|
Gemplus reports fourth quarter and fiscal 2000 results
Company Reports Record Sales and Profits
Luxembourg, February 1, 2001. Gemplus International S.A. (Euronext: Sicovam 5768 and NASDAQ:GEMP) today announced record fourth quarter and fiscal year results. Revenue for the fourth quarter was 386 million euros, up 48% from the same quarter a year ago. Operating income was 47 ME, compared with 32.5 ME for the same quarter a year ago. Net profit for the fourth quarter was 41 million euros, or 0.06 euros per diluted share.
For the full year, revenue was 1.205 BE, up 57% from the previous year's 767ME. Operating Income was 127 ME compared with 57 ME for the previous year. Net income for FY2000 was 99 ME or 0.18 E per diluted share.
"The year 2000 was an exceptional year for Gemplus," said Antonio Perez, president and chief executive officer. "These strong results demonstrate the strength of our business model, our technology leadership, our market positioning and our deep understanding of the smart card solutions industry."
Gemplus' Telecommunications business which consists of wireless SIM modules and the associated software and services, Prepaid Phone Cards and Scratch Cards, grew over 80% in terms of Q4 to Q4 comparisons as well as Fiscal 2000 to Fiscal 1999 comparisons. This reflects a continuation of trends in the wireless space where growth is approaching 100% year-over-year.
Looking forward, Gemplus indicated that while there are a number of macroeconomic factors and mobile handset industry trends that would suggest caution in projecting growth going forward, it remains optimistic about 2001. Gemplus estimates first quarter revenues will grow 31-32% from first quarter levels in 2000. Net earnings in the first quarter, after adjusting for the one-time capital gain from its Intercall investment in Q1FY00, are expected to increase 21-23% from adjusted Q1FY00 levels. The fully diluted share count is expected to increase about 6% from Q4FY00 levels as a result of the IPO, the Celocom Limited and SLP InfoWare acquisitions and the one-time grant of stock options to all employees at the IPO. For the year 2001, Gemplus estimates revenue will grow 30-32% with net profit increasing 27-30% from the nominally reported levels in 2000. After adjusting for the effects of the gain from its Intercall investment and a one-time R&D tax credit in Q1FY00, net profit is projected to grow 58-60%. The fully diluted shares count is expected to increase very modestly throughout the year after Q1FY01.
Cash and cash equivalents were 636 million euros at December 31, 2000. Asset turnover improved slightly in Q4FY00 to 0.799 from the previous quarter's 0.733. Account receivables contributed to this performance as DSO decreased from 68 days to 62 days sequentially. The company's financial results for 2000 have been derived from its consolidated financial statements which have been prepared in accordance with International Accounting Standards (IAS).
About Gemplus
GEMPLUS: the world's leading smart card solutions provider
Since its creation in 1988, Gemplus International S.A.(Euronext: Sicovam 5768 and NASDAQ:GEMP) has driven the global marketing and deployment of smart card-based applications for telecommunications, financial services and e-business security.
Gemplus is instrumental throughout the value chain - chip design, card management systems, software development, and consulting - delivering integrated custom-made solutions for the security, personalization and privacy management needs of clients and partners worldwide.
Gemplus technology has played a defining role in the development of wireless telephony since the introduction of SIM cards into the GSM standard in 1990. For more than a decade, Gemplus has pioneered applications that enable network operators around the world to answer the changing needs of their customers. Gemplus was first to market with a 3G card and supplies a product range compliant with new and emerging transmission standards - 2.5G, 3G.
In 2000, revenue was 1.205 BE, up 57% from the previous year's 767ME. Net income was 99 ME. Gemplus employs more than 7800 people in 37 countries worldwide.
Since 11 December 2000, Gemplus shares have been trading on Euronext Paris S.A. First Market and on Nasdaq in the form of ADSs.
