BIODATA Information Technology AG
Biodata Inform. Tech. english
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Biodata Revenue and Earnings in 2001 Significantly Lower Than Expected
Biodata to be restructured, CEO resigns from Board of Directors.
Lichtenfels, 5th Oktober, 2001. Biodata Information Technology today reported
its numbers for revenues and earnings in Q3 2001 will stay significantly lower
than originally forecast. Biodata will readjust the company’s objectives by
reducing costs and restructuring the group. Chief Executive Officer Tan Siekmann
resigned.
The losses in turnover are mainly caused by the downturn of the worldwide
economic situation. According to preliminary figures Biodata will reach a
turnover between three and 3.5 million Euro. Consequently, the company ranges
below last year’s Q3 sales which amounted to about 6.8 million Euro, and will
noticeably fail in reaching both sales and earnings targets for the full year
2001. Presumably more than ten million Euro depreciation on receivables and
inventory will also negatively affect the result of 2001.
In this context, Biodata revises its announcement dated August 24th, 2000, about
a large order in Australia with orders for 6,000 BIGfire+ firewalls worth
revenue of 20 million Euro per year. The order was signed with a service partner
under the terms that a purchase would be placed until September 5th of 2000.
These requirements were not explicitly mentioned before and de facto have not
been achieved. Therewith, the contract never became reality.
The IT security company has changed its operational direction by implementing a
substantial program to reduce costs and restructure the enterprise. Chief
Executive Officer Tan Siekmann assumes full responsibility for not achieving the
company’s targets and has resigned with immediate effect.
end of ad-hoc-announcement (c)DGAP 05.10.2001
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Siekmann stated he would remain Biodata’s principal shareholder. At present, a
reliable forecast in revenues and results is difficult to make. At the moment,
Biodata expects a turnover comparable to last year’s level (2000: 23.47 million
Euro). At the same time, the group will noticeably reduce its operational costs.
By restructuring the company, Biodata will adjust to the massive downturn of the
global economy and the group intends to reach profitability again as soon as
possible. The IT security market is expected to continue growth in the future.
Following the recent terrorist attacks in America there is an increasing demand
for products and technologies ranging from encryption and network security to
digital image recognition and biometrics, which are Biodata’s core business
segments.
After passing all necessary reform steps and when knowing the final figures for
Q3, Biodata will minutely communicate its further business prospects.
For more information, please contact: Heiko Scholz (Public Relations), Biodata
Information Technology AG, Burg Lichtenfels, 35104 Lichtenfels, Tel. 06454 9120
118, Fax 06454 9120 180, E-Mail: heiko.scholz@biodata.com
Jörg Kleine (Investor Relations), Biodata Information Technology AG, Burg
Lichtenfels, 35104 Lichtenfels, Tel. 06454 9120 132, Fax 06454 9120 180, E-Mail:
joerg.kleine@biodata.com
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WKN: 542270; Index: NEMAX 50
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
050825 Okt 01
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