Norsk Data A/S, the ailing Oslo company which has kicked off the minicomputer vendor image and gone for the computer services and peripherals markets, has taken a $105m restructuring cost in the year to December 31, raising group net losses to just over $130m, from $22m in 1990, on revenues down 23% at $291m. The restructuring programme, announced with the company’s results for the first half of the year (CI No 1,758), has involved several hundred job losses – headcount standing at 1,797 at the year end, down from 2,579 at the end of 1990 – and the sale of Norsk’s headquarters, which the firm now leases from the freeholder. And the company has restructured its activities into autonomous subsidiaries in Scandinavia – ND ServiceTeam A/S, ND DataShop A/S, and Formula OpenSoft A/S – all divisions reported to have traded profitably in the fourth quarter. However, ND Comtec – the floundering computer-aided design activity that was supposed to be sold to Maxwell Communications’ QED Technology Ltd arm, until Maxwell’s administrators disallowed the transaction; and Norsk Data in Germany continued to show considerable losses in 1991. ND Comtec, which may still be sold if QED achieves a management buyout (CI No 1,841), has now been considerably reduced, its service and maintenance contracts now the responsibility of ND ServiceTeam. Trading losses and restructuring costs associated with ND Comtec in 1991 was $22m. In Germany, actions were taken by the year end to adapt the business to prevailing market conditions – including a 230 headcount reduction over the year. Germany’s losses were just under $30m, after restructuring costs. ND Partner Systemleverandor A/S’ association with Siemens-Nixdorf Informationssysteme (CI No 1,831), whereby Siemens-Nixdorf bought 80% of the venture, has given Norsk Data a profit of $7.9m above book value. The balance sheet at the year end was down by $163m to $209m; liquidity position was $38m and shareholder equity just under $10m. Orders taken were $153m, down from $209m in 1990.
