euro adhoc: Jetter AG
Quarterly or Semiannual Financial Statements
Jetter Sales remain low - cost cutting measures show effect (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Ludwigsburg, 27 February 2002 - Sales of Jetter AG, which had slumped at the beginning of the fiscal year due to the semiconductor crisis and the economic recession, remained low during the third quarter, as expected. From April through December 2001, sales dropped by 43,4% from EUR 18.0 Mio to EUR 10,2 Mio. EBIT for the three quarters was EUR -4.8 Mio (previous year: EUR 0.0 Mio) and the consolidated result was EUR -5.1 Mio (previous year: EUR -0.2 Mio). Third quarter sales diminished by 47.9% to EUR 3.2 Mio, compared to the same quarter of the previous year (EUR 6.1 Mio). This decrease is partly due to an excessive semiconductor boom in last years quarter. As a consequence, the drop was sharpest in Asia (-92%) and America (-75%). In the third fiscal quarter of 2001/02, Jetter registered an EBIT of EUR -1.5 Mio (previous year: EUR -0.5 Mio) and a consolidated loss of EUR -1.5 Mio (previous year: EUR -0.7 Mio). Earnings per share according to DVFA/SG were EUR -0.66 (previous year: EUR -0.31). In the reporting quarter, a range of new JetWeb-related products was developed to marketability; a complete modular system is now available, which will generate significant sales in the upcoming fiscal year, though under the general conditions of the semiconductor industry and the economic environment, which are not expected to change before mid-2002. The initiated cost-cutting measures are already producing considerable effects, which will increase in the following quarters. Jetter is therefore confident that the liquidity of EUR 6.4 Mio will guarantee the market entry of JetWeb technology, and that Jetter will consequently return to the profit zone. The complete quarterly report can be viewed at www.jetter.de. For further information please contact: Jetter AG, Martin Jetter, CEO, Tel.: +49 7141-2550-410 e-mail: mjetter@jetter.de
end of announcement euro adhoc 27.02.2002
Further inquiry note:
Günter Eckert
Branche: Semiconductors & active components
ISIN: DE0006264005
WKN: 626400
Börsen: Baden-Württembergische Wertpapierbörse, Börse
Düsseldorf, Hamburger Wertpapierbörse, Handelsüberwachung der
Berliner Wertpapierbörse, Frankfurter Wertpapierbörse