Elektrobit presents weak results

Earlier, the company estimated the net sales for the year 2006 to be between EUR 180-190 million. The whole-year operating profit was expected to be slightly negative. The Continuing Operations operating loss was EUR -3.0 million, or -1.7% of the net sales. The net profit of the Network Test business sale was EUR 73.2 million. Elektrobit's strategy was redefined during spring 2006. The new strategy of Elektrobit was formulated as one which focuses on the Wireless Communications Solutions and Automotive Software Business Segments. The former Business Segment was defined to include R&D services, advanced mobile terminal reference designs and mobile WiMAX radio base station business. The Network Test, System Test and Production Solutions Business Units were defined to form the Test and Automation Business Segment and were chosen to be developed separately. It was announced that Elektrobit will be seeking industrial partners to further strengthen the long-term competitiveness of the Test and Automation Business Units, with possibly different long-term solutions for each of them individually. Click here to read the full report.