Corporate | 20 May 2009 07:30
InTiCa Systems AG / Quarter Results
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Group sales declined to EUR 5.6 million from EUR 9.6 million
Cost-cutting measures successfully implemented, yet net loss for the
quarter with EUR 0.5 million (Q1 2008: minus EUR 0.4 million)
Automotive Technology and Industrial Electronics segments about to reach
break-even
Passau, May 20, 2009 - Despite considerably lower sales in Q1 (EUR 5.6
million compared to EUR 9.6 million in Q1 2008), InTiCa Systems AG (ISIN
DE0005874846, Prime Standard) was able to hold earnings at the year-back
level as expected. Net earnings for Q1 2009 were minus EUR 0.5 million (Q1
2008: minuns 0.4 million). The global recession and the reduction in demand
in the Communication Technology segment led to a strong decline in sales.
Thanks to the cost-cutting drive introduced in 2008, InTiCa Systems was
nevertheless able to maintain net income virtually unchanged. EBITDA was
positive at EUR 0.5 million and thus also virtually unchanged year-on-year
(Q1 2008: EUR 0.6 million).
Automotive Technology and Industrial Electronics segments show positive
development
While the Communication Technology segment still is effected by the
continued slump in orders from the telecommunications sector as well as
tougher price pressure resulting from increased competition, which resulted
in a drop in sales to EUR 3.7 million for the segment (Q1 2008: EUR 8.3
million), the Automotive Technology segment grew sales to EUR 1.6 million
in the first quarter of 2009 (Q1 2008: EUR 1.1 million). Sales in the
Industrial Electronics segment also increased to EUR 0.3 million (Q1 2008:
EUR 0.1 million).
Cost-cutting measures successfully implemented
The cost of materials declined from 75% of sales in Q1 2009 to 72% in Q1
2009, partly showing the result of effective cost-cutting measures.
Personnel expenses declined from EUR 1.6 million in the first three months
of 2008 to EUR 1.2 million in the first quarter of 2009 as well as other
expenses, that were reduced to EUR 0.7 million in Q1 2009, down from EUR
0.8 million in Q1 2008.
Net loss for the Group
EBIT was negative in all segments in Q1 2009. However, the Automotive
Technology segment and the Industrial Electronics segment, which is
reported under 'Others', both achieved a considerable reduction in their
operating losses to EUR 0.01 million and EUR 0.03 million respectively (Q1
2008: losses of EUR 0.2 million and EUR 0.1 million). The EBIT for the
Group was negative with minus EUR 0.4 million. (Q1 2008: minus EUR 0.1
million), which can be attributed to the major decline in the Communication
Technology segment (minus EUR 0.3 million compared to EUR 0.2 million in Q1
2008).
Net income for the Group was minus EUR 0.5 million (Q1 2008: minus EUR 0.4
million). Earnings per share were minus EUR 0.12 (Q1 2008: minus EUR 0.10).
Outlook
Considering the recent developments that are in line with our plans as,
amongst others, the increasing order intake, the Board of Directors still
assumes that over the year as a whole, sales are stabilizing and there will
be a considerable improvement in earnings.
The complete interim reporet for Q1 2009 is available under
www.intica-systems in the Investor Relations section.
InTiCa Systems AG
The Board of Directors
CONTACT Walter Brückl | CEO
PHONE +49 (0) 851 - 966 92 - 0
FAX +49 (0) 851 - 966 92 - 15
MAIL investor.relations@intica-systems.de
20.05.2009 Financial News transmitted by DGAP
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Language: English
Issuer: InTiCa Systems AG
Spitalhofstraße 94
94032 Passau
Deutschland
Phone: 0851 / 96692 0
Fax: 0851 / 96692 15
E-mail: investor.relations@intica-systems.de
Internet: www.intica-systems.de
ISIN: DE0005874846
WKN: 587484
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hamburg, München, Stuttgart
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