COPENHAGEN, Denmark, May 22, 2002 (PRIMEZONE) -- GN Great Nordic:
-- Revenues and earnings for Q1 2002 were as expected
-- Revenues were DKK 1,368 million
-- EBITA was DKK (50) million
-- Amortization of goodwill and other intangibles was DKK 119 million
-- Earnings before tax were DKK (192) million
-- Sales of headsets to the call center and office market increased
in Q1
-- Continued growth in sales of Canta hearing instruments
-- NetTest continues to adapt the organization
Outlook for 2002
- GN Great Nordic retains the forecast for GN Netcom's and GN
ReSound's performance in 2002 announced on March 13, 2002 and
confirmed at the annual general meeting on April 23, 2002.
-- For the full year, GN Great Nordic projects revenues - excluding
NetTest - in the range of DKK 5 billion and an EBITA of not less
than DKK 350 million.
-- GN Netcom projects revenues for the full year 2002 of DKK 1.9-2.1
billion and an EBITA margin of 9%-11%
-- GN ReSound projects full-year revenues of DKK 2.9-3.1 billion and
an EBITA margin of 9%-10%
- Following a period of some stabilization since August 2001, NetTest
is again experiencing declining order inflows. The previous Q2 2002
forecast calling for revenues of just over DKK 300 million and an
EBITA of almost DKK (70) million has been reduced to revenues in
the range of DKK 225-275 million and an EBITA of approximately DKK
(100) million, assuming revenues in the middle of the range
indicated. NetTest is further adapting the organization. The
measures will reduce the full-year 2002 break-even revenues (EBITA)
to approximately DKK 1.5 billion compared to DKK 2.5 billion in
2001.
- In the third quarter, NetTest expects to generate revenues in the
range of DKK 225-300 million and an EBITA of approximately DKK (75)
million, assuming revenues in the middle of the range indicated. No
full-year projections are being issued for NetTest, due to the
continued strong uncertainty regarding the investment programs of
NetTest's customers.
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