Cameras

Leica Sales Up, No Thanks To Cameras

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*November 10, 2005 - *Sales during the first fiscal half for German manufacturer Leica went up by 6.7 percent to 48 million Euros ($56.4 million US), but its digital camera unit was not responsible. In fact, sales of compact digital cameras dropped 56 percent to 4.2 million Euros.

"In spite of the existential crisis Leica Camera Group went through in the months following the beginning of the fiscal year until the end of August, the Company’s sales have developed favorably," said Dr. Josef Spichtig, Chairman of Leica Camera AG’s Board of Management.

Leice camera systems however have done well, with a 30.5 percent growth largely attributable to the Leica Digital-Modul R digital back for 35mm SLRs. Some growth is also attributable to lens sales.

Leica has still reported a net loss, though the net loss at 4.6 million Euros was 62 percent smaller than the net loss of 7.4 million Euros from last year’s first fiscal half.

Spichtig indicated that the company’s finances had been stabilized and some restructuring was underway, and said, "we are tackling medium and long-term improvements."

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