PERLOS CORPORATION STOCK EXCHANGE RELEASE OCTOBER 23, 2007
Key figures for July-September 2007:
- Net sales amounted to EUR 110.1 million (EUR 174.7 million in
July-September 2006).
- The operating result was EUR 4.4 million (EUR -27.1 million).
- The result for the review period was EUR -1.2 million (EUR -36.9
million).
- Earnings per share (diluted) were EUR -0.02 (EUR -0.69).
- Net cash flow from operations was EUR 9.7 million (EUR -5.8
million).
- Cash flow before financing activities was EUR 1.5 million (EUR
-21.9 million).
MATTI VIRTANEN, PRESIDENT AND CEO OF PERLOS:
- Now that the third quarter has ended, I can say that Perlos has
successfully met the challenges of the current year. The company's
business is now on a healthy basis thanks to the determined execution
of our profitability improvement programme. Our goal of cutting the
cost structure by over EUR 100 million has now been achieved. The
crucial measures for achieving this have included increasing the
efficiency of production processes, sourcing operations and
subcontracting, and reducing expenses related to quality. The entire
company's organisation has been streamlined and production operations
have been adjusted to match demand.
- With our business operations healthier, we have also been able to
concentrate on developing the company in the long term. In August
Perlos took one of the most significant steps in its history by
signing a combination agreement with Taiwanese electronics supplier
Lite-On Technology, under which Lite-On made a voluntary Public
Tender Offer to acquire all of the shares and stock options issued by
Perlos Corporation.
- By joining forces, Perlos and Lite-On's objective is to build a new
powerhouse in the handset industry. Lite-On's extensive technology
portfolio combined with Perlos' solid mechanics expertise will enable
us to expand our services to a completely new level.
- Lite-On has announced that it will publish the preliminary results
of the tender offer today. Over 90% of Perlos' shareholders had
accepted the offer by 5 October.
NET SALES AND RESULT IN JULY-SEPTEMBER 2007
Perlos' net sales in July-September, in line with our guidance,
amounted to EUR 110.1 million (EUR 174.7 million). During the current
year, the trend in the company's net sales is being influenced by the
discontinuation of BenQ Mobile's production operations in Europe and
the decline in demand for Perlos' services in Finland and North and
South America.
Of the Group's net sales, 44% (32%) originated in Asia, 33% (49%) in
Europe and 23% (19%) in North and South America.
Operating profit during the July-September period was EUR 4.4 million
(EUR -27.1 million), and the result for the review period was EUR
-1.2 million (EUR -36.9 million). The result is weakened by
non-recurring expenses of EUR 0.7 million in connection with the
Lite-On combination agreement. Earnings per share were EUR -0.02 (EUR
-0.69).
In July-September 2006, profitability was especially burdened by a
provision of EUR 29 million related to the account receivables and
inventories of BenQ Mobile.
Net cash flow from operations was EUR 9.7 million, including a total
of EUR 5.2 million from the sales of trade receivables.
Cash flow before financing activities was EUR 1.5 million (EUR -21.9
million).
NET SALES AND RESULT IN JANUARY-SEPTEMBER 2007
Perlos' net sales in January-September amounted to EUR 350.4 million
(EUR 529.8 million). Of the Group's net sales, 43% (34%) originated
in Asia, 37% (43%) in Europe and 20% (23%) in North and South
America.
The January-September operating result was EUR -38.4 million (EUR
-28.6 million). The operating result includes non-recurring expenses
of EUR 39.6 million in connection with the profitability improvement
programme initiated in January and the Lite-On combination agreement.
The result for the review period was EUR -54.8 million (EUR -40.3
million) and earnings per share were EUR -1.04 (EUR -0.76).
The result of the 2006 January - September period was also weakened
by large non-recurring expenses, amounting to EUR 43,6 million, which
were connected with the account receivables and inventories of BenQ
Mobile, the rationalisation measures in Finland and the USA, and the
sale of the Healthcare business.
