Aug 22, 2001
Revenues for the six months ended June 30, 2001 equaled US$14.1 million compared with US$14.5 million for the first half of 2000. The operating loss (EBIT) for the year-to-date period was US$2.3 million compared with operating income for the prior year period of US$2.2 million. The net loss for the first six months of 2001 was US$1.1 million, or US$0.06 on a per share basis, versus a net income of US$2.3 million, or US$0.13 per share, for the first half of 2000.
New developments include the latest releases of Valor�s Enterprise 3000 and the Trilogy 5000 software. In May, Valor�s most recent version 6.0 of Trilogy 5000 was released including several new productivity tools that strengthen Trilogy�s 5000 reputation as the best-in-class CAM system for global electronics manufacturing services (EMS) companies. Also released this quarter was version 6 of Valor�s Enterprise 3000 DFM system for electronic engineers that focused on improving collaboration between electronics designers and manufacturers in generating optimized PCB manufacturing data for right-first-time production.
In July, SCI (NASDAQ: SCI) became the first paying customer of e4eNet Inc, Valor�s wholly owned subsidiary launched in 2000, when it signed a formal acceptance of the e4eNet engineering collaboration solution.
Revenue growth for this fiscal year and therefore earnings will strongly depend on the further development of the business environment of Valor�s major customers. As a result, Valor has reviewed its investments and expenses company-wide and adjustments have been made in all possible areas of the company without impacting Valor�s competitive edge, including adjustments in R&D investments. The main areas of the continuing R & D investment program will focus on the Valor Parts Library, assembly CAM software and e4eNet collaboration services.
Commenting on the quarterly results, President and Chief Executive Officer Schmil Dolberg said, �Our performance during the second quarter was clearly impacted by the slow down in the overall economy. However, our underlying business remains sound. Long term, we are convinced that there is a worldwide lucrative market for product-enhancing software products, both in the electronics design and EMS (electronic manufacturing services) segments.�
�Anticipating that economic uncertainties may affect our business in the coming quarters, we are reviewing our investments and expenses on an ongoing basis to make adjustments were necessary without any damage to Valor�s market leadership,� added Dolberg.
In addition, the company finished its share buy back program that was announced in January 2001. From February to August 6, 2001, Valor repurchased a total of 1,472,036 shares at an average share price of EUR 2.68. The number of outstanding shares declined from 19,540,700 to 18,068,664.
Valor�s Board of Directors considers the repurchase of the company�s own shares an investment opportunity and a logical move, due to the under valuation of Valor�s stock and considering the amount of liquid resources Valor has at its disposal. It therefore decided to approve another stock repurchase program for up to US$1.0 million. The Board of Directors left it up to Valor�s management to decide if and when to act on its approval.
The complete quarterly report will be available shortly as pdf download at the site ftp://ftp.valor.com/pub/private/mgmnt_reports/VCRQ201E.pdf.
About Valor
Valor is a global leader in providing business productivity tools throughout the design-through-manufacturing electronics supply chain. Valor is a public company listed on the Neuer Markt of the Frankfurt Stock Exchange. The company's powerful software tools, based on ODB++, the Valor-funded
data format which has quickly become the format of choice for high-level data exchange, ensure the rapid transfer of optimized data from design through manufacturing. Enterprise 3000 DFx system for physical design verification, Trilogy 5000 for assembly and test engineering, and the unique Valor Parts Library on-line data service are utilized by designers and engineers to deliver enhanced productivity, higher yields, shorter cycle times and increased product quality. All Valor products are sold and supported by a worldwide network that includes global subsidiary offices, VARs and OEM channels. More information about the company can be found at http://www.valor.com.
For more information please contact:
Valor Corporate
Cathryn Hage
Pentacom Public Relations
Tel: +44 (0)1242 525205
cathryn.hage@pentacomagency.com
Valor North America
Hileigh Murphy
Valor Computerized Systems, Inc.
Tel: +1 (949) 586 5969
hileigh_murphy@valor-us.com
Valor Europe
Sharon Graves
PentaCom Public Relations
Tel: +44 (0)1242 525205
sharon.graves@pentacomagency.com
Valor Far East
Ofer Shofman
Valor Computerized Systems
Tel: +(852) 2-731 6108
ofer@valor.com
Valor Investor Relations
Sabine Yael
Valor Computerized Systems Ltd
Tel: +972 8 943 2430
sabine@valor.com
.gif)
