SMT & Inspection | April 02, 2009

IPTE issues profit warning for 1Q

IPTE expects it sales, as a consequence of the economic and financial crisis, to be down 20% to 30% compared to the €65 million of the 1st quarter 2008. Huub Baren: “The economic crisis is clearly hitting the electronics industry very hard. Sales to almost all customers are considerably slower".
In the second half of 2008, IPTE saw a downturn coming and had already taken measures to counter it. The decline the company is now seeing is turning out much stronger than it had expected. The Board of Directors has tasked management with examining all possible scenarios to guarantee the company's future profitability.

“The decline in sales will produce an undercoverage of costs in the first quarter. At the same time, a number of previously decided restructurings will take place during this period and will also impact the result. We are expecting an operating loss of EUR 1 to 2 million for the group in the 1st quarter.”


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