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Leica records new losses

Leica is a major supplier of surveying equipment

(Keystone Archive)

The Swiss surveying systems maker, Leica Geosystems, has posted a loss of SFr5.25 million ($3.37 million) for the year 2001/2.

The figure was an improvement on the previous year, when the company posted losses of nearly SFr8 million.

In a statement, Leica said much of the loss stemmed from its write-off of SFr58 million of goodwill from Cyra, an American laser technology and software concern it acquired in 2000.

Leica also incurred SFr4.7 million in costs related to its current "Fit - together" savings programme, which involves cutting 150 jobs.

The company said net income would have been SFr7.4 million had such costs not been taken into account.

Sales for the year increased by 23 per cent to just over SFr790 million, while earnings before deductions totalled SFr97.3 million. The company said the figures corresponded to previously announced targets.

Leica warns that first-quarter figures for 2002 are likely to be lower than in previous years, but the company expects business to pick up in the second quarter, with a significant increase in sales later in the year.

swissinfo with agencies


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