ELSA AG
ELSA AG english
ELSA reports preliminary third quarter results
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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ELSA reports preliminary third quarter results
Extensive cost-cutting program initiated
Aachen, November 6, 2001-ELSA AG one of the world’s leading vendors of solutions
for Internet access, Networking and computer graphics, today announced its
preliminary results for the third quarter of 2001.
Revenues decreased by 22 percent to EUR 57.1 million compared to 72.8 million
EUR in the third quarter of 2000. Net income for the third quarter amounted to –
4.9 million EUR compared to 3.8 million EUR in the third quarter of 2000.
The consequences of the terrorist attack in the USA additionally weakened the
already declining PC market. Furthermore, the taifun flooding in Taiwan in
September caused supply shortfalls at the end of the fiscal quarter.
Therefore in addition to the previously announced reorganization the management
board has decided to further simplify processes and structures of the entire
company by expanding the cost reduction program. The implementation of the
program was already started. Measures includes a further reduction of head count
by estimated 60 employees and a refocus of the US business exclusively on the
sales of professional work station graphics boards.
The full report for the period July to September 2001 will be released Thursday,
November 22, 2001.
end of ad-hoc-announcement (c)DGAP 06.11.2001
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Corporate Background
ELSA is one of the leading providers of Internet access, network and computer
graphics solutions for the PC. Its product range includes modems, ISDN adapters,
ISDN and DSL routers, graphics boards and monitors. ELSA was founded in 1980
and today has more than 550 employees. In addition to its headquarters in
Aachen, Germany, it also maintains subsidiaries in San Jose (USA), Taipei
(Taiwan) and Tokyo (Japan) as well as in London (UK), Paris (France), Milano
(Italy), Madrid (Spain), Stockholm (Sweden) and Eke (Belgium). Since June 1998,
ELSA AG shares are traded on the “Neuer Markt” trading segment of the Frankfurt
stock exchange in Germany.
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For more information about ELSA:
Sven Heyden
Investor Relations Manager
ELSA AG
Sonnenweg 11
D-52070 Aachen
Germany
Tel: +49 (0)241 606-1188
Fax: +49 (0)241 606-1149
E-mail: investor@elsa.de
Web: http://investor.elsa.com
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WKN: 507360; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
060741 Nov 01
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