Panamax AG

Earnings Release • Aug 13, 2002

News Details

Ad-hoc | 13 August 2002 08:15

Pandatel AG english

PANDATEL with substantially higher earnings Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– PANDATEL with substantially higher earnings Niche strategy and regional focus successful Hamburg, August 13, 2002. Listed on the Neuer Markt segment of the Frankfurt stock exchange, PANDATEL AG (ISIN DE0006916307), a specialist in fiber-optic and copper-based network access and transmission technology, substantially boosted revenues and operating income on a quarter-on-quarter basis in the second quarter of this year. In the first half of 2002, revenues came to EUR 15.24 million (up 11.4% over the first six months of 2001), including EUR 8.19 in the second quarter alone. The operating loss of EUR 0.4 million in the first half of last year gave way to operating profit of EUR 1.47 million (an increase of EUR 1.87 million). Earnings before tax (EBT) rose by 48% to EUR 1.23 million (first half of 2001: EUR 0.83 million). Net income for the first half of 2002 came to EUR 0.68 million (EUR 0.33 million, up 105%). Having proven itself against the backdrop of difficult market conditions, PANDATEL’s strategy of concentrating on growth markets and segments will be systematically continued. The ample liquidity of EUR 3.41 per share (including short-term and long-term cash equivalents) and the diversified customer structure will safeguard the Company’s future profitability. Although forward visibility will be limited in the coming months, revenues and order receipts clearly indicate that demand for PANDATEL products remains stable. Order receipts in the first six months of 2002 were up slightly on year-ago levels (EUR 15.4 million vs. EUR 15.2 million). Contact: PANDATEL AG / Investor Relations / Dietlinde Bamberger / Fasanenweg 25 / 22145 Hamburg / Germany / Phone: +49-40-64414-244 / Fax: +49-40-64414-108 / e-mail: ir@pandatel.com end of ad-hoc-announcement (c)DGAP 13.08.2002 ——————————————————————————– WKN: 691630; ISIN: DE0006916307; Index: NEMAX 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 130815 Aug 02