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Economic crisis, warranty costs burden Jetter AG profit

(PresseBox) (Ludwigsburg, ) Jetter AG publishes figures for the fiscal year ended 31 March 2009. After a good first quarter, Jetter was hit by the economic crisis. While a strong growth could be recorded in the first semester, second-semester sales fell 17 % behind the previous year. Two non-recurrent items, a product recall and a warranty accrual, further burdened the result by more than one Mio. Euro. Yearly sales fell by 2 % to 40.2 Mio. Euro (previous year: 40.9 Mio. Euro). After-tax consolidated profit was 1.2 Mio. Euro (previous year: 3.4 Mio. Euro); earnings per share were 0.37 Euro (previous year: 1.05 Euro).

Management expects sales in the current year to be slightly higher than in the last two quarters. This should lead to a modest profit. The unstable economy, however, allows for no dependable estimations. Losses resulting in a net outflow of cash shall however be avoided.

Management is confident that from 2010, sales and results will markedly rise again, independently from the overall economy, based on new projects and orders in Mobile Automation.

The complete financial statements will be published on 24 June 2009 and will be available at the websites of Jetter (http://www.jetter.de) and Deutsche Börse (http://deutsche-boerse.com).

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