Scanfil EMS reports Q3 sales decrease

Third-quarter sales for Scanfil decreased by 18% compared to the same period last year. The downward turn was due to a decline in the demand for telecommunications products and for professional electronics products related to renewable energy, the company said. Sales of professional electronics products nevertheless increased YoY by some 33% in January-September. Professional electronics customers accounted for 60% of total sales in January–September (49% during the corresponding period in 2010) and telecommunications customers for 40% (51%). The turnover of contract manufacturing operations in January-September was EUR 172.0 (157.2) million, up 9.4% YoY. Operating profit during the period under review was EUR 10.0 (8.1) million, representing 5.8% (5.1%) of turnover. The result amounted to EUR 6.3 (5.0) million, or 3.7% (3.2%) of turnover.