LINOS reduces revenue and earnings forecast
The adjustment of the forecast results from the adverse economic situation which by now also affects LINOS AG. The business divisions Information Technology & Communications and Industrial Manufacturing are particularly affected by this development, the latter in particular due to the adverse economic situation in the semiconductor equipment business. However, the development of the Health Care & Life Sciences business division is currently stable.
The Executive Board of LINOS AG has been reacting for several months to the weakening economic situation with a strict cost management. In addition, a number of actions to adapt employee capacities have been taken, e.g. at the Regen plant fixed-term contracts have not been extended, short-time work was announced for the fourth quarter 2008 and a temporary closing of the plant for several days was agreed. Furthermore, the Executive Board of LINOS AG is preparing the cancellation of production of the Warsaw plant.The costs for these necessary capacity adjustments have additional adverse effects on earnings at least in the current fiscal year.
About LINOS AG
LINOS AG is a global manufacturer of sophisticated optical systems. In line with the corporate principle "Photonics for Innovation", LINOS is a development partner and supplier for customers in growing markets, such as lasers, optical metrology, medicine, biotechnology and semiconductors. The company is listed in the General Standard index at the Frankfurt Stock Exchange and joined the Qioptiq Group in June 2007. The Qioptiq Group has an excellent international reputation for the design and production of highprecision optical components and modules for civilian and defence applications. With about 800 highly qualified employees at its locations in Göttingen, Munich, Regen and Warsaw, LINOS AG generated revenues of EUR 94 million in 2007.