(2012-04-26) Kitron's revenue amounted to NOK 450.4 million in the first quarter of 2012, a 4.8 per cent increase compared with the same period last year. EBIT was NOK 21.5 million (NOK 11.1 million). The profit before tax and discontinued operations was NOK 13.9 million (NOK 5.2 million in Q1 2011). Cash flow from operations was negative by NOK 10.9 million (negative NOK 38.3 million). The order intake was NOK 448.1 million and the order backlog was NOK 797.0 million, an increase of 9.2 per cent and a decrease of 2.5 per cent respectively.
Enclosed in pdf are the interim report and the presentation.
Key items
Figures in brackets refer to the first quarter of 2011 unless otherwise stated.
Increased order intake
The order intake increased by 9.2 per cent to NOK 448.1 million (NOK 410.2 million). The order backlog at the end of the first quarter was NOK 797.0 million (NOK 817.1 million), 2.5 per cent lower than last year.
Activity level increasing
Revenue increased by 4.8 per cent to NOK 450.4 million (NOK 429.8 million).
Improved profitability
EBITDA and EBIT were NOK 30.4 million (NOK 18.8 million) and NOK 21.5 million (NOK 11.1 million) respectively.
Profit before tax and discontinued operations
The profit before tax and discontinued operations amounted to NOK 13.9 million (NOK 5.2 million).
Cash flow
Cash flow from operations in the first quarter was negative by NOK 10.9 million (negative NOK 38.3 million) due to build up of working capital.
Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Defence/Aerospace, Energy/Telecoms, Industry, Medical equipment and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of about NOK 1.7 billion in 2011 and has about 1 200 employees. www.kitron.com
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)
