Articon-Integralis AG

euro adhoc: Articon-Integralis AG
Quarterly or Semiannual Financial Statements
Articon-Integralis Reports Q2 and H1 2002 Results (E)

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Ismaning (Germany) and Reading (UK), 8 August 2002 - Articon-Integralis AG (Neuer Markt: AAGN), a European market leader in IT security solutions, today announces its results for Q2 and H1 ending 30 June 2002. In Q2, the Group achieved revenues of EUR 51.3m, exceeding preliminary revenue guidance given on 3 July. Services revenue was EUR 21.9m, up 31% from EUR 16.7m in Q2 2001. Product revenue was EUR 29.4m, down 20% from EUR 36.8m in Q2 2001. During the quarter, the Group achieved a gross margin of 36.8% and an EBITDA loss before exceptional items of EUR 0.6m. The Group accrued exceptional charges totalling EUR 2.2m in respect of restructuring costs that will principally be incurred in the second half of the year. The net loss for Q2 2002 was EUR 5.7m, compared to a net loss of EUR 2.4m in Q2 2001. Losses per share under IAS for Q2 2002 were EUR 0.55, as compared to EUR 0.24 for Q2 2001. At 30 June 2002, shareholders’ equity stood at EUR 62.9m. Deferred revenues, which will be recognised over the next 12 months, were EUR 34.6m and the order backlog was EUR 8.8m at quarter-end. Cash increased from EUR 16.8m at 31 March 2002 to EUR 22.0 at 30 June 2002 mainly resulting from the receipt of debt factoring funds of EUR 6.2m. Cash generated by operating activities was positive at EUR 0.2m and working capital was also positive in the quarter. The Group paid final instalments totalling EUR 1.0m in respect of its investment in Foundstone and other earn-outs during the quarter. Mark Silver, CEO, commented: We are committed to an ongoing process of identifying and restructuring areas of the business that are under-performing, harmonising product and service offerings and leveraging our strengths to drive additional business. Our intention is to be bottom line profitable on a regular quarterly basis by 2003. Work on the business review will continue in the next quarter and will be substantially completed by the time of the Q3 results announcement in November.

end of announcement            euro adhoc 08.08.2002

Further inquiry note: Joanne Sullivan, Interim-CFO Tel. +44 118 930 6060 E-mail: Jenny Robb, Corporate Development Director Tel. +44 118 930 6060 E-mail:

Branche: Software
ISIN:      DE0005155030
WKN:        515503
Börsen:  Frankfurter Wertpapierbörse / Neuer Markt
              Baden-Württembergische Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Berliner Wertpapierbörse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Börse Düsseldorf / free trade
              Hamburger Wertpapierbörse / free trade
              Niedersächsische Börse zu Hannover / free trade

Weitere Meldungen: Articon-Integralis AG

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