Kitron shows upturn

The result before taxes reached EUR 25 000 for Q2 2005. The company posted an operating result for the second quarter of EUR 806 000 which shows an increase of EUR 5.9M compared to the same quarter the year before. Another good news is that every single business unit posted results with profit. The turnover in the Norwegian business Kitron AS represented 68.5% of Kitrons total turnover. Kitron AS has started the production of RadioComponents new telecom product during the second quarter and the market potential for these products is considered as big. The business area Kitron Microelectronics has achieved an increase in turnover during the second quarter which was higher than expected. Kitron Microelectronics now represents 12% of the company's total turnover. Kitron Microelectronics has achieved status as Certified Luxeon Solutions Partner for development of a complete new generation enlightment solution with longer lifetime than today's products. This is expected to open for new markets within this business area. The turnover for Defence/Marine was during Q2 2005 in line with the same period 2004. Kitron is also counting on the yearly turnover to be in line with 2004. The company recieved one major order of EUR 3.6M from Kongsberg Protech AS and one order of EUR 5.5M from a larger company. The turnover for Data/Telecom has been low for Q2 2005. The reason to that is that a customer chosed to move it's manufacturing to Asia. The turnover for Medical Equipment is in line with the same period 2004. This market is at growth and Kitron recently recieved an order from CellaVision AB which lead to increased production in the company's facility in Flen, Sweden. Kitron also announced that two members of the board, Christian Bjelland and Annette Malm Justad, have resigned.