Panamax AG

Earnings Release • Feb 15, 2002

News Details

Ad-hoc | 15 February 2002 08:14

Pandatel AG english

PANDATEL AG with net income of EUR 2.3 million in 2001 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– PANDATEL AG with net income of EUR 2.3 million in 2001 Revenues expected to come to EUR 35 million in 2002 Hamburg, February 15, 2002. Listed in the Neuer Markt segment of the Frankfurt stock exchange, PANDATEL AG (ISIN DE 000691 630 7), a specialist in fiber-optic and copper-based network access and transmission technology, closed fiscal 2001 with net income of EUR 2.3 million, equivalent to EUR 0.32 per share. Thus, PANDATEL posted a substantial profit in excess of the projections issued at the end of the third quarter. One key reason for the Company’s favorable earnings is related to its early forays into South Eastern Asia and its successful strategic expansion into Central Asia. In order to further build on these successes in a global market still in the throes of consolidation, PANDATEL set up a representative office in Shanghai on January 1, 2002. In fiscal 2002, PANDATEL expects to achieve revenues of EUR 35 million, up from EUR 30.6 million in 2001, equivalent to an increase of almost 15 percent. The Company plans to post a substantial profit again although it is still too early to provide any reliable earnings guidance. Encouraging trends in order receipts over the past few months justify this upbeat full-year outlook. The additional sales stimulus expected to be generated by the recently forged alliance with Tellabs is included in the Company’s projections. In spite of the aforementioned favorable trends, conservative assumptions have been applied to the new office which has been opened in Shanghai as a bridgehead for China, Asia’s largest and most important market. PANDATEL AG will be publishing its full financial statements at its annual press conference on March 15, 2002. For more information, please contact: PANDATEL AG, Fasanenweg 25, 22145 Hamburg, Germany // Henrik Förderer, CEO, tel. +49 40 644 14-0 // Dietlinde Bamberger, Investor Relations, tel. +49 40 644 14-244, fax +49 40 644 5792, ir@pandatel.com // www.pandatel.com end of ad-hoc-announcement (c)DGAP 15.02.2002 ——————————————————————————– WKN: 691630; ISIN: DE0006916307; Index: NEMAX 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 150814 Feb 02