EUR 0.48 million (year-ago period: EUR 0.30 million). On the basis of the current state of the Company’s order books, which were substantially higher at the same time one year earlier, however, it is necessary to adjust the full-year revenue forecast for 2002. Thus, full-year revenues of around EUR 28 million are now being projected for 2002 (2001: EUR 30.6 million). Although forward visibility will be limited over the next few months, market consolidation has already progressed far with a substantial reduction in the number of competitors. PANDATEL has ample liquidity of EUR 3.68 per share (cash and cash equivalents), which both enhances its profitability and is available for making use of opportunities for expansion. Accordingly, the Company sees itself very well poised to make the most of an upcoming market rebound. Further information: PANDATEL AG Investor and Public Relations Dietlinde Bamberger Fasanenweg 25 22145 Hamburg phone: +49 40 644 14 244 fax: +49 40 644 14 108 e-mail: ir@pandatel.com end of ad-hoc-announcement (c)DGAP 14.11.2002 ——————————————————————————– WKN: 691630; ISIN: DE0006916307; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 140809 Nov 02