Net cash flow from operations was EUR 9.2 million (EUR 22.3 million)
and cash flow before financing activities was EUR -19.6 million (EUR
-23.7 million).
INVESTMENTS AND NEW FACTORIES
The Group's gross investments in property, plant and equipment
totalled EUR 10.7 million (EUR 17.0 million) in July-September, or
9.7% (9.7%) of net sales. Gross investments during the
January-September period amounted to EUR 35.6 million (EUR 46.8
million).
Among the largest investment items in early 2007 were the new
factories in Guangzhou, China, and Chennai, India, which have already
started production operations.
ASIAN ANTENNA DESIGN CENTRE TO MOVE TO BEIJING
In line with customer demand, Perlos took the decision in September
to move its Asian antenna design centre from Singapore to Beijing by
the end of the current year. The decision will have no effect on
Perlos' other design operations.
FINANCING
The Group's liquid assets at the end of the review period amounted to
EUR 21.0
million (EUR 22.6 million) and unused committed credit limits to EUR
113.5 million (EUR 129.2 million). The Group's net gearing ratio was
1.45 (1.38) and its equity ratio 27.7% (28.3%). Interest-bearing
liabilities amounted to EUR 164.8 million (EUR 215.7 million), of
which short-term liabilities accounted for EUR 105.3 million (EUR
159.6 million) and long-term liabilities for EUR 59.5 million (EUR
56.1 million). Net interest-bearing liabilities totalled EUR 143.8
million (EUR 193.1 million).
PERSONNEL
At the end of September, Perlos Corporation employed 9,199 (13,211)
people, including temporary workers. Of them, 6,006 (7,428) worked in
Asia, 2,173 (4,563) in Europe and 1,020 (1,220) in North and South
America. The number of personnel increased compared with the previous
quarter due to the start-up of operations at the Chennai and
Guangzhou factories.
In accordance with earlier announcements, Perlos' production
operations in Finland were discontinued during the third quarter.
Other personnel reductions in Finland have also proceeded according
to plan during the early autumn, with a total of just over 300 people
remaining in Perlos' employ at the end of September. It is estimated
that the number of personnel in Finland will meet the target, which
is approximately 200 persons, by the end of the year.
MAJOR BUSINESS RISKS
Perlos' services and products are targeted mostly for customers in
the mobile phone industry and the majority of Perlos' net sales are
generated from the supply of mobile phone mechanics as well as
products and services used in mobile phone networks. The focus on a
single industry and the dependence on a few customers carries certain
risks. Changes in the demand for mobile phones or in the market
position of Perlos or its key customers may have unfavourable effects
on Perlos' business operations.
OPTIONS AND SHARE CAPITAL
At the end of the review period, Perlos Corporation had two share
option programmes. A total of 750,000 shares can be subscribed for on
the basis of the 2002 share option programme and 1,000,000 shares on
the basis of the 2005 share option programme. No shares have been
subscribed for on the basis of the 2002 and 2005 warrants.
The A, B and C warrants issued in connection with the 2002 share
option programme and the A warrants issued in connection with the
2005 share option programme are listed on the Main List of OMX Nordic
Exchange Helsinki.
Perlos Corporation's share capital at 30 September 2007 amounted to
EUR 31,762,288.80 and the number of shares in issue to 52,937,148.
There were no own shares in the company's possession at the end of
the review period.
LITE-ON TECHNOLOGY'S PUBLIC TENDER OFFER
Lite-On Technology Corporation announced on 13 August 2007 that it
will make a voluntary Public Tender Offer to acquire all of the
shares and stock options issued by Perlos Corporation. The Tender
Offer period began on 3 September 2007 and the extended Tender Offer
period expired on 22 October 2007.
