ELSA AG
ELSA AG english
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ELSA announces its second quarter’s results
Aachen, August 22, 2001 – ELSA AG, one of the world’s leading suppliers of
Internet access, networking and computer graphics solutions, today announced its
results for the second quarter of 2001.
Compared to the corresponding period of the previous year sales decreased by 4%
to EUR 69.9 million. Sales in the data communication segment were reduced by EUR
3.2 million to EUR 27.2 million while sales in the computer graphics segment
remained stable with EUR 42.7 million. Compared with EUR 80.8 million revenues
in the first quarter 2001 the typical seasonality pattern of the industry is
reflected.
In the second quarter international sales decreased from EUR 39,4 million resp.
54% to EUR 25.1 million resp. 35,9 % of total sales, primarily due to the weak
sales in North America.
Operating expenses were reduced by EUR 2.1 million EUR to 17.1 million, compared
with EUR 19.2 million in the second quarter of the previous year, demonstrating
initial results of the company’s internal earnings improvement and cost
reduction program.
The reported operating loss of EUR 4.0 million (compared to EUR +0.8 million in
the previous year), mainly resulted from lower gross margins (19 % in 2001
compared to 27 % in 2000), which were temporarily accepted to maintain market
shares especially in the consumer market segments by attractively priced
offerings.
Results before minority interest amounted to EUR -3.4 million after -0,9 million
EUR in the first quarter of 2001 and compared to EUR -2.2 million EUR in the
previous year. The new reporting format of “Neuer Markt” ELSA’s net income now
also includes the results of minority interests. This reporting procedure
therefore differs to previous reports. For the second quarter of 2001 the net
loss amounts to 3.1 million EUR compared to a net loss of 2.1 million EUR in
2000.
Earnings per share (EPS) amounted to EUR -0.29 for the second quarter of 2001,
compared with EUR -0.20 in the corresponding period of the prior year.
In expectation of a revitalized market ELSA is utilizing the opportunity of a
slower market period to continue its internal restructuring and costs reduction
programs. The consolidated computer graphics market and the continuing growth of
the Internet allow ELSA, despite the current challenges of the IT market, to
look into the future with confidence. The first production-ready digital home
networking products of the ELSA VIANECT series will be presented to a broad
public during the IFA trade show (IFA-Internationale Funkausstellung) in Berlin
at the end of August. With the established world-wide presence and
technologically innovative solutions for all served market segments ELSA is well
positioned for the coming year end business.
The complete report is available at
http://investor.elsa.com/berichte/quarterly_reports.html.
***
Corporate Background ELSA
ELSA is one of the leading providers of Internet access 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 around
600 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),
Milan (Italy) Madrid (Spain) and Stockholm (Sweden).
Since June 1998, ELSA AG shares are traded on the “Neuer Markt”
trading segment (WKN 507 360) of the Frankfurt stock exchange in Germany.
***
For more information about ELSA:
Sven Heyden
Investor Relations Manager
ELSA AG
Sonnenweg 11
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
end of message, (c) DGAP 22.08.2001
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