From: Jean Boullier <jean.boullier_at_wanadoo.fr>
Date: Tue, 27 May 2003 01:51:16 +0200

Since we are a non-profit unit I pass you some news from our "business
partner", painfully selected and translated from
Archos 2002 results published today (May 26).

Total revenue 2002 : 61.6 M¤, +55 %
Net result 2002 : -1.3 M¤ vs +3.3 M¤ for 2001
Revenue Q1 2003 : 10.1 M¤
Solid growth in Europe, weak picture in the US.

Operational costs 2002 : 19.4 M¤ +103 %
Gross profit 2002 : 28.8 % vs 35.9 % for 2001

Growth is sustained ny the MP3 and MP4 activities which account for 64
% and 21 % of the total revenue respectively and show the best gross
profit ratios.
Europe revenue : 46%; America : 54 %.

The lower gross profit ratio results from not-recurrent difficulties in
growth management on the US market

Net result has also been affected by the decrease of the US dollar ratio
against the euro, obviously..

2003 is expected to be good for growth and to show profits again. First
half (1/3rd of total yearly revenue) should be only slightly growing
with still a negative result while finishing to clean the situation in
the US unit. But the 2nd half should show a strong growth and come back
to good profit margins because of the launch of new major products
starting in June.

===>>> Archos will strenghten its leadership position with a totally
renewed MP3 Music range
and with the launch of the AV300 in the MP4 photo-video sector.

If you read French you can read the full report there Archos 2002
results (in French)
<http://www.boursorama.com/infos/actualites/detail_actu_societes.phtml?news=1208975&symbole=1rPJXR&p=1>


Stock has lost 16.87 % at 2.87 ¤ because of higher than usual
transactions on a usually very low level of activity (Archos is a small
business as you could see from the results). But the global financial
structure is still pretty good and the stock will probably recover in
the coming days or weeks...

I think that the Rockbox community may legitimately take its share of
the good results of the MP3 business. Unfortunately we may also
reasonably wonder on our ability to go on buying rockbox compatible
units in the (near?) future ?...

Cheers. Jean B.
Received on 2003-05-27