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Pironet NDH Heading Upwards
Cologne, Germany (ots) - In the third quarter of this year, the Cologne-based content management specialist Pironet NDH systematically continued the consolidation course on which it had embarked in the spring. Restructuring activities have substantially improved operative efficiency - particularly in the project business area - and this is having a corresponding impact on earnings. In spite of lower revenues in the quarter compared with the previous year, Pironet NDH achieved EBIT for the quarter of almost EUR 0.9 million, topping the year-ago figure by roughly 133%. Quarterly EBT rose to EUR 1.1 million and, together with EBIT, reached the highest level ever recorded by the Company.
Revenues in the first nine months of the year came to EUR 18.3 million (previous year: EUR 18.1 million). The Software division performed very well, delivering cumulative revenues of EUR 3.0 million, up roughly 16 % over the year-ago reading (EUR 2.6 million). As a result, the Software division's share in total revenues has risen to 16 % (previous year: 14 %). At EUR 15.2 million, the Services division continued to make the greatest contribution to revenues. Even so, the sustained difficult conditions prevailing in the IT market prevented the division from reaching the previous year's figure (EUR 15.5 million).
The impact of the restructuring activities can be seen in the cumulative post-tax loss of EUR 0.1 million, representing an improvement of 75% over the previous year (loss of EUR 0.4 million). This is equivalent to a loss per share of EUR 0.01 as at September 30, 2001 (previous year: loss per share of EUR 0.04).
Liquidity boosted / Company confident of breaking even in full-year EBIT terms
The upward trend in Pironet NDH'S business is also reflected in the financial area. Cumulative cashflow increased by EUR 1.5 million over the previous year (EUR 0.7 million) and by EUR 1.7 million compared with June 30, 2001 (EUR 0.4 million). In fact, liquidity rose by as much as EUR 2.1 million in the third quarter, coming to a total of EUR 32.3 million at the end of the quarter. This is equivalent to 67 % of total assets and liquidity per share (basic) of EUR 2.21.
On the basis of its current order books worth EUR 3.5 million, Pironet NDH'S management board forecasts full-year revenues of EUR25 million. In EBIT terms, the Company is confident of breaking even and of delivering positive EBT.
The full quarterly report is available at: http://www.pironet-ndh.com/servlet/PB/menu/1000231_l2/index.html
ots Originaltext: Pironet NDH