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Electronics Production | November 07, 2007

Incap lower revenue in first 9 months

Finland based EMS provider Incap has announced its results for January – September 2007. Revenue was EUR 56.7 million (Jan.-Sep. 2006: EUR 65.3 million). Operating profit was EUR 1.7 million negative (3.2 million positive).
Net profit for the report period amounted to EUR 2.6 million negative (3.6 million positive). Earnings per share were EUR 0.21 negative (0.30 positive). Revenue developed favourably after the sharp decline in the early part of the year but fell short of the targets. Costs related to internationalisation burdened the result.

Juhani Hanninen, President and CEO of Incap Corporation: "Third-quarter revenue improved on the previous quarters but this was not enough to compensate for the sharp decline in demand for telecommunications products in the early part of the year.

The launch of operations in India was an important milestone in the company's internationalisation according to strategy, and acquisition of new customers in India has progressed well. “Our crucial objective is to improve profitability and secure positive earnings development next year.", Juhani Hanninen said.

Incap's customers mostly forecast that their business will develop favourably. However, market visibility is very short.

Incap expects that revenue in the final quarter of the year will be higher than in the third quarter. The Group's full-year revenue in 2007 is forecast to be clearly lower than in 2006. Full-year operating profit is estimated to be clearly negative.

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