SOLNA, Sweden, August 14, 2003 (PRIMEZONE) -- Frontec (Other OTC:FRNRF):
- The merger with Acando was approved by the extraordinary general meeting on June 30.1
- The Group's net sales amounted to SEK 213 million (338)2 for the period and SEK 102 million (167)2 for second quarter.
- The Group's operating loss, EBIT, was SEK -69 million (-40)2 for the period and SEK -53 million (-18)2 for second quarter.
- The Group's liquid assets, including short-term investments, amounted to SEK 143 million (21) at the end of the quarter.
- The result for the period was charged with structural costs of SEK 34 million, of which SEK 7 million relates to structural changes prior to the merger with Acando and the remainder to measures taken in Frontec's operations. Additional costs for structural measures will arise in connection with the integration with Acando during the third quarter.
For further information, please contact: Lars Wollung, President telephone +46 730 21 14 26
1 This interim report refers to the operations of Frontec prior to the merger. The consolidation of Acando took effect on July 1, 2003. 2 For better comparative figures with the previous year, see the table below, Frontec after structural changes.
This information was brought to you by Waymaker http://www.waymaker.net
The full report is available for download:
http://www.waymaker.net/bitonline/2003/08/14/20030814BIT00100/wkr0001.doc
http://www.waymaker.net/bitonline/2003/08/14/20030814BIT00100/wkr0002.pdf