Elcoteq's net sales up 5% in Q2

Elcoteq's second-quarter net sales rose 5% compared with the same period last year and totaled 1,029.6 million euros (982.1 in April-June 2005). Second-quarter operating income was 12.2 million euros (15.9). Net sales between January and June rose 12% compared with the same period last year and totaled 2,010.7 million euros (1,792.4 million euros in January - June 2005). Operating income was 20.5 million euros (25.4) and income before taxes 9.9 million euros (18.6) In April the company announced the completion of personnel negotiations concerning the Lohja manufacturing plant, the company's product development unit and the NPI (New Product Introduction) unit in Finland. As a result of the negotiations the company terminated altogether 65 employment contracts and laid off 15 persons on production and financial grounds.