DJ EANS-Adhoc: init innovation in traffic systems ...

DJ EANS-Adhoc: init innovation in traffic systems AG / init starts fiscal
2010 with strong growth



DJ EANS-Adhoc: init innovation in traffic systems AG / init starts fiscal
2010 with strong growth



=-------------------------------------------------------------------------------

ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc
with the aim of a Europe-wide distribution. The issuer is solely
responsible for
the content of this announcement.
=-------------------------------------------------------------------------------


05.05.2010

init starts fiscal 2010 with strong growth

Karlsruhe, 5 May 2010. init innovation in traffic systems AG started the
2010
financial year reporting strong growth. Sales and earnings in the first
quarter
rose above average, once again exceeding both the prior-year figures and
the
company´s targets. According to the preliminary figures now available, the
global supplier of telematics, planning and electronic fare collection
systems
generated sales revenues of EUR 14.9m by the end of March 2010, up by 55
per
cent on the previous year (EUR 9.6m). The most significant gains were due
to
numerous follow-up contracts both in Germany and in North America.

In terms of earnings before interest and taxes (EBIT), init was able in the

first quarter to more than double the figure on the prior-year period, up
from
EUR 0.9m as at 31 March 2009 to EUR 2.5m. As a result, net earnings in the
period totalled EUR 1.3m (31 March 2009: EUR 0.5m), which corresponds to
earnings per share of EUR 0.14 (31 March 2009: EUR 0.05). The company
benefitted
from the favourable currency trend specifically relating to the US Dollar
and
the Arab Dirham. The operating cash flow proved exceptionally positive.
Totalling EUR 3.8m as at the end of March (31 March 2009: EUR 0m), it is
set to
continue improving throughout the year, as payments are expected from
various
major projects.

The business trend in the init group remained highly resistant to the
effects of
the crisis. Orders worth some EUR 11.0m were added to the books, so that
the
volume of orders as at the end of March stood at around EUR 132m (31 March
2009:
EUR 120m). On the whole, init currently is involved in global tenders worth
well
over EUR 100m.

Based on the highly positive trend in the first quarter, init innovation in

traffic systems AG is geared for yet another very successful year. As a
result,
the Managing Board has confirmed the targets for 2010, with sales of EUR
72m and
earnings (EBIT) of EUR 13m.

The full Q1 report for 2010 will be published on 11 May 2010.



end of announcement euro adhoc
=-------------------------------------------------------------------------------





(END) Dow Jones Newswires


May 05, 2010 04:15 ET (08:15 GMT)




Pressekontakt:
DJ - Dow Jones News GmbH

Baseler Arkaden
Wilhelm-Leuschner-Straße 7
60329 Frankfurt am Main
Telefon: +49 69 29725-0

Web: http://www.dowjones.de
Permalink: http://www.ddpdirect.de/dj_eans-adhoc_init_innovation_in_traffic_systems_ag_init_starts_fiscal_2010_with_strong_growth_56776.html (Dies ist eine über ddp direct verbreitete Pressemitteilung. Für denInhalt ist ausschließlich das herausgebende Unternehmen verantwortlich.) ddp direct - mehr Medien