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02.04.2003
Intershop Announces Revenue Expectations for the First Quarter of 2003
Jena, Germany, April 2, 2003 – Intershop Communications AG (Nasdaq: ISHP; Prime Standard: ISH1), the market leader in Unified Commerce Management, today announced revenue expectations for the first quarter of 2003, ended March 31, 2003.
Intershop expects first quarter 2003 revenue will be approximately Euro 6 million to 7 million, down from Euro 12.0 million in the previous quarter. Although the Company had expected a decline in first quarter 2003 total revenue, the significant shortfall in license revenue was larger than internally expected.
The Company expects to incur a first quarter 2003 EBITDA (earnings before interest, taxes, depreciation and amortization) loss of approximately Euro 6 million to 7 million. Stephan Schambach, Intershop Chief Executive Officer commented, “Due to the highly uncertain global economic environment combined with ongoing weakness in information technology (IT) spending, the number of deals closed during the first quarter of 2003 did not meet our expectations. As many prospective first quarter customers have deferred IT spending, we expect that a significant number of these deals could materialize in subsequent months. In the interim, we continued to implement measures to reduce costs in the first quarter of 2003 as announced on January 21, 2003.”
Intershop will report full financial results for the first quarter of 2003 on April 30, 2003.
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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