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ots Ad hoc-Service: i:FAO AG
i:FAO shows EURO 1,90 Earnings per Share - Quarterly Results as at June 30, 2000
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Frankfurt(ots Ad hoc-Service) -
Increase of Gross Profit by 95% . Number of cytric Customers has grown by 278% . Consistent Concentration on Development and Sales of cytric is very successful . EBIT decrease because of "Frontloading" of Marketing Cost . The - Already Increased - Forecast of EURO 1.00 Earnings per Share for 2000 Remains Confirmed .
i:FAO Aktiengesellschaft makes second quarter 2000 results public. Europe's leading producer of business travel management software has increased Gross Sales to EURO 10.994 million in the second quarter 2000. This is an increase of 21% over the second quarter 1999.
Other core figures have also improved substantially: The increased concentration on the business travel management software division further decreased cost of sales related expenses and resulted in a Gross Profit increase of 95% (compared to Q2 99) to EURO 3.167 million. i:FAO's market leading cytric software is now in use at more than 273 customers.
The EBIT (Earnings before interest and taxes) amounts to EURO -3.637 million, which is higher than in the previous year, because of increased marketing spend. The high income because of the sales of TRIP.com shares has made substantial additional funds available, which the company has partly invested. These investments have added to the EBIT. Independent of that, i:FAO continues to plan for Earnings of EURO 1.00 per Share for 2000.
In total the positive numbers confirm i:FAO's strategy to concentrate activities in development and sales of business travel management software:
Key Figures Q2 2000 in EURO (Q2 1999 in EURO)
Gross Sales 10.994 Mill. (9.057 Mill.)
Gross Profit 3.167 Mill. (1.622 Mill.)
EBIT -3.637 Mill. (-1.348 Mill.)
EAT 10.353 Mill. (-1.343Mill.)
Earnings per Share 1.90 (-0.25)
Customers cytric 273 (72)
The complete quarterly report is available from July 27, 2000, 11.00 am local time on our website at http://www.ifao.net for download as a .pdf file.
i:FAO is currently in the process, as already published, to acquire 100% of QuixData Systems Inc., San Ramon, California and plans to separate the cabana business division into an especially founded new company, initially owned by i:FAO at 100%, as well as to separate the eHotel division, similarly to cabana not a part of i:FAO's core business, into a joint venture, a partnership of several companies. i:FAO furthermore plans to acquire up to 15% of the shares of i-tinerary.com, Inc, Scottsdale, Arizona, USA in the form of a capital increase into the company.
All activities should be completed already in October 2000. Sub- sequently, i:FAO will present the core concepts of the strategy as well as a new business plan at a press and analyst conference in Frankfurt am Main.
The Executive Management Board
Louis Arnitz i:FAO Aktiengesellschaft Telephone +49 (69) 1530 5500 eMail email@example.com
Additional information, graphics and pictures in high resolution are available in the press area of the i:FAO website at http://www.ifao.net
Please also visit our new IR page at http://www.ifao.net/ir-eng
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