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Ad hoc announcement according to § 15 WpHG - PIRONET NDH posts a record quarter
Cologne, Germany (ots) - The package of measures initiated as early as the Spring at PIRONET NDH, the Internet software house, is already starting to bear fruit. The Group's restructuring coupled with rigorous cost management has caused profits to surge in the third quarter, despite sales having fallen from Euro 7.38 million in Q3, 2000 to Euro 6.12 million in the same quarter this year. EBIT has leaped some 133 percent to Euro 0.85 million. The Company's cash flow increased about Euro 2 million from Euro 30 million (Q2 2001) up to Euro 32 million at the end of Q3. Therefore PIRONET NDH has the lion's share of the proceeds from the IPO still on hand, EBT shows a result of Euro 1.11 million. Both results are absolute records in the history of PIRONET NDH.
In the nine-month frame, PIRONET NDH has seen sales rise 1.2 percent to Euro 18.29 million. As regards EBIT, the Cologne-based company have thus far posted a loss of Euro 1.33 million, greater than the loss of Euro 0.95 million at the same point last year. In terms of the loss before taxes, the figure is Euro 0.3 million as compared with a loss of Euro 0.05 million for the first three quarters of the prior year.
PIRONET NDH has set its sights firmly on breaking even in business 2001 in terms of EBIT and of scoring clear EBT.
The above-mentioned figures are provisional. The conclusive financial figures will be announced in mid-November in the framework of our quarterly reporting.
ots Originaltext: Pironet NDH