Archive
12.02.2002
Intershop Communications Reports Fourth Quarter and Full Year 2001 Financial Results
Jena, Germany – February 12, 2002 - Intershop Communications AG (Neuer Markt: ISH, Nasdaq: ISHP), a global provider of e-business software, today announced financial results for the fourth quarter and full year 2001, ended December 31, 2001.
Fourth quarter revenue totaled Euro 11.7 million compared with revenue of Euro 14.7 million in the third quarter of 2001, ended September 30, 2001. For the full year 2001, Intershop recorded total revenue of Euro 68.7 million compared with revenue of Euro 123.0 million in fiscal year 2000. Including restructuring charges, the Company reported a fourth quarter 2001 net loss of Euro 24.7 million or a net loss of Euro 0.28 per share. This compares to a net loss of Euro 32.1 million or a net loss of Euro 0.37 per share in the fourth quarter of 2000. Continued cost reduction measures progressively reduced Intershop’s quarterly cash and marketable securities usage to Euro 8.9 million in the fourth quarter of 2001, compared to Euro 10.4 million in the third quarter of 2001. Intershop ended fiscal year 2001 with total liquidity including cash, cash equivalents, marketable securities, and restricted cash at Euro 36.3 million compared with Euro 45.2 million as of September 30, 2001. In order to dramatically accelerate Intershop’s path to profitability, CEO Stephan Schambach has launched a series of strategic initiatives:
New Management Team: The CEO appoints a new management team, to be based in the Company’s headquarters in Jena, Germany.
Simplified Company Structure: As a result of completely redesigning and simplifying the organizational structure, Intershop targets a reduction in the global workforce from the current 733 employees to 500 by the end of the second quarter of 2002.
Aggressive Sales Program for New Products: Intershop will target global enterprise customers, up-sell the new MultiSite and Content Management product offerings within the installed customer base, intensify indirect selling, and focus more intensely on the Retail and High-Tech & Manufacturing industries. Full Financial Press Release The full financial press release relating to this ad hoc disclosure can be found at http://www.intershop.com, section investors.
Investor Conference Call Information The company will hold a conference call (audio Webcast at http://www.intershop.com, section investors) with CEO Stephan Schambach and Vice President of Finance Dirk Reiche to discuss the fourth quarter and full year 2001 results in more detail. The conference call is scheduled for Tuesday, February 12th, 2002, at 10 a.m. Central European Time. A replay of the call will be made available via the Internet at http://www.intershop.com.
Investor Relations:
Annett Körbs
T: +49-3641-50-1370
F: +49-3641-50-1309
ir@intershop.de
Public Relations:
Dr. Ute Danz
T: +49-3641-50-1000
F: +49-3641-50-1002
pr@intershop.de
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