French smart card manufacturer Gemplus International reported this morning a fourth quarter net loss of 60 million Euros compared to a profit of 40 million Euros for 4Q/00. French newspapers are also reporting that Gemplus may be cutting up to 1,000 jobs with more than 400 of the cuts being made at the Gemenos site. Gemplus said that despite stringent hiring and expense controls, the divestiture of non-core businesses and the commencement of a restructuring program in Q2 last year, the Company continues to have a cost structure that is too high for the current business environment. For the fourth quarter, Gemplus reported revenues of 251 million Euros, a decline of 35% from the same quarter one year ago. Revenue for 2001 was 1.023 billion Euros, down 15% from the previous year’s 1.205 billion Euros. Net loss for 2001 was 100 million Euros compared to a net profit of 99 million Euros for the year 2000. The company also announced today that CFO Steve Gomo will leave Gemplus in mid-March. For complete details on Gemplus’ 4Q/01 results visit CardData ([www.carddata.com]).