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News Article

Alcatel Optronics Posts Record Results for 4th Quarter and Full Year 2000

Source: Alcatel Optronics (abridged version)

PARIS. Alcatel Optronics (Paris:CGO.PA and NASDAQ:ALAO), a leading supplier of optoelectronic components, today reported 4th quarter and full year 2000 results, recording a full year sales increase of 144% to Euro 432.3 million over 1999. Sales for 4th quarter increased by 126% over the corresponding period in 1999.

``2000 has been a record year for Alcatel Optronics, said Jean-Christophe Giroux, CEO. ``We set very high objectives and we have achieved them. Revenue and profitability have both grown significantly. We ve been successful in moving up the vertical chain into integrated subsystems and in entering the passive market. We have leveraged our presence within our external customer base, which now represents over 30% of our sales. Our capacity has ramped up substantially and we will continue this effort throughout the year.

``Looking forward, we are still seeing strong demand across all product lines, driven by sustained growth in terrestrial and submarine D-WDM systems and the widening acceptance of Raman technology, which was pioneered by Alcatel Optronics. Today, I have no reason to believe that we will not meet our 2001 targets of growing sales faster than the market to a range of 60 to 65% and of improving our profitability. The first quarter will be a bit slower than average, nevertheless, we are anticipating a growth in sales close to 100% over the corresponding period last year.

4th Quarter

Sales for 4th quarter 2000 increased by 125.5% to Euro 146.1 million compared with Euro 64.8 million in 4th quarter 99. Gross profit amounted to Euro 50.9 million, representing a gross margin of 34.8% compared with 40.6% in Q4 99. This decrease is due in part to a change in product mix as well as a higher depreciation charge related to capex spending for capacity expansion. SG&A amounted to Euro 9.4 million or 6.4% of sales and included a charge resulting from the implementation of SAP software. R&D amounted to Euro 10.9 million or 7.5% of sales. Income from operations was registered at Euro 30.6 million representing an operating margin of 20.9%. Net income increased to Euro 17.0 million compared with Euro 11.2 million in 1999. Net income (pre-goodwill and R&D in process) amounted to Euro 19.3 million.

Full year 2000

Full year 2000 revenues increased by 144.1% to Euro 432.3 million compared with Euro 177.1 million in 1999. Gross profit amounted to Euro 155.5 million, representing a gross margin of 36.0% compared with 35.3% in 1999. SG&A amounted to Euro 24.3 million, or 5.6% of sales and R&D to Euro 36.1 million or 8.4% of sales. Income from operations amounted to Euro 95.1 million, representing an operating margin of 22.0%. Net income increased to Euro 37.5 million compared with Euro 16.1 million in 1999. Net income (pre-goodwill and R&D in process) amounted to Euro 61.9 million.

Sales to external customers in 2000 represented 33% of total revenues, compared with 18% in 1999.

About Alcatel Optronics

Alcatel Optronics designs, manufactures and sells high performance optical components, modules and integrated sub-systems for use in terrestrial and submarine optical telecommunications networks. Operating state-of-the-art manufacturing plants in North America and Europe, Alcatel Optronics is a leading supplier of DWDM lasers, photodetectors, optical amplifiers, high-speed interface modules and key passive devices such as arrayed waveguide multiplexers and Fiber Bragg Grating filters. It also has experience in integrating active and passive components and modules into sub-systems. The Optronics Division is part of Alcatel s Optics Group which comprises Alcatel s world-leading activities in optical networking, including submarine and terrestrial transmission systems, fiber optics and optical components. For more information, visit Alcatel Optronics on the Internet: www.alcatel.com/optronics

About Alcatel

Alcatel builds next generation networks, delivering integrated end-to-end voice and data networking solutions to established and new carriers, as well as enterprises and consumers worldwide. With 130,000 employees and sales of EURO 31 billion in 2000, Alcatel operates in more than 130 countries. For more information, visit Alcatel on the Internet: http://www.alcatel.com

``Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: This press release contains forward-looking statements relating to the Company s expectations for sales and profitability for 2001. Such expectations assume that (i) current market trends in sales will not change and operating profits will continue to improve, (ii) the Company will benefit from growth in the telecommunications market, (iii) the Company s sales volume will increase in several product markets, and (iv) customer spending patterns will not change. Unfavorable changes in the above or other factors listed under ``Risk Factors from time to time in Alcatel s SEC reports, including the Prospectus relating to the offering of Alcatel s Class O shares dated October 20, 2000 could materially affect Alcatel Optronics.

Upcoming Events/Announcements

April 26, 2001 First Quarter 2001 Earnings Release May 3, 2001 Annual Shareholders Meeting May 7, 2001 Dividend Payment Date July 27, 2001 Second Quarter 2001 Earnings Release October 31, 2001 Third Quarter 2001 Earnings Release

Contact: Alcatel (France) Klaus Wustrack / Alcatel HQ, +33 (0) 1 40 76 11 56 klaus.wustrack@alcatel.fr or Guy Mesquida / Alcatel Optronics, +33 (0) 1 64 49 49 03 guy.mesquida@alcatel.fr or Investor Relations and U.S./UK Press Contact Charlotte Laurent-Ottomane, +1. 703 715 3927/U.S. +33 1 40 76 13 30/France charlotte.laurent-ottomane@alcatel.fr

 

Alcatel (France)
Klaus Wustrack / Alcatel HQ, +33 (0) 1 40 76 11 56
klaus.wustrack@alcatel.fr
or
Guy Mesquida / Alcatel Optronics, +33 (0) 1 64 49 49 03
guy.mesquida@alcatel.fr
or
Investor Relations and U.S./UK Press Contact
Charlotte Laurent-Ottomane, +1. 703 715 3927/U.S.
+33 1 40 76 13 30/France
charlotte.laurent-ottomane@alcatel.fr
 
E-mail: charlotte.laurent-ottomane@alcatel.fr
Web site: http://www.alcatel.com
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