By the end of business on 5 October 2007, as an interim preliminary
result of validly given acceptances of shares in accordance with the
terms and conditions of the Tender Offer, Lite-On's ownership had
reached 92.82 per cent of the shares and votes in Perlos (counted
before taking into account dilution from the exercise of stock
options). Should the validly tendered options be taken into account
and should the proportion of share capital and voting rights be
calculated in relation to the number of shares in a situation in
which all the stock options issued by Perlos would have been
converted into shares, Lite-On's holding in Perlos would be 92.56 per
cent of share capital and voting rights.
The European Commission and the Chinese merger control authorities
have approved the acquisition in accordance with the Tender Offer by
8 October 2007. Lite-On announced on 5 October 2007 that it had
already received the Taiwanese merger control clearance and the
approval of the Taiwan Investment Committee. Lite-On has now received
all the regulatory approvals necessary for completing the Tender
Offer.
Consequently, all conditions for completion under the terms and
conditions of the Tender Offer were met on 8 October 2007. Lite-On
decided on 8 October 2007, in accordance with the terms and
conditions of the Tender Offer, to suspend the extended offer period
so that it expires at 4.00 p.m. (Finnish time) on 22 October 2007.
Lite-On will announce the preliminary result of the Tender Offer on
or about 23 October 2007.
AUTHORISATIONS OF THE BOARD OF DIRECTORS
In accordance with a resolution of the Annual General Meeting on 28
March 2007, the Board of Directors has an authorisation for the
distribution of shares, share options and other special rights
entitling to shares. Based on this authorisation, the maximum total
number of shares to be distributed is 20,000,000.
The Board also has an authorisation to decide on buying back the
company's own shares or taking them as collateral. Based on the
authorisation, the Board may buy back or take as collateral a maximum
total of 5,000,000 own shares.
APPOINTMENT TO PERLOS' EXECUTIVE BOARD
Tsong-Da Chou, Ph.D., born in 1960, has been appointed as Perlos'
Senior Vice President, Global Operations, as from 10 September 2007.
The Taiwanese Tsong-Da Chou has made a long career in senior
production management tasks with international companies.
CHARGES FOR ALLEGED DELAY IN PERLOS CORPORATION'S PROFIT WARNING AT
THE TURN OF THE YEAR 2002-2003
Perlos Corporation was notified on 21 September 2007 that the public
prosecutor has decided to press charges for a suspected securities
market information offence regarding the alleged delay in Perlos
Corporation's profit warning at the turn of the year 2002-2003.
The charges concern some of the persons who served as members of the
Board of Directors of Perlos Corporation and as the company's Chief
Executive Officers at the time. The prosecutor has also informed
Perlos Corporation that a claim for a corporate fine amounting to at
least EUR 20,000 will be brought against the company.
Perlos Corporation considers the claim unfounded and denies that the
suspected offence has been committed in its operations. According to
information available to the company, the suspected persons have also
denied the allegations.
OUTLOOK
Perlos forecasts that its net sales in October-December will grow
somewhat on the previous quarter, with operating result expected to
continue to improve.
Regarding profitability, it should however be taken into
consideration that there has often been uncertainty concerning the
demand of Perlos' services at the end of the last quarter.
Interim Report
is unaudited.
