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© Kitron Electronics Production | February 09, 2011

Kitron: Negative result, but increase in revenue

EMS-provider Kitron's revenue amounted to NOK 455.2 million in the fourth quarter of 2010, a 7.4% increase compared with the same period last fiscal year.

EBIT was negative by NOK 13.6 million (NOK 15.8 million) due to the booking of NOK 27 million in provisions in Kitron AB. The loss before tax and discontinued operations was NOK 18.8 million (NOK 12.8 million profit in Q4 2009). Cash flow from operations was positive by NOK 38.7 million (NOK 62.3 million). The order intake was NOK 443.2 million and the order backlog was NOK 836.1 million, a decrease of 2.5%t and an increase of 5.1% respectively. Order development stable The order intake decreased by 2.5% to NOK 443.2 million (NOK 454.7 million). The order backlog at the end of the fourth quarter was NOK 836.1 million (NOK 795.8 million), 5.1% higher than last year. Activity level increasing Revenue increased by 7.4% to NOK 455.2 million (NOK 423.9 million) amid the difficult component situation. Operating profit negative due to booking of restructuring provision EBITDA and EBIT were negative by NOK 6.2 million (NOK 23.0 million profit) and NOK 13.6 million (NOK 15.8 million profit) respectively due to the booking of NOK 27 million in provisions related to Kitron AB in Karlskoga. Profit (loss) before tax and discontinued operations The loss before tax and discontinued operations amounted to NOK 18.8 million (NOK 12.8 million profit). Cash flow Cash flow from operations in the fourth quarter was positive by NOK 38.7 million (NOK 62.3 million) due to working capital improvements. ----- Note: Figures in brackets refer to the fourth quarter of 2009 unless otherwise stated.
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