Lambda Physik Sales Drop, Reports Loss

July 9, 2003
Göttingen, Germany, July 9, 2003. Lambda Physik AG reported preliminary sales and bookings for the third quarter and the first nine months of FY 2003. For the quarter, sales decreased to approximately EUR 14 million, compared to EUR 21.1 million (minus 34%) in the prior year quarter and to EUR 23.1 million in the prior quarter (minus 39%). Despite the initiated cost reductions earnings in Q3/2003 will be negative.

Göttingen, Germany, July 9, 2003. Lambda Physik AG reported preliminary sales and bookings for the third quarter and the first nine months of FY 2003. For the quarter, sales decreased to approximately EUR 14 million, compared to EUR 21.1 million (minus 34%) in the prior year quarter and to EUR 23.1 million in the prior quarter (minus 39%). Despite the initiated cost reductions earnings in Q3/2003 will be negative. For the nine months, preliminary sales decreased to approximately EUR 61 million, compared to EUR million 72.2 million in the prior year period (minus 16%).

In addition to the continued weak lithography market, the industrial business suffered a strong decline, caused by a weak Asian market environment and reinforced by SARS. The contribution of Lambda Physik's subsidiary MicroLas to the industrial business was also distinctively below the forecasted level. Also, medical sales remained on an unsatisfactory level. Bookings were low due to the continued weakness in all target regions and applications of Lambda Physik.

For the quarter, bookings were at approximately EUR 15 million, below the already unsatisfactory level of the prior quarter of EUR 16.9 million. Compared to the prior year quarter bookings of EUR 29.5 million incoming orders nearly halved.

The final results for the third quarter and nine months of FY 2003 will be published on July 23, 2003, together with an outlook on the business development.


For more information, visit www.lambdaphysik.com

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