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Funkwerk AG / Quarterly report / Ad hoc: Funkwerk raises revenues in the third quarter and achieves positive earnings Ad hoc announcement according to §15 WpHG processed and transmitted by Hugin. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
Kölleda, 07. November 2008 - Funkwerk AG (ISIN DE0005753149) performed well in the third quarter of 2008 despite a difficult market environment caused by the global financial crisis, posting another increase in earnings. During the period from July through September, consolidated revenues increased 7.6 per cent year-on-year to 71.9 mill. Euro (2007: 66.8 mill. Euro). This represents a 5.1 per cent increase to 203.3 mill. Euro over the previous fiscal year (2007: 193.4 mill. Euro).
In addition to restructuring charges incurred by the Enterprise Communication business segment, declining auto industry sales also impacted Q3 results. Nonetheless, Funkwerk, a specialist in the field of professional communication and information systems listed on the Prime Standard, still posted an operating profit of 1.3 mill. Euro for the period (2007: 2.3 mill. Euro).
However due to positive developments in the financial results and the tax burden, net profit for the quarter rose to 1.0 mill. Euro (2007: 0.5 mill. Euro). Earnings per share rose accordingly to 0.12 Euro (2007: 0.06 Euro). For the nine months' year-to-date Funkwerk has generated positive EBIT of 2.5 mill. Euro (2007: 4.0 mill. Euro) despite the charges noted above. Consolidated net profit for the three quarters totalled 1.3 mill. Euro versus 1.7 mill. Euro last year.
Because many of Funkwerk's customers are large corporations and public-sector entities that generally settle accounts at the end of the year, Funkwerk revenues and earnings are concentrated in the fourth quarter. The Management Board thus believes that its revenue and earnings targets for 2008 are still nearly within reach despite continuing economic weakness affecting the automotive industry in particular.
WKN: 575314; ISIN: DE0005753149; Index: HDAX, MIDCAP, CDAX, Prime All Share, TECH All Share; Listed: Geregelter Markt in Frankfurter Wertpapierbörse, Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in Börse Berlin, Freiverkehr in Bayerische Börse München,
Freiverkehr in Börse Düsseldorf, Freiverkehr in Börse Stuttgart,
Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Niedersächsische Börse zu Hannover;
