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PCB | August 10, 2010

Aspocomp net sales up in 1H/2010

PCB manufacturer Aspocomp reports net sales of EUR 9.8 million for the 1H/2010 (1H/2009: EUR 6.2 million).
Net sales & earnings in April – June
Second-quarter net sales amounted to EUR 5.4 million, up 90% on 4-6/2009. The five largest customers accounted for 82% of net sales (80%). In geographical terms, 96% of net sales were generated in Europe (80%) and 4% in Asia (20%).

The operating result was EUR 1.2 million (-0.9). The Group's net financial expenses amounted to EUR -0.3 million (-0.2). The result for the review period was EUR 0.9 million (-1.0) and earnings per share were EUR 0.02 (-0.02).

Net sales & earnings in January – June
1H/2010 net sales amounted to EUR 9.8 million, up 59% on 1-6/2009. The five largest customers accounted for 78% of net sales (76% 1-6/2009). In geographical terms, 93% of net sales were generated in Europe (81%) and 7% in Asia (19%).

The operating result was EUR 1.6 million (-1.2). Earnings improved thanks to better demand and the cost structure adjustments implemented in 2009. The Group's net financial expenses amounted to EUR -0.6 million (-0.4). The result for the review period was EUR 1.0 million (-1.4) and earnings per share were EUR 0.02 (-0.03).

Personnel
During the period, Aspocomp had an average of 97 employees (111). The personnel count on June 30, 2010 was 96 (106). Of them, 66 (72) were non-salaried and 30 (34) salaried employees.

Outlook for the future
Aspocomp's financial position is satisfactory. The lean cost structure and the outlook for operations in Oulu enable the continuity of the Group's operations.

As operations focus on prototypes and quick-turn deliveries, it is very difficult to forecast full-year net sales. Due to the improvement in demand, the net sales will increase significantly and the net result will be positive for full year 2010.

In addition to developing the continuing operations of the company, the Board of Directors is looking into various structural development solutions, including carrying out company reorganization in the future.

Due to the improvement in demand, the net sales will increase significantly and net result will be positive for full year 2010.

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