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PSI fuer Produkte und Systeme der Informationstechnologie AG Revises Q3, Q4 2013 and FY 2013 EBIT Guidance; Issues FY 2014 and FY 2015 EBIT Guidance Below Analysts' Estimates


Tuesday, 24 Sep 2013 01:52am EDT 

PSI fuer Produkte und Systeme der Informationstechnologie AG (PSI) announced that as a result of one-off encumbrances from past risks from 2009 and increased one-off expenditures for the development of an energy management system for rail electricity and the development of a transportation management system for logistics service providers, PSI expects a negative EBIT of – EUR 2.8 million in the third quarter of the fiscal 2013. For the fourth quarter of the fiscal year 2013, the Management Board now expects a positive result of EUR 4.5 million so that a positive EBIT of only EUR 5.2 million is expected for the entire fiscal year 2013. In view of the continuing lack of investment on the part of energy providers in Europe, the Management Board is reducing the EBIT planning for the subsequent years to EUR 12 million for the fiscal year 2014 and EUR 15 million for the fiscal year 2015. According to I/B/E/S Estimates analysts on average are expecting the Company to report EBIT of EUR 12.61 million for the fiscal year 2013, EUR 17.67 million for the fiscal year 2014 and EUR 21.93 million for the fiscal year 2015.