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Electronics Production | February 09, 2007

Kitron turns to profit and increases its sales

Kitron achieved increased revenue and profitability in the fourth quarter 2006. Following this year's completion of the restructuring resolved in 2005, quality indicators are improving.
Kitron expects to capitalize from this position by a further strengthening of ongoing customer relationships and maintain a strong order intake position. Improved capacity utilisation in a strong market forms a good basis for revenue growth and stable margins ahead.

Kitron's profit before taxes reached NOK 18.1 million (NOK -50.0 million including restructuring provision of NOK 49.5 million) in the fourth quarter, and NOK 45.4 million (NOK -58.2 million including restructuring) in the year.

Kitron's revenue increased 16 percent to reach NOK 514.8 million (NOK 443.5 million) in the quarter, and NOK 1 693.6 (NOK 1 576.3) for the year.

Gross margin were 40.1 per cent (39.5 per cent) in the quarter and 40.0 per cent (40.3 per cent) in the year.

Kitron's operating profit improved as EBITDA and EBIT were NOK 32.5 million (NOK -37.5 million) and NOK 23.9 million (NOK -44.7 million) respectively. In 2006 EBITDA and EBIT were NOK 93.8 million (NOK -2.6 million) and NOK 64.4 million (NOK -35.4 million) in the quarter.

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