GretagMacbeth Reports Strong Sales, But Lower Earnings
Press release from the issuing company
3/19/01 - The GretagMacbeth Group, the leading provider of color management solutions, increased sales by 18.7% to CHF 130.4 million in fiscal 2000 (1999: CHF 109.8 million). EBITA was reported at CHF 12.4 million (CHF 14.2 million) and represents 9.5% of sales. Net income equaled CHF 4.7 million (CHF 6.5 million). Operating cash flow generated CHF 14.0 million. At the Annual Shareholders Assembly on May 3, 2001, the Board of Directors will propose a dividend of CHF 6.00 per registered share, unchanged from the previous year. A global economic slowdown is expected to affect business growth in 2001, but a number of management initiatives are being taken to drive an improving level of profitability.
The Digital Imaging division continues to grow. Sales in 2000 were increased by 18.5% to CHF 49.5 million (CHF 41.7 million). In the Visual Evaluation division, sales revenues out-paced expectations and grew by 21.3% to CHF 18.3 million (CHF 15.1 million). The Color Measurement division posted a sales increase of 18.1% to CHF 62.6 million (CHF 53.0 mil-lion), thus contributing 48.0% to total Group sales revenues. The Visual Evaluation division accounted for 14.0% of Group sales, while the Digital Imaging division saw its share un-changed at 38%. Europe accounted for CHF 71.9 million (CHF 59.8 million) of Group sales in fiscal 2000 and makes up 55% of total sales. North and South America supplied CHF 38.7 million (CHF 35.9 million) or 29.6%. With a 39.2% increase over the previous year, growth in Asia was particularly strong and accounted for CHF 19.8 million (CHF 14.2 million) or 15.2% of total sales.
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