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Electronics Production | May 01, 2008

Volume slowdown hurt Cofidur Q1 results

The turnover of Cofidur in the first the first quarter of 2008 amounted to 27.1 Million Euros, a decline of 24% compared to the same period 2007.

This is due to the sharp slowdown in the production of large volumes caused by halting of the production of ADSL terminals. Net income for the quarter reached 0.23 Million Euros. Cofidur said that the production of some new terminals is underway, but the bulk will be shipped during the second and the third quarter 2008 turning around the large volume activities. The establishment of a service unit for Alcatel in Cherbourg which Cofidur took over from Sanmina-SCI, is expected to generate around 4 Million Euro in 2008. Cofidur believes it will grow its turnover by 5% in the full year of 2008 compared to 2007.
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