COPENHAGEN, Denmark, Feb. 7, 2003 (PRIMEZONE) -- For 2002, Olicom's (Other OTC:OLCMF) net result was a loss of DKK 18.2 million ($2.6 million), which is in accordance with the previously announced expectations for 2002. The result of primary operations was a loss of DKK 39.5 million ($5.6 million), of which write-down of investments in portfolio companies amounted to DKK 22.8 million ($3.2 million). The result of discontinued business was a profit of DKK 15 million ($2.1 million), which primarily relates to the termination of lease commitments with lower costs than originally expected and the refund of customs duty.
Shareholders' equity at year-end was DKK 227 million ($32.1 million) corresponding to DKK 13.40 ($1.89) per share outstanding by the end of 2002.
The Company's cash position by the end of 2002 amounted to DKK 95 million ($13.4 million).
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