Kitron: Positive profitability trend
(Thomson Reuters ONE) -
(2011-07-21) Kitron's revenue amounted to NOK 430.7 million in the second
quarter of 2011, a 1.2 per cent increase compared with the same period last
year. EBIT was NOK 13.8 million (NOK 4.5 million). The profit before tax and
discontinued operations was NOK 8.3 million (NOK 1.7 million). Cash flow from
operations was NOK 32.4 million (negative NOK 13.7 million). The order intake
was NOK 395 million and the order backlog was NOK 781.4 million, a decrease of
22 per cent and 10 per cent respectively.
Enclosed in pdf are the interim report and the presentation.
Key items second quarter 2011
Figures in brackets refer to the second quarter of 2010 unless otherwise stated.
Shorter order lead times
The order intake decreased by 22 per cent to NOK 395 million (NOK 507.8 million)
as several customers reduce the order lead times following a normalisation of
the component market. The order backlog at the end of the second quarter was NOK
781.4 million (NOK 867.7 million), 10 per cent lower than last year.
Activity level increasing
Revenue increased by 1.2 per cent to NOK 430.7 million (NOK 425.7 million).
Higher operating profit
EBITDA and EBIT were NOK 22.5 million (NOK 12.4 million) and NOK 13.8 million
(NOK 4.5 million) respectively mainly due to improved performance in the Swedish
operation.
Improved profit before tax
The profit before tax and discontinued operations amounted to NOK 8.3 million
(NOK 1.7 million) which reflects a margin of 1.9 per cent (0.4 per cent).
Cash flow improving
Cash flow from operations in the second quarter was NOK 32.4 million (negative
NOK 13.7 million) due to positive changes in working capital.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
Kitron Q2 report:
http://hugin.info/197/R/1532660/466767.pdf
Kitron presentation Q2 2011:
http://hugin.info/197/R/1532660/466763.pdf
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: Kitron ASA via Thomson Reuters ONE
[HUG#1532660]
Unternehmensinformation / Kurzprofil:
Datum: 21.07.2011 - 15:10 Uhr
Sprache: Deutsch
News-ID 56610
Anzahl Zeichen: 2763
contact information:
Town:
Oslo
Kategorie:
Business News
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