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LINOS AG: revenue and earnings decrease in the first quarter while orders on hand remain stable
Slowdown in semiconductor business causes revenue shortfall - strong growth by the Health Care & Life Sciences business division - revenue forecast for the full year confirmed
Order intake amounted to EUR 21.6 million, 12.8 per cent more than in the same period the previous year. Total orders on hand at the end of the first quarter of 2008 were EUR 69.0 million (an increase of 4.4 per cent over the same date in 2007).
The operating profit (EBIT) was 23.4 per cent lower than in the previous year (EUR 3.1 million) at EUR 2.4 million. Earnings before tax were 31.4 per cent down on the first quarter of the previous year (EUR 2.7 million) at EUR 1.9 million in the period under review. The main reasons for this were the lower revenue and the reduction in total performance associated with this.
Due to the positive outlook in the Health Care & Life Sciences business division in particular, the Executive Board expects that LINOS will generate revenue of about EUR 98 million and an operating profit (EBIT) of between EUR 10 and 11 million in the 2008 fiscal year, in spite of the downtrend on the semiconductor market. Extraordinary expenses due to the takeover by Optco Akquisitions GmbH are not taken into account here.
Optco Akquisitions GmbH, the main shareholder of LINOS AG, made the official request to the Executive Board of LINOS AG on April 3, 2008 that the LINOS AG shareholders' meeting passes a resolution to transfer the sharesof the minority shareholders of LINOS AG to Optco Akquisitions GmbH in return for an appropriate cash compensation. In view of this, the Executive and Supervisory Boards of LINOS AG have decided to postpone the date for the shareholders' meeting from June 11 to August 26, 2008.
The complete report on the first three months of the year can be downloaded from the Internet at www.linos.de.
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