Bricsnet Announces Second Quarter 2002 Results


Total assets 14.335 19.446 39.745



Liabilities and
Shareholders' Equity

Current liabilities
Short-term debt 1.023 1.821 544
Accounts payable 953 3.907 2.119
Accrued expenses and
other current liabilities 1.637 4.184 3.676
Accrued taxes 40 40 40
Advance billings to customers - - 526
Deferred revenues 1.071 3.202 2.953
Total current liabilities 4.724 13.154 9.858

Long-term debt,
less current portion 10.736 8.949 1.339
Minority Interests 2.610 - -
Liabilities from
discontinuing operations 3.815 - -

Total liabilities 21.885 22.103 11.197

Shareholders' equity
Common stock, no par value 68.965 68.965 64.870
Additional paid-in capital 7.131 6.832 4.520
Accumulated deficit (82.887) (78.377) (40.745)
Cumulative translation
Adjustment (759) (77) (97)
Total stockholders' equity (7.550) (2.657) 28.548

Total Liabilities
and Shareholders Equity 14.335 19.446 39.745



BRICSNET NV
CONSOLIDATED STATEMENT OF OPERATIONS
in thousands of Euro
Six months ended
Q2 Q2 June 30
2002 2001 2002 2001
(unaudited)(unaudited)(unaudited)(unaudited)
Revenues
Licenses and products 117 1.005 369 1.366
Services and support 225 2.021 735 3.542
Content 71 1.276 162 3.482
Total revenues 413 4.302 1.266 8.390

Cost of revenues
Cost of licenses
and products 40 77 65 251
Cost of services
and support 142 957 338 1.612
Cost of content 38 101 41 656
Total cost of revenues 220 1.135 444 2.519

Gross Profit 193 3.167 822 5.871

Operating expenses
Research and development 611 1.198 1.507 2.723
Selling, general and
administrative expenses 1.178 4.224 2.692 7.866
Depreciation and
Amortization 218 1.540 1.071 3.071
Total operating expenses 2.007 6.962 5.270 13.660

(Loss) from continuing
operations (1.814) (3.795) (4.448) (7.789)

Other income
Financial income (expense)(188) (42) (368) (48)
Other income (expense) (21) 12 (49) 52
Foreign currency exc.
gain (loss) - (29) - (56)
Total other income (209) (59) (417) (52)

Net (loss) from
continuing operations (2.023) (3.854) (4.865) (7.841)

Income from discontinued
operations (including gain
on disposal of 253) (18) - 356 -

Net (loss) (2.041) (3.854) (4.509) (7.841)




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