STOCKHOLM, Sweden, Feb. 27, 2004 (PRIMEZONE) -- Opcon AB (publ) Financial statement 2003 Interim report for 1 October-31 December 2003
Sales turnover in 2003 amounted to SEK 247.0 million (282.9 m), of which SEK 62.3 million (69.7 m) was in the final quarter.
The loss after financial items was SEK 26.3 million (-18.4 m), of which SEK 11.7 million (-12.1 m) was in the final quarter.
Earnings have been negatively affected by lower sales turnover, restructuring costs and the low exchange rate of the US dollar.
The loss after tax was SEK 19.3 million (-12.7 m), of which SEK 8.8 million (-8.2 m) was in the final quarter.
Earnings per share after tax were SEK -2.71 (-1.90). Earnings per share after tax in the final quarter were SEK -1.23 (-1.15). The Board proposes that no dividend be paid.
The manufacture of ignition systems for small engines is being moved to China.
Completed strategic acquisitions enhance Opcon's position as air systems for fuel cells and combustion engines enter a new phase.
Net profit forecast for 2004, including acquired companies.
Rationalisation and cost-cutting programmes will mean lower costs in 2004 compared with 2003.
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