PPicogiga: Very Strong Revival in 1999 Towards Tripling the Capacities In 2000
Turnover increased steadily throughout 1999 reaching a record in the fourth quarter of FRF 23.2 million (3.5 million euros), an increase of 60% compared to the same period in 1998. This strong acceleration in turnover has offset the slow start during the beginning of the year. The turnover for the whole of 1999 is FRF 72.7 million (11.1 million euros), an increase of 12%. The net consolidated unaudited profit was FRF 6.8 million (1.04 million euros), 2.5 times the 1998 profit. The profit EBITDA reached FRF 24.7 million (3.77 million euros) for the year, an increase of 35%, allowing the company to eliminate all debt at the end of the year.
An important capital expenditure program has been undertaken including the building of new clean rooms and the purchase of new production and quality control equipment. This program will double the production capacity by June 2000 and triple it by the end of the year. In parallel, PICOGIGA is pursuing its R&D efforts on new products.
Chairman Linh Nuyen says: "In 1999, the increase of net profit is spectacular. This is the result of an excellent production costs control and makes us confident in the race of reducing costs and so gaining market shares. In 1999, we realised 35 % of our turnover in defence and space and 58 % in wireless. Due to the very high potential of the wireless market, we anticipate significant growth in this sector. Year 2000 looks promising with a FRF 23 million backlog, an increase of more than 50 % compared to last year. The needs expressed by our customers in wireless are sufficiently high to engage investments to triple our production capacity by the end of the year. Last October we announced the purchase of two new generation production lines. This number will soon be increased , and justifies the construction of new clean rooms in the other wing of our facility which was planned for this purpose. This new capacity will enable us to respond to the growth of the market."
Linh Nuyen adds: " We have always given top priority to quality for the complete satisfaction of our customers. Our strong presence in the USA (69% of our sales) and Japan (14%) is a testimony to our leadership position in quality. We shall take the next steps of our expansion with the same spirit."
Contact:
Linh T. Nuyen, President
Tel: +33 1 69 31 61 00;
Fax: +33 1 69 31 61 78
E-mail: picogiga@worldnet.fr
Shareholders information: Tel: +33 1 69 31 61 14
Tel: +33 1 69 31 61 00;
Fax: +33 1 69 31 61 78
E-mail: picogiga@worldnet.fr
Shareholders information: Tel: +33 1 69 31 61 14
E-mail: picogiga@worldnet.fr
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