Analytik Jena lowers earnings. (Executive Briefing).Jena Jena (yā`nä), city (1994 pop. 100,090), Thuringia, E central Germany, on the Saale River. Manufactures of this industrial center include pharmaceuticals, glass, and optical and precision instruments. , Germany Germany (jûr`mənē), Ger. Deutschland, officially Federal Republic of Germany, republic (2005 est. pop. 82,431,000), 137,699 sq mi (356,733 sq km). 11/18/02 -- Analytik Jena AG has announced that it is lowering its earning forecast for its fiscal year ended September 30, 2002 from EBIT EBIT See: Earnings Before Interest and Taxes EBIT See earnings before interest and taxes (EBIT). of 1.7 million [euro] to break even. The company cited an unexpected valuation adjustment related to its former Lab Solutions business unit. The business unit has been discontinued dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: , with the unit's laboratory assembly service unit spun off and its laboratory planning department integrated into the AJZ AJZ Alternatives Jugendzentrum (Germany) Engineering business. In addition, several of the unit's projects recorded high losses, leading to unanticipated depreciation and valuation adjustments. Also, Analytik Jena's international distribution and marketing efforts recorded higher than expected costs, especially for its Japanese and Middle Eastern efforts. The company's rapid expansion this year boosted sales but has also increased costs. However, the company states that its international distribution efforts are expected to pay off with 60 million [euro] in sales for the year. |
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