CONSOLIDATED INCOME STATEMENT
EUR million 7-9/2007 7-9/2006 Change,% 1-9/2007 1-9/2006 1-12/2006
Continuing
operations:
Net sales 110,1 174,7 -37 % 350,4 529,8 673,6
Cost of goods
sold -94,1 -166,9 -44 % -348,4 -483,8 -614,8
Gross
profit/loss 16,0 7,8 2,0 46,0 58,8
Other
operating
income 0,4 1,2 2,2 2,4 3,5
Selling and
marketing
expenses -2,3 -3,1 -8,4 -10,1 -13,1
General and
administrative
expenses -9,3 -15,1 -33,4 -46,1 -61,0
Other
operating
expenses -0,4 -17,9 -0,8 -20,8 -21,1
Operating
profit/ loss 4,4 -27,1 -38,4 -28,6 -32,9
Financial
income and
expenses -3,1 -4,0 -8,4 -7,6 -10,6
Share of
profit/loss of
associates -0,3 0,0 -0,9 -0,1 -0,1
Profit/loss
before income
tax 1,0 -31,1 -47,7 -36,3 -43,6
Income tax
expenses -2,2 -5,2 -7,1 -3,4 0,0
Profit/loss
from
continuing
operations -1,2 -36,3 -54,8 -39,7 -43,6
Discontinued
operations;
Profit/loss
from
discontinued
operations 0,0 -0,6 0,0 -0,6 18,3
Profit/ loss
for the period -1,2 -36,9 -54,8 -40,3 -25,3
Attributable
to
Equity
holders' of
the Company -1,1 -36,7 -54,6 -40,1 -25,5
Minority
interest -0,1 -0,2 -0,2 -0,2 0,2
Earnings per share for
profit/loss
attributable
to the equity holders'
of the Company
Continuing
operations:
Earnings per
share, basic,
€ -0,02 -0,69 -1,04 -0,75 -0,82
Earnings per
share,
diluted, € -0,02 -0,69 -1,04 -0,75 -0,82
Geographical diversity of net sales from
continuing operations, %
7-9/2007 7-9/2006 1-9/2007 1-9/2006 1-12/2006
Europe 33 % 49 % 37 % 43 % 44 %
Americas 23 % 19 % 20 % 23 % 21 %
Asia 44 % 32 % 43 % 34 % 35 %
CONSOLIDATED BALANCE SHEET
EUR million
ASSETS 9/2007 9/2006 12/2006
Non-current assets
Goodwill 11,4 11,8 11,6
Intangible assets 9,7 14,0 13,0
Property, plant and equipment 199,9 217,5 219,3
Non-current trade and other receivables 0,8 0,1 1,3
Investments in associates 0,6 0,0 1,6
Available for sale financial assets 0,1 0,1 0,1
Deferred income tax assets 7,0 7,9 7,0
229,5 251,4 253,9
Current assets
Inventories 35,1 91,7 65,6
Trade and other receivables 67,2 105,6 75,5
Derivative financial instruments 0,3 0,4 0,4
Cash and cash equivalents 21,0 22,2 28,1
123,6 219,9 169,7
Assests held for sale 8,5 39,3 -
Total assets 361,6 510,6 423,6
SHAREHOLDERS' EQUITY AND LIABILITIES 9/2007 9/2006 12/2006
Shareholders' equity
Share capital 31,8 31,8 31,8
Far value, hedging and other reserves 7,0 3,3 4,3
Translation differences -2,7 2,7 1,1
Reserve, managed by the General Meeting 48,8 48,8 48,8
Retained earnings 14,5 53,4 69,6
Equity attributable to equity holders' of the
Company 99,4 140,0 155,6
Minority interest 0,0 0,2 0,2
Total shareholders' equity 99,4 140,2 155,7
Liabilities
Non-current liabilities
Deferred income tax liabilities 0,2 0,6 0,2
Interest-bearing liabilities 59,5 53,1 51,1
Provisions 3,0 3,1 2,8
62,7 56,8 54,1
Current liabilities
Interest-bearing liabilities 105,3 159,1 89,8
Current income tax liabilities 1,6 -0,2 0,2
Provisions 3,2 4,7 2,9
Derivative financial instruments 0,3 1,1 0,3
Trade and other payables 89,1 133,1 120,6
199,5 297,8 213,7
Total liabilities 262,2 354,6 267,9
Liabilities associated with assets held for
sale - 15,8 -
Total shareholders' equity and liabilities 361,6 510,6 423,6
CONSOLIDATED CASH FLOW
STATEMENT
