Eden Prairie, Minn., October 23, 2001 - Kontron Mobile Computing, Inc. (OTC BB: KMBC), formerly FieldWorks, Inc., today announced results for third quarter 2001. Kontron Mobile Computing is a leading supplier of rugged, mobile computing equipment to the U.S Army and other defense, public safety and commercial customers.
The company reported third quarter sales of $3.2 million compared to $3.4 million for third quarter 2000. Operating profit was reported as $250,053 compared to a loss of $6.6 million for third quarter 2000.
The company reported a loss of $0.02 per share and a net loss of $304,303 for third quarter, compared to a loss of $0.82 per share and a net loss of $7.3 million in third quarter 2000.
"I´m pleased to report that we´ve weathered a challenging quarter and emerged a stronger company," said Thomas Sparrvik, president and CEO. "During the quarter, we retired a significant amount of debt and paid a final, one-time brokerage payment relating to recent corporate transactions. Although third quarter revenues were weaker than we´d hoped, we´ve dramatically improved our overall condition from that of a year ago and I´m pleased with our positive operating income.
"We now prepare to meet what we expect will be increased demand for our products both in the short term and the long term," Sparrvik added. "At this time, we especially look forward to serving our defense and public safety customers as we work to help create a safer world."
Sparrvik attributed weakness in third quarter revenues, in part, to a temporary lag in new orders received on and following Sept. 11, 2001. Year-to-date revenues were $13.1 million -- an 11 percent increase compared to the same period in 2000.
During the quarter, the company repaid $3 million to note holders from debt refinancing received in September 1999. Due to this repayment, Sparrvik said, financing expenses for the remainder of 2001 will decrease by approximately 50 percent.
About Kontron Mobile Computing
A Minnesota corporation, Kontron Mobile Computing, Inc. (formerly FieldWorks, Inc.), has designed, manufactured and marketed rugged computers for a variety of industries and applications worldwide since 1992. It also provides product customization, integration and support services. The company is headquartered in Eden Prairie, Minn., with sales, service and manufacturing locations worldwide. It is traded on the U.S. Over the Counter Bulletin Board under the ticker symbol KMBC.
Kontron Mobile Computing is the mobile computing affiliate of Kontron Embedded Computers AG, Munich, Germany. For more information, visit Kontron Mobile Computing online at www.kontronmobile.com, or phone the company toll-free at 1-888-343-5396.
About Kontron Embedded Computers AG
Kontron Embedded Computers AG, Munich, Germany, is one of the world´s largest manufacturers of embedded computing solutions, supplying leading OEMs, systems integrators and application providers in the communications, automation and mobile markets.
The Kontron group of companies includes:
Kontron Mobile Computing, Inc. (formerly FieldWorks, Inc.), Eden Prairie, Minnesota (mobile computing competence center); Teknor Applicom Inc, Montreal, Canada (communications competence center); PEP Modular Computers GmbH, Kaufbeuren, Germany (automation competence center); TMC Ltd., Taipei, Taiwan (operations center for Asia-Pacific region)
Kontron Embedded Computers AG is publicly traded on the German Neuer Markt stock exchange under symbol "KBC."
Forward-looking statements in this news release, if any, are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by the statements, including the impact of changing economic or business conditions, the impact of competition, the availability of financing, the success of products in the
marketplace, other risk factors inherent in the computer industry and other factors discussed from time to time in reports filed by the Company with the Securities and Exchange Commission.
Kontron Mobile Computing´s headquarters are at:
7631 Anagram Drive, Eden Prairie, MN 55344
Internet Address: www.kontronmobile.com;
Telephone: (952) 974-7000
Fax: (952) 974-7199