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Biotech / Medical : Trickle Portfolio -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (1090)	3/12/2002 7:09:15 PM
From: tuck	Read Replies (1) \| Respond to of 1784

Probably CRS' last earnings report as an independent company: >>BURLINGTON, Ontario--(BW HealthWire)--March 12, 2002--CRS Robotics Corporation (TSE:ROB - news) announced sales for the twelve months ended December 31, 2001 were $28.1 million or 36.5% ahead of the prior year. This is an all time record for the company. The full year effects of Robocon are included in the results and are equal to 28% of the year over year increase. Cash operating earnings(a) increased to $1.8 million an increase of 2% from 2000 levels and again a new record for the company. Earnings per share on a cash operating basis were 18 cents for the year 2001 versus 20 cents for 2000, on average shares outstanding of 9.9 million an increase of 12.3%. Ralph Steedman President & CEO of CRS said, `` I am extremely proud of our entire staff for achieving such excellent results in a year of significant challenges for the company. We successfully integrated a major acquisition, increased our R&D spending in a buildup to a very successful launch in January 2002 of our industry leading software and hardware automation tools and finally meeting the unprecedented events of September and their resultant impact on all economic activity. I am looking forward to an even better year in 2002.'' A summary of results are set out below (000's except per share amounts): -------------------------------------------------------------- Twelve Months Ended December 31 -------------------------------- 2001 2000 % Change -------------------------------------------------------------- Revenue $ 28,108 $ 20,597 36.5 -------------------------------------------------------------- Gross Profit $ $ 12,253 $ 8,951 36.9 -------------------------------------------------------------- Gross Profit % 43.6 43.5 - -------------------------------------------------------------- Cash Operating Earnings $ 1,773 $ 1,745 1.6 -------------------------------------------------------------- Net Income before Goodwill Amortization $ 1,044 $ 1,288 (18.9) -------------------------------------------------------------- Goodwill Amortization $ 1,207 $ 410 194.0 -------------------------------------------------------------- Net Income $ (163) $ 878 - -------------------------------------------------------------- Earnings Per Share after Goodwill Amortization $ (0.02) $ 0.10 - -------------------------------------------------------------- Earning Per Share Cash Operating Earnings $ 0.18 $ 0.20 (10.0) -------------------------------------------------------------- Basic Weighted Average Shares Outstanding 9,930 8,846 12.3 -------------------------------------------------------------- Gross profit dollars increased 36.9% to $12.3 million over the previous year and gross profit percent improved slightly to 43.6%. Higher investments in Research and Development and sales/marketing activities reduced net income, before goodwill charges, by 18.9% from the year 2000. The company experienced a slowdown in bookings for the fourth quarter as customers delayed their capital expenditure decisions. Dr. Hansjoerg Haas, Senior Vice President, Global Sales stated, ``Activity was slow in the fourth quarter but we are experiencing renewed interest for our products and services and I fully expect that booked orders in the first quarter of 2002 will be at record levels. Our sales pipeline is very strong and we are beginning to take orders for our new Dimension4 product line.'' Core competencies for CRS include integrated lab automation solutions using advanced software in biotechnology and pharmaceutical research applications marketed worldwide. In addition, CRS manufactures and supplies robotic systems for advanced manufacturing niche markets. CRS is headquartered in Burlington, Ontario and has subsidiaries in the United States and Europe. Further information can be found on the company's web site at www.crsrobotics.com. (a) cash operating income is before deducting the costs of depreciation, goodwill amortization, interest and taxes-otherwise known as EBITDA.<< snip Cheers, Tuck