EUR million 7-9/2007 7-9/2006 1-9/2007 1-9/2006 1-12/2006
Cash flow from
operating activities
Operating profit/loss 4,4 -27,6 -38,4 -27,8 -7,8
Adjustments -0,2 41,4 53,2 72,9 53,2
Change in working
capital 10,1 -16,5 8,3 -7,8 40,7
Financial income and
expenses -2,5 -1,2 -8,5 -7,9 -10,8
Income taxes paid -2,1 -1,9 -5,4 -7,1 -9,9
Net cash flow from
operations 9,7 -5,8 9,2 22,3 65,5
Cash flows from
investing activities
Investments in
associated companies 0,0 0,0 0,0 0,0 -7,8
Purchase of tangible
and intangible assets -10,7 -17,8 -35,6 -48,1 -60,4
Proceeds from
tangible and
intanbigle assets 2,5 1,7 6,8 2,1 2,4
Proceeds from
divested operations,
net of cash 0,0 0,0 0,0 0,0 56,0
Net cash used in
investing activities -8,2 -16,1 -28,8 -46,0 -9,8
Cash flow before
financing activities 1,5 -21,9 -19,6 -23,7 55,7
Cash flow from
financing activities
Change in loans -18,6 19,4 12,5 25,2 -48,7
Dividends paid 0,0 0,0 0,0 -5,3 -5,3
Net cash flow from
financing activities -18,6 19,4 12,5 19,9 -54,0
Translation
difference -0,4 0,0 -0,8 -2,2 -3,4
Change in cash and
cash equivalents -16,7 -2,5 -6,3 -1,6 5,1
Cash and cash
equivalents at
beginning of period 38,1 25,1 28,1 26,4 26,4
Cash and cash
equivalents at end of
period 21,0 22,6 21,0 22,6 28,1
Due to exchange gains and losses during the year and
discontinuing operations in 2006
the amounts in the cash flow statement are not directly reconcilable
with the balance sheet figures.
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY
EUR million
1) Share capital
2) Share issue premium
3) Hedging reserve
4) Other reserves
5) Translation
differencies
6) Retained earnings
7) Total
8) Minority interest
9) Total
Shareholders'
equity 1-9/2006 1) 2) 3) 4) 5) 6) 7) 8) 9)
Shareholders'
equity
31.12.2005 31,8 48,8 -0,2 2,9 4,5 100,0 187,7 0,4 188,1
Cash flow
hedging
- Increase
- Decrease
(hedging reserve) 0,2 0,2 0,2
- Deferred taxes's
share of period
movements
Translation
difference -1,8 -1,1 -2,9 -2,9
Other changes -48,8 49,3 -0,1 0,4 0,4
Net profit/loss
recoqnised directly
to shareholders'
equity 0,0 -48,8 0,2 49,3 -1,8 -1,2 -2,3 0,0 -2,3
Profit/loss
for the period -40,1 -40,1 -0,2 -40,3
Total profits
and losses 0,0 -48,8 0,2 49,3 -1,8 -41,3 -42,5 -0,2 -42,6
Dividends paid -5,3 -5,3 -5,3
Shareholders'
equity
30.6.2006 31,8 0,0 0,0 52,2 2,7 53,4 140,0 0,2 140,2
Shareholders'
equity 1-9/2007 1) 2) 3) 4) 5) 6) 7) 8) 9)
Shareholders'
equity
31.12.2006 31,8 0,0 0,0 53,1 1,1 69,6 155,5 0,2 155,7
Cash flow
hedging
- Increase
- Decrease
(hedging reserve)
- Deferred taxes's
share of period
Net gains/losses
of net investments 0,6 0,6 0,6
Translation
difference -3,8 1,6 -2,2 -2,2
Other changes 2,7 -2,6 0,1 0,1
Net profit/loss
recoqnised directly
to shareholders'
equity 0,0 0,0 0,0 2,7 -3,8 -0,4 -1,5 0,0 -1,5
Profit/loss
for the period -54,6 -54,6 -0,2 -54,8
Total profits
and losses 0,0 0,0 0,0 2,7 -3,8 -55,0 -56,1 -0,2 -56,3
Dividends paid
Shareholders'
equity
30.9.2007 31,8 0,0 0,0 55,8 -2,7 14,5 99,4 0,0 99,4
NOTES TO THE INTERIM FINANCIAL REPORT
Basis of preparation and accounting
policies
The interim financial report has been prepared in accordance with the
IAS 34 standard
and the same principles as the annual financial
statments for 2006.
