NOVEMBER 27--LINOS AG (Göttingen, Germany; www.linos.com) increased its order intake for the fourth time in succession in the past quarter. Volume was 1.6% higher at EUR 20.03 million (previous quarter: EUR 19.72 million). Sales revenue grew by 7.0% to EUR 18.31 million (previous quarter: EUR 17.12 million). The operating result improved considerably to minus EUR 1.11 million (previous quarter: minus EUR 5.76 million).
"We are making good progress, although the market environment is still difficult. It is not yet possible to claim that the entire photonics industry is returning to sustained growth," said Gerd Litfin, LINOS CEO. Demand in the telecommunications and semiconductor industries, in particular, remained sluggish.
The large fluctuations in demand continue to allow only cautious forecasts to be made. LINOS has become increasingly flexible and efficient in the past few months thanks to the reorganization program. Important international markets are being opened up effectively. The company is in a better competitive position as a result and is well prepared for future growth. Increasing order intake and constructive ongoing cooperation with customers and research institutes also promise stable business conditions. LINOS continues to expect that it can reach the earnings forecast for the 2002 fiscal year. The company anticipates achieving better EBIT than in the previous quarter again in the fourth quarter.