BROMMA, Sweden, Feb. 19, 2003 (PRIMEZONE) -- Dimension AB (publ) (Other OTC:DMSNF) (Stockholm:DMSN):
-- Weak IT market the entire year with no signs of a general recovery.
-- Net sales amounted to SEK 1,118.1 million (1,172.7).
-- The loss after financial items was SEK -233.8 million (-18.0).
-- The loss includes restructuring expenses of SEK 42.5 million (11.5)
and goodwill write-down of SEK 39.4 million (0), totaling
SEK 81.9 million.
-- The company's net cash position was SEK 73.5 million at year-end.
-- The action program that has been implemented will reduce the Group's
costs by approximately SEK 85 million per year.
-- Strategically important orders were received for services and
systems solutions in data storage, security and other
infrastructure from AstraZeneca, 3, Trebruk, Vodafone, Sveriges
Radio Forvaltning the Swedish National Archive of Recorded Sound
and Moving Images.
-- Continued success in the Baltic market with a number of major orders.
-- The Board of Directors recommends that no dividend be paid for
the fiscal year.
Fourth quarter
-- Sales amounted to SEK 243.2 million (274.5).
-- The loss after financial items was SEK -96.5 million (-18.7).
-- The loss includes restructuring expenses of SEK 16.2 million (0)
and goodwill write-down of SEK 39.4 million (0), totaling
SEK 55.6 million.
Following the conclusion of the year
-- Additional restructuring measures are being taken to adapt costs
to a sluggish market. The action program includes the elimination
of around 80 positions and is expected to reduce the Group's costs
by approximately SEK 75 million on an annual basis.
-- A decision is made to appoint a new Managing Director to succeed
Sven Uthorn. Chairman Bjorn Boldt-Christmas will serve as acting
Managing Director until a new appointment is made, while Ulf
Ivarsson takes over as Chairman of the Board.
-- As an element in the shift toward a higher service content,
Dimension has sold the large part of the distribution operations
in Next Nordic. The sale is expected to add liquidity of some SEK
50 million.
For further information, please contact:
Bjorn Boldt-Christmas, Managing Director
phone + 46 705 88 76 85
Thord Norberg, Chief Financial Officer
phone + 46 8 5058 3004
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