CE ends year on upside
Consumer Electronic AG, an independent distributor based in Munich, Germany, posted strong fourth-quarter and year-end results for 1998. Revenue for the fiscal year increased to DM46.1 million ($25.9 million) from DM10.8 million ($6.1 million) in fiscal 1997.
Profit from normal business activities grew to $4.6 million from $2.2 million, the previous year, the company said. CE added that its year-end order backlog increased to a company record $6.2 million.
"We have a strong start to the new fiscal year, 1999, with the wind at our back," said chairman Erich J. Lejeune. In the semiconductor market, he said, prices and revenue are "showing positive signs."
CE has also benefitted from the Virtual Chip Exchange (VCE), which the company co-founded with Mediagrif, a Canadian electronic-commerce software company. More than 500 CE customers are currently using the Internet-based trading system during a free trial period, which ends this month.
CE said its stock will be listed on the Neuer Markt Stock Exchange in Frankfurt. The company is also reviewing a listing on the NASDAQ exchange in the United States.
NECX Web site ranked No. 1
Binary Compass Enterprises has ranked NECX, Peabody, Mass., as the highest-rated online merchant for computer products and accessories. NECX (www.necx.com) earned the No. 1 ranking on Binary Compass' BizRate (www.bizrate.com) list of 43 online-merchant Web sites.