STOCKHOLM, Sweden, April 22, 2004 (PRIMEZONE) -- Pergo:
- Net sales amounted to SEK 746 M (679). Excluding currency effects, this was an increase of 22% compared with the year-earlier period.
- Operating loss in the first quarter was SEK 233 M (profit: 9). Excluding items affecting comparability, the corresponding result was a profit of SEK 20 M (15).
- The loss after tax was SEK 238 M (profit: 6).
- Earnings per share was a loss of SEK 4.44 (profit: 0.11).
- Cash flow from current operations was negative and amounted to SEK 102 M during the first quarter mainly due to increased sales resulting in higher accounts receivable. The net cash balance, that is liquid funds less utilized credit facilities, was SEK 8 M (9).
- Earnings during the period were charged with SEK 250 M as a result of the pending structural changes in Europe. SEK 140 M of this amount pertained to write-downs of fixed assets.
Pergo is a laminate flooring company with leading market positions, particularly in Europe and the US. Net sales amounted to MSEK 2,799 (3,194) in full-year 2003 and the number of employees was 795 (784) as at December 31, 2003. Pergo developed laminate flooring at the end of the 1970s and launched the product in Europe during the 1980s. The company started sales in the US in 1994 and, to a smaller degree, in Asia in 1995 and Latin America in 1997. The company's products have been marketed under the Pergo® brand name since 1989. The company is listed on the Stockholm Stock Exchange. For further information about Pergo, please visit our homepage www.pergo.com.
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