Electronics Line 3000 Ltd.
Electronics Line 3000 Ltd.: Adjustment of Annual Sales Forecast due to Low Order Volume by Major Customer
Electronics Line 3000 Ltd. / Key word(s): Profit Warning/Incoming Orders 09.10.2012 14:42 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Adjustment of Annual Sales Forecast due to Low Order Volume by Major Customer - Previous Annual sales forecast of US$ 20 million likely to be missed by approximately 28% (non-reviewed, non-audited) - Outlook for 2012 earnings development to be updated with release of Q3 report Rishon LeZion, Israel (October 9, 2012) - Electronics Line 3000 Ltd. ('the Company' or 'Electronics Line') (XETRA: ELN), a global provider of wireless security with remote management solutions, announces that it will miss its forecast for the fiscal year 2012. The previous annual sales forecast of US$ 20 million is no longer to be reached and - on the basis of non-reviewed and non-audited figures - will be missed by approximately 28%. The previous earnings forecast for the second half of 2012 with results approximately at the H1 2012 level (without other income from H1), is no longer to be reached as well. The decline in Q3 2012 sales volume is attributed mainly to lower than expected order volumes by one of the Company's major customers and adverse general economic conditions. The Company's sales teams continue to successfully implement its strategy of gaining new strategic customers whose orders volumes for Q3-Q4/2012 partially set off the impact of decline in orders by major customers. Therefore, from today's perspective and taking into account possible increasing overall economic uncertainty, the Company anticipates a noticeable lower level in sales during Q4 compared to the previous forecast and a lower earnings performance than previously expected. Detailed information about the business development during the third quarter and the first nine months in 2012 and an outlook for the earnings development for the full year will be published in November 2012 with the submission of the full nine months report. --------------------------------------------------------------------------- Information and Explaination of the Issuer to this News: About Electronics Line (EL): EL is a pioneer in next-generation security solutions for the residential and small commercial markets. The Company designs and produces cutting-edge solutions for security and control of living and working environments. The EL line provides comprehensive security protection, as well as sophisticated system and home management functionality, for optimal comfort, safety and peace of mind. This new industry standard is further upgraded with enhanced remote management capabilities that give homeowners instant access to their system from anywhere in the world. Upgrading Everyday Security EL solutions enable new levels of control and maintenance in protected sites through the ELAS, a proprietary remote management server. The Company enjoys a unique market position in supplying ELAS-governed systems for the home and workplace, which provide the multiple benefits of a virtual security presence, convenient home automation, and energy efficiency, all customized by the end-user and/or the service provider. EL's wireless solutions offer enhanced detection and PSTN/IP/GSM/GPRS-based event reporting, along with advanced remote management tools. The back-office support and customized branding of EL solutions provide superior security with significant business benefits and market expansion potential. Global Partnerships Nearly three decades of cutting-edge leadership have earned EL a solid market position, allowing users worldwide to benefit from EL's ongoing development of upgraded security solutions. The Company maintains long-term partnerships worldwide. EL has made emerging technology, user-friendly design and exceptional quality the benchmarks for serving its international network of clients and partners. Drawing on a tradition of pioneering expertise, EL specialists also provide security integration consultancy, installation service, training and technological support. EL was established in 1982 and is headquartered in Israel. The Company is publicly traded on the Frankfurt Stock Exchange (ELN) and is part of the RISCO Group, an established leader in the international security market. Disclaimer: 'This release contains forward-looking statements, which express the current beliefs and expectations of management. Such statements involve a number of known and unknown risks and uncertainties that could cause the Company's future results, performance or achievements to differ significantly from those expressed or implied by such forward-looking statements. A number of these risks and other factors that might cause differences, some of which could be material, along with additional discussion of forward-looking statements, are set forth in the Company's Annual Report and its other filings filed with the Israeli Securities Authority. Forward-looking statements speak only as of the date on which they are made and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.' Contact: For more information please contact: Investor Relations Sari Ellenberg investor.relations@electronics-line.com 09.10.2012 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Electronics Line 3000 Ltd. 14 Hachoma St. 75655 Rishon LeZion Israel Phone: 00972 3 9181333 Fax: 00972 3 9616 584 E-mail: investor.relations@electronics-line.com Internet: www.electronics-line.com ISIN: IL0010905052 WKN: A0B5R7 Indices: DAXsector All Technology, DAXsector Technology, DAXsubsector All Communications Technology, DAXsubsector Communications Technology , Prime All Share, Technology All Share Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, München End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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