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GLOBAL GRAPHICS Announces First Quarter Results

Friday, April 27, 2001

Press release from the issuing company

Pompey, France April 26, 2001 The Company is amortizing purchased goodwill and purchased intangibles at a fast pace, over periods principally ranging between 3 to 5 years, resulting in significant amortization expenses in the periods following acquisitions. Total amortization for the first quarter was Euro 3.6 million, for both unallocated goodwill and intangible assets (excluding the effect of deferred tax on it). Comments on profitability for the Company and each operating division mentioned in this press release are excluding the impact of these amortization expenses on results. EBITA is defined as Earnings Before Interest, Tax and intangibles Amortization. Current net income is pro forma income computed by adding back to the reported net income amortization expenses for intangible assets and unallocated goodwill, net of deferred tax impact on these, when applicable, as well as one-off costs. Total sales were Euro 26.3 million, an increase of 17% over Q1 2000. Current earnings per share for this quarter were Euro 0.23, slightly in excess of the Euro 0.22 per share made in Q1 2000, and increased quite sharply in absolute value to Euro 2.3 million, an increase of 12% with Q1 2000. Hardware sales were Euro 18.9 million, versus Euro 17.0 million in Q1 2000, an increase of 11%. Printing software sales reached Euro 7.0 million, versus Euro 5.3 million in Q1 2000 (+32%). Xanalys had revenues of Euro 0.4 million for this quarter, and lost Euro 0.6 million (Euro 0.06 current earnings per share). Excluding Xanalys, Global Graphics earned Euro 0.29 per share in the quarter, versus Euro 0.25 in Q1 2000.

 

 

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