Changes in property, plant
and equipment
EUR million
1-9/2007 1-9/2006 1-12/2006
Book value at beginning of
the period 219,3 246,5 246,5
Additions and transfers 44,1 48,1 61,2
Deductions and transfers -5,8 -9,9 -12,3
Discontinued operations - -25,7 -23,5
Depreciation -29,6 -30,8 -37,3
Impairment -18,2 -6,8 -8,4
Translation difference and
other changes -9,9 -3,9 -6,8
Book value at end of the
period 199,9 217,5 219,3
Company's real estate located in North Karelia has been classified as
asset held for sale
in the balance sheet. In the table the transfer of the real estate is
shown as other changes.
Fixed asset write-downs related to restructurings are estimated to
realise slightly lower than
estimated earlier, whereas inventory write-downs and other
restructuring expenses are estimated
to realise slightly higher than estimated earlier. The restructuring
provision of 38,9 m€ which
was booked into Q1 2007 result, has
not changed.
Provisions
1.1.2007 Increase Decrease 30.9.2007
Pension benefit 0,8 0,8
Restructuring 4,9 11,7 -11,3 5,3
5,7 11,7 -11,3 6,1
The useage of restructuring provision
is shown as decrease.
Exchange rates 30.9.2007 30.9.2006 31.12.2006
USD 1,4179 1,2660 1,3170
CNY 10,6429 10,0066 10,2793
SEK 9,2147 9,2797 9,0404
BRL 2,6237 2,7517 2,8202
MXN 14,4983 13,9050 14,2830
INR 56,279 58,0590 58,2295
HKD 11,0055 9,8640 10,2409
COMMITMENTS
EUR million 1-9/2007 1-9/2006 1-12/2006
The future aggregate minimum lease
payments
under non-cancellable operating
leases 19,3 25,8 19,9
Guarantees on behalf of third
parties as
collateral on other commitments 2,6 1,8 1,4
Guarantees on behalf of associated
companies 0,0 0,0 5,6
Major off-balance sheet investment
commitments 3,7 7,4 13,0
Nominal values of derivate
financial instruments
Foreing exchange forwards
- related to transaction risk 3,7 20,6 4,1
- related to financing 44,4 112,9 46,3
Interest rate swaps 0,0 25,0 25,0
Commodity derivates 0,1 1,2 0,4
Total nominal values 48,2 159,7 75,8
The nominal amounts are presented
as gross values.
Fair values of derivates financial
instruments
Instruments having a positive fair
value
- Foreign exchange forwards
-- related to transaction risk 0,0 0,4 0,0
-- related to financing 0,3 0,0 0,2
- Commodity derivatives 0,0 0,3 0,0
Instruments having a negative fair
value
- Foreign exchange forwards
-- related to transaction risk -0,1 -0,1 -0,1
-- related to financing -0,3 -1,1 -0,2
- Interest rate swaps 0,0 0,0 0,0
- Commodity derivatives 0,0 0,0 0,0
Total fair values -0,1 -0,5 -0,1
The fair values are based on quoted
market prices.
Fair value represents the amount that would be realised, if the
derivative contracts were
closed on the balance sheet date.
All derivative financial instruments are fair valued through the
income statement at each balance sheet date.
