IT market weaker than anticipated in fourth quarter

Report this content

IT market weaker than anticipated in fourth quarter In the fourth quarter of 2002 Scribona experienced a weaker Nordic IT market than anticipated. Against this background, Scribona's board of directors expects the company to achieve sales of MSEK 3,600 and report operating income of around MSEK 0 for the fourth quarter of 2002. In its interim report for January-September, Scribona predicted that the fourth quarter of 2002 would be on par with the corresponding period of last year when sales amounted to MSEK 3,819 and operating income to MSEK 46. The company's Danish operations, which were responsible for most of the negative trend, have geared up the ongoing rationalization program and recently carried out changes at the management level. Scribona plans to downsize the number of staff in Denmark by approximately 45 during the first half of 2003 at the same time that measures are being taken to strengthen margins. Despite a weaker fourth quarter, Scribona will show a positive cash flow for both the quarter and the full year 2002. For additional information, contact: Lennart Svantesson, President & CEO, telephone: +46 8 734 35 76 Anders Bley, Executive Vice President, telephone +46 8 734 35 55, Örjan Rebeling, Chief Financial Officer, telephone +46 8 734 34 88 Facts about Scribona Scribona is the Nordic market's leading provider of IT products and solutions, offering customers cutting-edge product expertise, the industry's leading e-commerce system, optimized product availability and a broad range of complementary services. Scribona's operations are organized in three business areas: · Scribona Solutions - value adding distribution of IT infrastructure · Scribona Distribution - effective volume distribution of IT products · Scribona Brand Alliance - exclusive agent for leading brand suppliers Address: Scribona AB, Sundbybergsvägen 1, Box 1374, SE-171 27 SOLNA. The company's registered office is located in Solna, Sweden. ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: