Direkt von deren Homepage:
VIZRT ANNOUNCES 2002 NINE MONTHS RESULTS
Reaching Positive EBITDA of $268,000
Bergen, Norway, November 13, 2002, vizrt Ltd. (Neuer Markt: VIZ) today announced the financial results for the 9 months ended September 30, 2002 and for the third quarter of 2002. The results attest to the company’s ability to make the turn around in 2002, reducing operating expenses and improving gross margin and bottom line results. In the third quarter the company for the first time ever, reached operating breakeven.
As of today the company has a solid backlog of approximately US$ 4.2M.
Financial Highlights for the third quarter of 2002
· Positive EBITDA (excluding taxes, interest, depreciation and deferred stock compensation) for the third quarter, totaling US$ 211,000.
· Consolidated revenues for third quarter 2002 increased by 22% to US$ 4.4M from US$ 3.6M in the third quarter of 2001.
· Gross margin for the third quarter was 67% compared with 59% in the third quarter of 2001.
· Net loss for third quarter of 2002 was US$ 0.1M compared with US$ 4.3M in the third quarter of 2001.
· Loss per share for third quarter of 2002 was US$ 0.01 compared with US$ 0.32 in the third quarter of 2001.
Financial highlights for the nine months ended September 30, 2002
· Positive EBITDA for the first nine months of 2002, totaling US$ 268,000.
· Consolidated revenue for the first nine months of 2002 reached US$ 11.1M, a decrease of 12% compared to US$ 12.6M in the first nine months of 2001.
· The decrease in consolidated revenues was compensated by a significant increase in the gross margin to 69% in the first nine months of 2002 from 52% (not including inventory charges of US$ 1.2M) in the first nine months of 2001.
· Net loss for the first nine months decreased to US$ 0.45M compared with US$ 17.6M for the first nine months of 2001.
· Loss per share for the first nine months of 2002 was US$ 0.03 compared with US$1.32 in the first nine months of 2001.
· As of September 30, 2002 the company had a balance of US$8.8M in cash and short-term deposits compared with US$8.4 million as of December 31, 2001.
Mr. Bjarne Berg, President and CEO said: ”I am very proud with the results we achieved for the quarter. We have managed to reach operating breakeven under extreme market conditions, and yet continued the development of both new products and new markets. I feel confident with our visibility and position going forward and believe our new products for sports and film will add to revenues in the second half of 2003.
Along with the company’s quarterly achievements, we managed to reduce DSO (Days Standing Out) of receivables to 67 days and lowered our inventory level significantly to $1.1M. Finally – we maintained a strong cash position, and reached breakeven from operating activities cash wise” concluded Mr. Berg.
Grüße von
Zurück
&zeitvon=&skalierung=log&von=0&B1=Aktualisieren&ind_gd38=ON)
