HELSINKI, Finland, March 4, 2004 (PRIMEZONE) -- Proha Plc:
-- The Proha Group's net sales in 2003 were EUR 76.8 (100.8 in 2002)
million.
-- Decline in net sales compared with 2002 was mainly due to a
decline in the US net sales, the appreciation of the euro and
the sales of non-core operations in 2002.
-- Earnings before goodwill amortization (EBITA) totaled EUR -4.0
(2.6) million.
-- The Group's performance was adversely affected by the lower-
than-expected sales and operating result in the United States.
The operating result includes EUR 1.0 (0.0) million of non-
recurring reorganization charges and a EUR 0.5 (3.7) million
gain on the sales of shares and business operations.
-- Artemis 7 and Artemis Views 7 product releases succeeded as planned.
-- Patrick Ternier was appointed the new president and CEO of the
Artemis sub-group in January 2004.
-- Measures to adapt the Artemis sub-group's cost structure will
focus on the first quarter of 2004.
-- Proha management expects the Group's profitability to improve in
2004 particularly as a result of cost savings in general and
administrative expenses.
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