Gemplus: www.gemplus.com
SOME OF THE STATEMENTS CONTAINED IN THIS RELEASE CONSTITUTE FORWARD-LOOKING STATEMENTS. THESE STATEMENTS RELATE TO FUTURE EVENTS OR OUR FUTURE FINANCIAL PERFORMANCE AND INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES, AND OTHER FACTORS THAT MAY CAUSE OUR OR OUR INDUSTRY'S ACTUAL RESULTS, LEVELS OF ACTIVITY, PERFORMANCE OR ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, LEVELS OF ACTIVITY, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS. ACTUAL EVENTS OR RESULTS MAY DIFFER MATERIALLY. ALTHOUGH WE BELIEVE THAT THE EXPECTATIONS REFLECTED IN THE FORWARD-LOOKING STATEMENTS ARE REASONABLE, WE CANNOT GUARANTEE FUTURE RESULTS, LEVELS OF ACTIVITY, PERFORMANCE OR ACHIEVEMENTS. FACTORS THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE ESTIMATED BY THE FOWARD-LOOKING STATEMENTS CONTAINED IN THIS PRESS RELEASE INCLUDE, BUT ARE NOT LIMITED TO: TRENDS IN WIRELESS COMMUNICATION AND MOBILE COMMERCE MARKETS ; OUR ABILITY TO DEVELOP NEW TECHNOLOGY, AND THE EFFECTS OF COMPETING TECHNOLOGIES DEVELOPED AND EXPECTED INTENSE COMPETITION GENERALLY IN OUR MAIN MARKETS ; PROFITABILITY OF OUR EXPANSION STRATEGY; CHALLENGES TO OR LOSS OF OUR INTELLECTUAL PROPERTY RIGHTS ; OUR ABILITY TO ESTABLISH AND MAINTAIN STRATEGIC RELATIONSHIPS IN OUR MAJOR BUSINESSES ; OUR ABILITY TO DEVELOP AND TAKE ADVANTAGE OF NEW SOFTWARE AND SERVICES ; AND THE EFFECT OF FUTURE ACQUISITIONS AND INVESTMENTS ON OUR SHARE PRICE. MOREOVER, NEITHER WE NOR ANY OTHER PERSON ASSUMES RESPONSABILITY FOR THE ACCURACY AND COMPLETENESS OF SUCH FORWARD-LOOKING STATEMENTS. THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS RELEASE SPEAK ONLY AS OF THIS RELEASE. WE ARE UNDER NO DUTY TO UPDATE ANY OF THE FORWARD-LOOKING STATEMENTS AFTER THIS DATE TO CONFORM SUCH STATEMENTS TO ACTUAL RESULTS OR TO REFLECT THE OCCURRENCE OF ANTICIPATED RESULTS.
Consolidated Statements of Income
Condensed Consolidated Balance Sheets
Business Segment Reporting
Revenues
Three months ended December 31
1999
2000
% change
(millions of euros)
Telecommunications
151,5
274,3
81%
Network systems
72,5
81,7
13%
Other
36,7
30,3
<18>%
Total
260,8
386,3
48%
Gross margin
Three months ended December 31
1999
2000
% change
(millions of euros)
Telecommunications
67,5
123,2
83%
Network systems
26,4
25,2
<5>%
Other
6,7
4,9
<26>%
Total
100,6
153,3
52%
Revenues
Twelve months ended December 31
1999
2000
% change
(millions of euros)
Telecommunications
482,3
883,7
83%
Network systems
160,5
196,4
22%
Other
123,9
124,6
1%
Total
766,6
1204,6
57%
Gross margin
Twelve months ended December 31
1999
2000
% change
(millions of euros)
Telecommunications
207,0
378,9
83%
Network systems
51,2
62,0
21%
Other
21,5
13,0
<39>%
Total
279,8
453,9
52%
Geography Reporting
Revenues
Three months ended December 31
1999
2000
% change
(millions of euros)
Americas
36,2
66,8
84%
Emea
181,7
227,0
25%
Asia
42,9
92,5
115%
Total
260,8
386,3
48%
Revenues
Twelve months ended December 31
1999
2000
% change
(millions of euros)
Americas
117,8
185,4
57%
Emea
506,0
701,3
39%
Asia
142,8
317,9
122%
Total
766,6
1204,6
57%
--------------------------------------------------------------------------------
Contacts
Gemplus Corporate, Severine Percetti
tel: 33 4 42 36 67 67
email: severine.percetti@gemplus.com
Gemplus Corporate, Flavie Gil
tel: 33 4 42 36 5683
email: flavie.gil@gemplus.com
Gemplus Investor Relation, Michael Look
tel: 1 650 654 2940
email: michael.look@gemplus.com
©2001 Gemplus All rights reserved. Gemplus,
the Gemplus logo and GemSense are trademarks and service marks of Gemplus
S.A. and are registered in certain countries. All other trademarks and
service marks, whether registered or not in specific countries, are the
property of their respective owners.
|
|