KEY FIGURES
7-9/2007 7-9/2006 1-9/2007 1-9/2006 1-12/2006
Continuing operations
gross investments in
fixed assets, EUR
million 10,7 17,0 35,6 46,8 60,4
EBITDA *) from
continuing operations,
EUR million 14,4 -15,8 -4,2 5,4 11,6
EBITDA *) from
continuing operations,
% 13,1 -9,0 -1,2 1,0 1,7
EBIT from continuing
operations, EUR million 4,4 -27,1 -38,4 -28,6 -32,9
EBIT from continuing
operations, % 4,0 -15,5 -11,0 -5,4 -4,9
Net sales from
continuing operations,
EUR million 110,1 174,7 350,4 529,8 673,6
Net sales from
discontinued
operations, EUR million - 14,2 - 39,6 42,7
Equity ratio, % 27,7 28,3 27,7 28,3 37,3
Gearing 1,45 1,38 1,45 1,38 0,72
Interest-bearing net
liabilities, EUR
million 143,8 193,1 143,8 193,1 112,8
ROE, % p.a. -5,0 -93,0 -57,3 -32,7 -14,7
ROI, % p.a. 12,3 -27,2 -13,8 -3,6 5,3
Earnings per share, EUR -0,02 -0,70 -1,04 -0,76 -0,48
Earnings per share,
diluted, EUR -0,02 -0,70 -1,04 -0,76 -0,48
Earnings per share from
continuing operations,
EUR -0,02 -0,69 -1,04 -0,75 -0,82
Earnings per share from
discontinued
operations, EUR - -0,01 - -0,01 0,35
Shareholders' equity
per share, EUR 1,88 2,65 1,88 2,65 2,94
Shareholders' equity
per share, diluted, EUR 1,88 2,64 1,88 2,64 2,94
Average number of
shares during the
period (1 000) 52 937 52 937 52 937 52 937 52 937
Average number of
shares (diluted) during
the period
(1 000) 52 937 53 048 52 937 53 048 53 020
Personnel of continuing
operations
- average for the
period 5462 7 837 6 156 7 355 7 746
- end of period 5316 7 397 5 316 7 397 7 229
- average including
workforce 9049 13 323 9 877 13 305 13 320
- end of period
including workforce 9199 13 211 9 199 13 211 12 944
*) Earnings before interest,
taxes, depreciation and
amortisation
Key figures have been calculated using the same calculation
principles as the annual financial statments for 2006.
The reporting date for the financial statement bulletin for 2007 will
be announced later.
Vantaa, October 22, 2007
PERLOS CORPORATON
Board of Directors
ADDITIONAL INFORMATION:
- A news conference for analysts and media will be held today,
October 23, 2007 at 10:00 in Restaurant G.W. Sundmans, Eteläranta 16,
Helsinki. Welcome.
- CFO Juha Torniainen is available today, October 23 at 11.30 - 12.30
Finnish time, tel. +358 40 570 8871.
- Perlos will arrange a conference call and web presentation for
analysts, media and investors today, October 23, at 6.00 A.M. US
Eastern time / 11.00 A.M. UK time / 1.00 P.M. Finnish time. You can
participate over the telephone or through Perlos' Internet site. The
results will be presented by Mr. Matti Virtanen, President and CEO.
The conference call and presentation will be held in English. To
participate in the conference call, please dial +44 207 108 6303, a
few minutes before the beginning of the conference.
PERLOS IN BRIEF
Perlos Corporation is a global design and manufacturing partner for
the telecommunications and electronics industry. The service offering
covers the whole product life cycle from product design to
manufacturing, logistics and new product versions. The production
facilities are located in Asia, Europe and North and South America
and the company is headquartered in Finland. In 2006, Perlos
Corporation's net sales amounted to EUR 673,6 million. The company
employed approximately 9,200 people worldwide in the end of
September, 2007. Perlos share (POS1V) is traded on the OMX Nordic
Exchange Helsinki.
DISTRIBUTION
Helsinki Stock Exchange
Central media
www.perlos.com
Interim Report, January-September 2007: PERLOS BUSINESS ON A HEALTHY BASIS
| Source: Perlos
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