euro adhoc: PANDATEL AG
Earnings Forecast
Pandatel: Extended
start-up phase affects revenues and earnings (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
In the course of preparing the nine-month report 2004, the management board of Pandatel AG, Hamburg, adjusted its previous revenues and earnings forecast for the group in FY 2004. The board now expects revenues of EUR 14.5m instead of EUR 20.0m hitherto and a loss after taxes of EUR 11.0m compared to EUR 4.3m so far. The loss after taxes already comprises estimated reorganization costs of app. EUR 1.0m after taxes.
The main reason for the revision is the product rollout that proved to take longer than anticipated. In the current fiscal year 2004, Pandatel AG has introduced a series of new products to the market. Among these are the Yumix 4000 system, developed by Lightmaze, Pandatels new business unit, and the MACS4000 system consisting of numerous single components. Partners, system integrators and end users are testing these products at the moment. Overall, the testing is most successful. Pandatels new developments have already raised positive echo throughout the international technical press. The systems components will be completely available not before 2005. Additionally, the products still have to conclude interoperability testing with other providers systems. Therefore, order receipt for these devices is still lagging behind expectations.
At present, the management board and supervisory board are discussing probable restructuring measures in order to improve the profitability of Pandatel AG considerably.
Pandatels Q3 Report will contain further information on the business development over the first nine months on November 11, 2004.
Pandatel AG: Headquartered in Hamburg, Germany, Pandatel is a specialist provider of professional access and transmission technology for fiber-optic and copper data transmission. With a payroll of some 190, its own representative offices in France and Great Britain as well as subsidiaries in Eisingen (Würzburg), the United States, Israel and Singapore, and a range of sales partners world-wide, the publicly listed company supports corporate clients in 90 countries.
end of announcement euro adhoc 07.10.2004
Further inquiry note:
Christina Kunze
Tel.: +49 (0)40 644 14 187
E-Mail: cku@pandatel.com
Branche: Telecommunications Equipment
ISIN: DE0006916307
WKN: 691630
Index: Prime All Share, Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade