ELTEK ASA EXPECTS NEGATIVE OPERATING PROFIT IN FIRST QUARTER 2010
(Thomson Reuters ONE) -
Based on current results and projections for March, Eltek expects to report
negative earnings before interest and tax (EBIT) in the range of NOK 20-30
million for the first quarter 2010. Weak order entry towards the end of 2009 and
into 2010 has generated lower revenues than expected, and the earnings estimate
also includes one-time costs of NOK 10 million related to the settlement with
former minority shareholders in Eltek Valere.
As communicated in the fourth quarter 2009 report, the company expected a
revenue decline from the fourth quarter 2009 to the first quarter 2010. However,
this revenue decline will be larger than previously expected, with the impact on
operating results mainly being felt in Nera Networks.
Eltek ASA expects higher revenue and improvements in underlying operations to
generate a return to positive EBIT in the second quarter 2010.
For further information, please contact:
CEO Rune Finne, tel +47 9010 5008
CFO Pål Skistad, tel +47 9085 0378
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1397486]
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Datum: 25.03.2010 - 03:46 Uhr
Sprache: Deutsch
News-ID 1011922
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