Eltek announces Q4 guidance for Eltek Valere and retains strategic financial advisors
(Thomson Reuters ONE) -
Eltek ASA ("Eltek") today offers guidance on revenue and operating results in
the fourth quarter 2010 for Eltek Valere, which comprises the main part of the
continuing business in Eltek. The Board of Directors has retained strategic
financial advisors to assist in the evaluation of Eltek's strategic
opportunities following the divestment of Nera Networks.
On a preliminary, unaudited basis, Eltek Valere reports expected revenue in
excess of NOK 925 million for the fourth quarter 2010, which is ahead of both
the fourth quarter 2009 and the previous quarter. Gross margin in Eltek Valere
continues to develop positively. Operating profit (EBIT) for Eltek Valere is
expected to exceed NOK 75 million in the fourth quarter. This represents a
marked increase from the fourth quarter 2009 and the third quarter 2010. Order
entry was strong in the fourth quarter, and will also show positive development
from the fourth quarter in 2009.
The Board of Directors has retained Lazard AB and Arctic Securities ASA to
assist in the evaluation of strategic opportunities following the successful
divestment of Nera Networks.
It is important to recall that certain liabilities and accounting treatments of
the Company's sale of Nera Networks in early January must still be considered.
Please refer to the announcement made January 19 for further details. Eltek
will present the interim results for the fourth quarter and full year 2010 on
February 22, 2011. NeraTel, which is 50.1% owned by Eltek, will announce their
fourth quarter and full year 2010 on February 10, 2011. Eltek will also
organize a capital markets day in the early Spring to discuss the Company's
strategic direction.
For further information, please contact:
CEO Jørgen Larsen, Eltek ASA, tel: +47 905 27 930
CFO Pål Skistad, Eltek ASA, tel: +47 908 50 378
About Eltek ASA:
Eltek is a strategic technology partner within power solutions and microwave
radio transmission, through its two business units Eltek Valere and Nera
Telecommunications (NeraTel). The Company reported revenue of NOK 5.8 billion
in 2009, and had close to 3,300 employees in more than 50 countries at the end
of 2009. Following the divestment of Nera Networks, Eltek is focused on its
core business in telecom power and power electronics solutions for industrial
applications and renewable energy markets such as solar power and electric
vehicles. Eltek is listed on Oslo Stock Exchange and headquartered in Drammen,
Norway.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Eltek ASA via Thomson Reuters ONE
[HUG#1484946]
Unternehmensinformation / Kurzprofil:
Datum: 03.02.2011 - 08:31 Uhr
Sprache: Deutsch
News-ID 51024
Anzahl Zeichen: 3476
contact information:
Town:
Drammen
Kategorie:
Business News
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