IPTE post higher sales in Q3

The profit from operations in the 3rd quarter of 2007 was € 3,290,000 compared with € 950,000 in the same quarter last year. The profit after taxes during the period rose from € 347,000 to € 2,642,000. The order book at the end of 3rd quarter of 2007 has risen to a record amount of € 88.5 million compared with € 79.1 million at the end of the 2nd quarter. “The results for the 3rd quarter are better than expected. Compared with the same period last year, we note a rise in sales of 62 % but especially a strong improvement in the profit from operations and profit after taxes.", said Huub Baren, Managing Director at IPTE. As announced in the 2nd quarter, the sales in the 3rd quarter are lower than in the 2nd quarter due to the holiday period. However, positive is that the gross margin rose by 1.3 percent compared with the 2nd quarter because of the automation and contract manufacturing product mix, with the result that the profit from operations for the 3rd quarter is almost as high as in the 2nd quarter. Automation division sales rose from € 13.8 million in the 3rd quarter of 2006 to € 16 million in the 3rd quarter of 2007. At the end of the 3rd quarter the order book for the division amounts to € 17.8 million (€ 15.8 million at the end of the 2nd quarter). Contract Manufacturing division sales rose from € 22.1 million in the 3rd quarter of 2006 to € 42.2 million in the 3rd quarter of 2007. The independent growth of contract manufacturing was 7.6 percent (from € 22.1 to € 23.8 million). The order book rose from € 63.4 million at the end of the 2nd quarter to a record of € 70.7 million at the end of the 3rd quarter.