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Non-Tech : Printing & Printing Technology
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From: richardred11/7/2006 8:09:33 AM
   of 64
 
Heidelberger Druckmaschinen: 2Q Earns Up
Tuesday November 7, 7:24 am ET
Heidelberger Druckmaschinen Says 2nd-Quarter Profit Almost Doubled

HEIDELBERG, Germany (AP) -- Printing press maker Heidelberger Druckmaschinen AG said Tuesday that its fiscal second-quarter profit almost doubled after printers in Germany and the U.S. accelerated investment.

The stock dropped 5 percent to euro34.93 (US$44.40) in Frankfurt as the market was disappointed with the results.

Net income rose to euro63 million (US$80.08 million) in the three months through Sept. 30 from euro32 million in the same period a year earlier, the company said in a statement. The company also booked a euro25 million (US$31.8 million) gain from the sale of Linotype GmbH.

Sales increased 4.6 percent to euro908.8 million (US$1.16 billion).

Heidelberger is seeking to make annual cost savings of up to euro100 million (US$127.1 million) through to 2008. The program aims to secure jobs, lower personnel costs and improve competitiveness.

In September the company presented two new Suprasetter printers.

"The improvement in results in the first half-year shows that Heidelberg has made further progress towards improving its profitability," said Chief Financial Officer Dirk Kaliebe. "The launch of new products and measures to improve competitiveness have made their mark on results."

biz.yahoo.com
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