EB, ELEKTROBIT CORPORATION, LOWERS PROFIT GUIDANCE FOR THE FIRST HALF OF 2011
(Thomson Reuters ONE) -
STOCK EXCHANGE RELEASE
Free for publication on March 29, 2011, at 5.30 p.m. (CEST+1)
EB, ELEKTROBIT CORPORATION, LOWERS PROFIT GUIDANCE FOR THE FIRST HALF OF 2011
EB expects a clearly negative operating profit for the first half of 2011. It is
expected that the operating result during the second quarter of the year will be
better than during the first quarter of the year. EB still expects that net
sales in the first half of 2011 will be lower than in the first half of 2010
(EUR 86.2 million). Earlier in the Financial Statement Bulletin on February
17, 2011, EB announced for the first half of 2011 that it expected net sales to
be lower than in the first half of 2010 (EUR 86.2 million) and operating profit
to be lower than in the first half of 2010 (EUR 1.8 million).
The main reason for the revised profit outlook is a lowered revenue forecast in
the Wireless Business Segment due to slower than expected order book development
in the new satellite communication service solutions and due to increased
competition in the area of smart phones related R&D services. The revenue
forecast still contains uncertainties in particular with respect to the timing
of individual projects.
The profit outlook for the first half of 2011 is still based on the assumption
that there will not be further bookings of impairments of EB's accounts
receivables from TerreStar Networks Inc. It is possible that based on later
information related to TerreStar Networks' and TerreStar Corporation's
reorganizations, this outlook may need to be reconsidered. Information on
TerreStar Networks' and TerraStar Corporation's reorganizations are presented in
the October 20 and 25, November 20, December 30, 2010, and February 17, 2011,
stock exchange releases at www.elektrobit.com.
EB will release the January-March 2011 Interim Report on April 29, 2011.
Oulu, March 29, 2011
EB, Elektrobit Corporation
Board of Directors
More information:
Jukka Harju
Chief Executive Officer
Tel. +358 40 344 5466
Distribution:
NASDAQ OMX Helsinki
Major Media
EB, Elektrobit Corporation
EB creates advanced technology and turns it into enriching end-user experiences.
EB is specialized in demanding embedded software and hardware solutions for
wireless and automotive industries. The net sales for the year 2010 totaled MEUR
161.8. Elektrobit Corporation is listed on NASDAQ OMX
Helsinki.www.elektrobit.com
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Source: Elektrobit Oyj via Thomson Reuters ONE
[HUG#1501387]
Unternehmensinformation / Kurzprofil:
Datum: 29.03.2011 - 16:30 Uhr
Sprache: Deutsch
News-ID 52922
Anzahl Zeichen: 3391
contact information:
Town:
Oulu
Kategorie:
Business News
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