november AG
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Strong revenue growth in third quarter
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Erlangen, 2003-11-13. Within the 3rd quarter 2003, november AG has increased its
revenue by 30% in comparison to the 2nd quarter. Compared to last year’s
period, group revenues improved by 16% to TEUR 2,930 (TEUR 2,523). This
significant increase was for the most part generated by our subsidiary PEQLAB
Biotechnologie GmbH. On an annual basis, november AG expects a two digit revenue
growth.
Despite the revenue growth, selling and marketing expenses totaling TEUR 1,532
remained basically unchanged on an annual basis (TEUR 1,531), while R&D costs
were significantly reduced to TEUR 2,492 (previous year’s period: TEUR 4,788).
Particularly, this 48% improvement is due to the spin-off of the therapeutic
division on 2003-1-1, which has strong R&D activities. On a quarterly basis,
this enhanced cost efficiency amounted to 11.4%. The spin-off of the therapeutic
division also influenced the average number of employees which declined from 88
of previous year’s period to 64.
Group wide, significant cost cutting was achieved while maintaining or even
improving efficiency. The consumption of liquid funds within the 3rd quarter
amounted to TEUR 1,363 which is a reduction of 17.5% compared to the 2nd
quarter. Stronger cost consciousness is also demonstrated by the reduction of
general administrative costs by 44% to TEUR 908 (previous year’s period: TEUR
1,635).
The operating income (EBIT) after the first nine months amounted to TEUR -3,512
which is 46% better than previous year’s result (TEUR -6.527). The consolidated
net result increased by 45% from TEUR -3,915 to TEUR -2,265. The undiluted
earnings per share (EPS und DVFA/SG) after nine months are EUR -0.33 (previous
year’s period: EUR -0.57). On 2003-9-30, the balance sheet total amounted to
TEUR 25,805 (previous year: TEUR 30,538), while the equity ratio remained
unchanged at 92%. Total liquidity on 2003-9-30 amounted to TEUR 10,074 (2002-12-
31: TEUR 15,859). According to the board of directors, the financial funds are a
convenient basis to develop all our divisions until break-even, especially as
important progress has been made by concluding licensing and marketing
agreements as well as establishing a strategic partnership with Siemens Medical
Solutions that was recently announced.
Info: Dr. Schroeder, +49(0)9131-75088868
schroeder@november.de
end of ad-hoc-announcement (c)DGAP 13.11.2003
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WKN: 676290; ISIN: DE0006762909; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hannover, München und Stuttgart
130848 Nov 03
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