Cologne, Germany (ots) - Pironet NDH did not manage to escape the
recession in the IT market. For this reason, the company was not able
to reach its set goals in the first quarter of the current business
year in full scale.
The company's sales revenues amounted to Euro 6.0 m in the first
three month of the year. This represented an approx. 28% rise on the
comparable year-ago figure of Euro 4.7 m.
As regards earnings, the tense situation in the IT field and a
deteriorated cost structure were reflected in an operative loss
before interest and taxes (ebit) of Euro -1.9 m against Euro -0.6 m
in the first three month of last year. Net income for the quarter
showed a loss of Euro -0.8 m compared with Euro -0.6 m last year. It
was strongly affected by tax factors and by a significant
year-on-year arise in net financial result. The quarterly loss per
share remained unchanged on the year at Euro -0.05.
To cope with our negative performance, we have worked out a
far-reaching restructuring programme on the basis of changed market
conditions and cost structure which relates to all levels of our
company. Initial measures were implemented in the quarter under
review. They will become fully effective during the further course of
On the one hand, the restructuring scheme includes comprehensive
cost-cutting measures both through reductions in personnel,
consultancy and marketing costs and through a restrictive investment
strategy. On the other, it provides for re-orientating and
intensifying our sales activities and organisational changes.
Taking all given factors into consideration, the company expects on a
realistic basis to be able to maintain last year's sales in the
current business year.
The Board of Management
ots Original Text Service: PIRONET NDH
PIRONET NDH, Investor Relations
Josef-Lammerting Allee 14-18
phone +49 221 770 1150
fax +49 221 770 1155