MALMO, Sweden, Aug. 20, 2002 (PRIMEZONE) -- Interim report, for AudioDev AB (publ). (Figures in brackets relate to the period January-September 2001):
-- Net turnover between January and June amounted to SEK 106.7 (92.9)
million.
-- Operating income between January and June totalled SEK 17.0 (18.4)
million.
-- During the first six months of the year, the share of DVD sales
rose to 88 % (72).
Apr- Apr- Change % Jan- Jan- Change %
Jun Jun Jun Jun
2002 2001 2002 2001
Net turnover, 70.2 63.3 10.9 106.7 92.9 14.9
SEK M
Operating 15.3 16.5 -7.3 17.0 18.4 -7.6
income, SEK M
- as % of net 21.8 26.1 - 15.9 19.8 -
turnover
Profits for 10.6 10.1 5.0 11.8 11.3 4.4
the period,
SEK M
- as % of net 15.1 16.0 - 11.1 12.2 -
turnover
Orderbook, 20.6 92.1 -77.6 20.6 92.1 -77.6
SEK M
Earnings per 0.65 0.63 3.2 0.73 0.70 4.3
share, SEK
The AudioDev Group
AudioDev is a world leader in the supply of test equipment for optical media such as CD and DVD. Test equipment forms part of the production equipment used by actors in the market for optical media. These actors include content suppliers who use CD and DVD for the distribution of their products, and the manufacturers of optical media and optical media players.
Since its launch in 1987, AudioDev has set the de facto standard for the testing of optical media. The Group has its head office in Malmo and subsidiaries in the USA and Hong Kong. In addition to this, AudioDev has built up a network of agents in all countries and regions of major significance. None of the company's competitors has global distribution on this scale. Our clients include Technicolor, Ritek Global Media, Microsoft, EMI, Samsung, Warner, Sonopress, Pioneer, Cinram, Panasonic, MBI, DAI Nippon Printing and CMC. With a unique range of products in important growth areas, AudioDev holds the leading position in its sector of a rapidly expanding market. The market for production equipment The market for production equipment and, consequently, test equipment is driven by the introduction of new optical formats at an increasingly rapid rate at the same time as the total demand for optical media is growing. Complexity increases with each new format, a condition which also applies to the development of existing formats. New, more complex formats mean that the demand for advanced testing is growing.
Irregular growth
As described above, the demand for test equipment is dependent on the demand for optical media, but to some extent presents a different pattern. Investment in production equipment and, consequently, test equipment occurs in stages. Growth in the market for media is gradual but, at times, manufacturers have a tendency to over-invest which regularly leads to over-capacity and a hiatus for all suppliers of production equipment. A new period of major investment then follows until growth in a particular medium levels-off and a period of maturity ensues. This investment pattern produces irregular growth in the demand for production equipment and, as a consequence, test equipment.
Other information
This interim report has not been audited by the company's accountants.
Malmo, 20 August, 2002 AudioDev AB (publ.)
Jan Barchan President and CEO
For further information, please contact:
Jan Barchan, Chief Executive Officer Tel: +46 40 690 49 49 E-mail: jan.barchan@audiodev.com Marielle Mattsson Communication & Investor Relations Tel: +46 40 690 49 05 E-mail: marielle.mattsson@audiodev.com
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