[Leica] Leica Camera AG

[kenlass at gate.net (Ken Lassiter)]

This was posted on the PMA industry news web site this morning:

Leica Camera Group sees sales decline 17.4 percent
Picture

Leica Camera Group, <http://www.leica.com>Solms, Germany, announced 
total sales declined 17.4 percent to Euro 119.1 million, according to 
PMA Newsline Europe. In the first nine months of the fiscal year, the 
company had recorded a decrease in turnover of 23.5 percent. Before 
restructuring costs, Leica achieved a profit of Euro 1.3 million, 
significantly better than the even result that the management had 
forecast in February.

  Leica has already announced restructuring costs of Euro 4.7 million 
for fiscal 2003/2004 and Euro 3.8 million for 2004/2005, resulting in a 
negative result after taxes of Euro 3.4 million for 2003/2004, slightly 
better than the forecast of Euro 4 million. More details about Leica's 
operations in 2003/2004 will be available at the end of July.

  Separately, Leica Camera AG announced that it has sold its subsidiary 
Leica Projektion GmbH Zett Ger?te, Brunswick, Germany, to the German 
investment company Allegra Capital GmbH, Munich. Terms of the agreement 
were not disclosed. The transaction is part of Leica's strategy to 
concentrate on its core business under the restructuring plans announced 
in February this year.

  Leica Projektion GmbH Zett Ger?te achieved total sales of Euro 10.0 
million in fiscal 2002/2003 with 74 employees. Its core businesses are 
the development and production of custom-made components and complete 
solutions for special light applications, precision engineering and 
plastics technologies for medical and microscopic applications. Most of 
these technologies such as cold light sources and LEDs do not belong to 
the core competencies of the Leica Camera Group. A smaller share of 
sales is achieved with the production of Leica's range of slide 
projectors, which is not affected by the acquisition. The company will 
continue to supply Leica Camera AG with these products.

 Ken Lassiter