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Electronics Production | February 09, 2006

Kitron is still in the red

The Norwegian EMS provider Kitron is still in the red despite the investment round.
The Norwegian EMS provider Kitron hopes that the restructuring and the cut- backs of the business will lead to annual savings of about 6.4 MEUR. It is yet to be seen if the company will manage to reach the black figures again but for the full-year 2005 Kitron reports a net loss of nearly 4.4 MEUR (-6.7 MEUR). To the books an investment round that brought in about 5,6 MEUR should be added.

Costs of onetime-character at 6.7 MEUR charged to the fourth quarter's results which resulted in a net loss for the fourth quarter of nearly 5.6 MEUR.

For the full year the company's turnover went down from 218.5 MEUR to 197 MEUR. The company's operating income for the fourth quarter went down 3.8% which could be explained by a downturn in demand for certain customers.

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