ots Ad hoc-Service: paragon AG <DE0005558696>
Delbrück (ots Ad hoc-Service) -
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Earnings before interest and taxes (EBIT) of the sensor manufacturer paragon AG, Delbrück, Germany, were higher than projected in fiscal 2000. In accordance with IAS accounting, EBIT amounted to Euro1.4 million (1999: Euro0.4 million). This represents a 231% increase over the previous year. The company's sales were in line with projections as well and increased considerably, up 46% from Euro14.1 million in 1999 to Euro20.6 million in 2000. As expected, the significant rise in sales was largely a result of the strong growth in the Sensor Products division, where sales climbed 156% to Euro13.8 million (1999: Euro5.4 million). The Sensor Products division was consequently able to improve its share in total sales to 67% (1999: 38%). paragon profited in particular from the expansion of its international market leadership in air quality sensors for the automotive industry, currently the most important application of paragon sensor technology. Earnings before taxes (EBT) improved to Euro0.9 million in the reporting period (1999: Euro-66 thousand). The net income for the year rose to Euro0.4 million after Euro95 thousand in fiscal 1999. With total assets at Euro24.2 million (1999: Euro12.0 million), stockholders' equity amounted to Euro10.0 million at December 31, 2000. As a result of the inflow of funds raised through the IPO, the equity ratio increased to 41% (1999: 9%). At the end of the reporting period, liquid assets totaled Euro5.7 million (1999: Euro1.3 million). paragon plans to continue to pursue the transfer of its sensor technology know- how to applications in new mass markets in the current business year. The company will unveil the prototype of a sensor for detecting natu-ral gas leaks in May 2001, which is earlier than planned. In addition, para-gon expects that after exports represented 10% of sales in 2000, it will be able to boost its foreign sales in the current business year due to the rising international demand for paragon sensors. Moreover, the company re-cently signed a letter of intent concerning an acquisition in the USA. If the deal goes through, the company's international business will be expanded significantly. The Executive Board
Contact:
paragon AG, Investor RelationsIIII Tel.: (05250) 97
62-14; Fax: (05250) 97 62-61; investor@paragon-online.de
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Original-Content von: paragon AG, übermittelt durch news aktuell