Ad-hoc | 21 November 2001 08:30

NorCom Info. Tech. AG english

NorCom’s 9-months figures within forecast corridor Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– NorCom’s 9-months figures within forecast corridor – Cost-cutting program taking effect – LBITDA reduced by EUR 1.6 mn between the 2nd and 3rd quarters 2001 Munich, November 21, 2001 – In spite of difficult market conditions, NorCom Information Technology AG was able to boost its revenues slightly in the third quarter of 2001 and come within its forecast corridor. Revenues in the third quarter of the year came to EUR 8.9 million, up from EUR 8.6 million in the previous quarter. All in all, the NorCom Group achieved revenues of EUR 25.3 million in the first nine months of the year, up from EUR 24.7 million one year earlier. After being implemented mid-year, the cost-cutting program is now bearing fruit. Thus, loss before interest, tax, depreciation and amortization (LBITDA) was reduced significantiy by EUR 1.6 mn to EUR 0.8 mn. Loss before interest and tax (LBIT) in the first nine months of this year came to EUR 7.0 million, compared with LBIT of EUR 0.6 million in the year-earlier period. Consolidated loss after tax and minority interests stood at EUR 4.3 million for the first nine months of the year. The still high equity ratio of 81% and liquidity totaling EUR 12.5 million are providing a solid basis for the Company’s continued growth. Consulting project business remained the business mainstay in the third quarter, with revenues in this segment rising by just under 40% in the first nine months of 2001 compared to the previous year, reaching a volume of EUR 21.9 million as of September 30, 2001 (2000: EUR 15.7 million). All told, E-Security revenues rose during the quarter in spite of the lower contribution made by product business. Although the difficult state of the Scandinavian market placed a damper on revenues growth in the E-Business division in the third quarter, revenues in this division were up roughiy 55% over the year-earlier period, rising to EUR 19.8 million. Given the lack of market visibility, it is currently difficult to provide any forward guidance. Even so, the cost-cutting program is making progress. Accordingly, management expects net loss to continue shrinking in the fourth quarter, with the breakeven horizon now within striking distance. Still, the worsening economic situation will make it difficult for the Group to already achieve a profit for the final quarter of this year. With order books worth EUR 18 million, however, Management is confident that revenues will continue growing according to plan. For further information please contact: NorCom Information Technology AG Fon +49-89-939 48 140 / 150 press Fax +49-89-939 48 123 Stefan-George-Ring 6 press@norcom.de D-81929 München http://www.norcom-ag.com end of ad-hoc-announcement (c)DGAP 21.11.2001 ——————————————————————————– WKN: 525030; Index: Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Hannover und Stuttgart 210830 Nov 01