STOCKHOLM, Sweden, April 18, 2005 (PRIMEZONE) -- (Figures in brackets (xx) correspond to the figures for the same period last year)
Improved result for Pergo
-- Net sales for the period totaled SEK 713 million (746).
Excluding currency effects, this was in line with last year.
-- The operating profit for Q1 was SEK 23 million (-233).
Excluding items affecting comparability last year's
result amounted to SEK 20 million.
-- The profit after tax for the period was SEK 20 million (-238).
-- The earnings per share (EPS) for the period were SEK 0.37
(-4.44).
-- Cash flow from ongoing operations in Q1 was SEK -67 million.
The net cash was SEK -139 million (8) at the end of the period.
Events after the end of the period
-- After the end of the quarter CEO Goran Bernhoff and Sr VP
Technology & IP Diane Tate have both informed that they
will leave the company. The process of finding their successors
has been initiated.
Comments by CEO Goran Bernhoff
"Pergo reports a profit improvement for Q1. Our North American business activities are responsible for this improvement. We are showing powerfully that streamlining our product supply is giving results. Sales to Lowe's are continuing to climb strongly.
The restructuring scheme in Europe is going somewhat better than expected, and the investment project in a press for direct laminate flooring in the US is going according to plan. Both projects are expected to be finalized during the summer. The company will thereafter be equipped for a growth phase.
Our forecast stands for full-year 2005 of significantly improved profits towards the end of the year."
Trelleborg April 18, 2005 Pergo AB Corporate Communications For further information, please contact: CEO -- Goran Bernhoff, phone number +46 410 36 31 00 CFO -- Staffan Soderqvist, phone number +46 410 36 31 00 Communications Manager -- Asa Ruhr, phone number +46 410 36 33 27
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