STOCKHOLM, Sweden, July 23, 2004 (PRIMEZONE) -- Highlights of the Pergo AB (Other OTC:PGABF) Interim Report for the six months ended June 30, 2004:
(All figures in parentheses pertain to corresponding period in the preceding year)
- Net sales for the first six months amounted to SEK 1,417 M (1,344). Excluding currency effects, this was an increase of 13%, compared with the year-earlier period.
- The operating loss for the period amounted to SEK 222 M (loss: 159). The loss includes a restructuring cost of SEK 250 M, taken in the first quarter of the year.
- Excluding items affecting comparability, the operating result for the first six months amounted to SEK 31 M (5) and for the second quarter to SEK 11 M (loss: 10).
- The loss after tax was SEK 223 M (loss: 153).
- Earnings per share was a loss of SEK 4.17 (loss: 2.86).
- Cash flow from current operations was positive during the second quarter and amounted to SEK 81 and negative in an amount of SEK 21 M for the six-month period. Net cash balance amounted to SEK 49 M (8).
- Pergo has signed new long-term credit agreements totaling USD 71.5 M, corresponding to about SEK 540 M. These replace previous agreements.
- Following a request from Explorer Capital Investment, the Board has decided to call for an Extraordinary General Meeting on August 19, 2004.
Trelleborg, July 23, 2004
Board of Directors
Pergo AB (publ) Corporate Communications
For further information, please contact: Goran Bernhoff, CEO Tel: +46 410 36 31 00 Staffan Soderqvist, CFO Tel: +46 410 36 31 00
About Pergo
Pergo AB 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(R) 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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