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Electronics Production | November 21, 2008

Elcoteq not to lower forecast

The Estonia based EMS provider announced that it does not see any need to change the forecast that it made in its last fiascal report.
"We are sticking to the guidance in our third-quarter report," Elcoteq CFO Mikko Puolakka twas cited in a Reuters report in saying. Demnad has not crumbled for the company so far and is in accordance with Elcoteqs projections.

In October, Elcoteq had stated in theri 3Q fiscal report that full-year net sales are expected to be at lower level than in 2007. However, the current forecast is for operating income to improve substantially in 2008 compared to 2007. Fourth quarter net sales are expected to be higher than in the third quarter of 2008.

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