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Datalogic (Star: dal.mi): board of directors approves quarterly interim report as of 31 march 2008

Bologna, 14th May 2008 - The Board of Directors of Datalogic S.p.A. - a company listed in the Star segment of the Milan Stock Exchange, operating in the design, production and distribution of barcode reader systems and RFID (radio frequency identification devices) - approved the quarterly interim report as of 31st March 2008.

1Q08 ended with consolidated sales revenues of € 96 million (mn), down by 7.7% vs. € 104.1 mn for the same period in the previous year (1Q07) due to unfavourable trend of USD. With constant euro/usd exchange rates, the reduction would have been approx. 3%.

We would like to recall that the first quarter of 2007 was particularly positive in terms of revenues as the Company planned the start-up of a significant reorganization on April 2nd and, with the aim of minimizing possible inefficiencies for customers, many orders, originally requested for April, were filled in March. During April of this year sales were equal to € 29 mn, up by 37% versus € 21.2 mn achieved in the same month of 2007). With constant exchange rates Euro/Usd, the growth would have been equal to 49%.

Sales revenues recorded in the first fourth months of this FY amounted to € 125 mn, in line with € 126 mn for the same period in 2007. With constant exchange rates Euro/Usd, the growth would have been approx. 5%.

EBITDA of € 11.6 mn (-17% vs € 14 mn at 31st March 2007) and EBITANR of € 8.7 mn (-20.7% vs. € 10.9 mn for the same period in previous year).

Consolidated net profit of € 4.30 mn in the first three months of the year (in line with € 4.31 mn at 31st March 2007).

The separate business Divisions’ sales (including intersegment sales) and segment results (before non-recurring costs/revenues and depreciation and amortization due to acquisitions), for the first quarter of 2008 (in Euro million), are listed below:

Divisioni     Sales     Segment results
Datalogic Mobile   21.96   1.18
Datalogic Automation   19.68   0.66
Datalogic Scanning   45.36   2.88
Business Development   11.55   2.02
Datalogic S.p.A.   5.20   1.73
Unallocable costs/adj.   (7.73)   0.2
January - March 08   96.2   8.67

 


Unfortunately, reliable reclassification of 1Q07, on the basis of the new Divisions of the Group, was not possible.

At 31st March 2008, the net financial position of Datalogic was negative by € 69.4 mn, an increase both in comparison to its position at 31st December 2007 (negative by € 62.5 mn) and at 31st March 2007 (negative by € 54 million).

We would however point out that, in the first quarter of the year, treasury shares were bought for approximately € 7.6 mn. If treasury shares were included, the net financial position at 31st March 2008 would be negative by € 33.5 mn.

Please note that the Quarterly Report at 31 March 2008 is unaudited. It should also be pointed out that the attached income statement and balance sheet are reclassified statements and as such are not subject to checking by the auditors.

The manager responsible for preparing the company’s financial reports - Dott. Marco Rondelli – declares, pursuant to paragraph 2 of Art. 154-bis of the Testo Unico della Finanza, that the accounting information contained in this press release corresponds to the document results, books and accounting records.