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Electronics Production | December 22, 2006

Elcoteq lower forcasts for fourth quarter

Elcoteq SE is revising its net sales and profit forecasts for the final quarter of the year downwards. The company currently forecasts that its fourth-quarter net sales will be slightly lower than in the third quarter and its operating income roughly one-half of the third quarter's level.

The company has earlier forecast that its fourth-quarter net sales and operating income would be at the same level as in the third quarter. The main reasons for revising the forecast are lower than expected production volumes and intensified competition especially in Europe in both Terminal Products and Communications Networks. Elcoteq is accelerating measures consistent with its strategy to improve its competitiveness and profitability, aiming to achieve annual savings of 20 million euros. The proposal for the transfer of domicile, announced today by the Board of Directors, forms part of this program to enhance competitiveness.
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