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Aspocomp Group Plc
Place de cotation: Helsinki Stock Exchange - (Finland)

The Group's principal activities are to manufacture high-tech electronic components and related services. In 2006 the Group sold its Module division and modules-related research and development, and therefor the only division left is the Printed Circuit Boards division. The Printed circuit Boards division designs and manufactures high-tech printed circuit boards for hand held devices, telecommunications networks and automotive and industrial applications.
 

http://www.aspocomp.com



ASPOCOMP'S INTERIM REPORT JANUARY 1 - MARCH 31, 2011
 

Espoo, Finland, 2011-04-20 08:00 CEST (GLOBE NEWSWIRE) -- Aspocomp Group Plc., Interim Report, April 20, 2011 at 9:00 a.m.Key figures in brief- Net sales: EUR 4.9 million (EUR 4.3 million 1-3/2010)- Operating result before depreciation (EBITDA): EUR 0.8 million (0.7)- Operating result (EBIT): EUR 0.4 million (0.4)- Profit for the period: EUR 0.1 million (0.1)- Earnings per share (EPS): EUR 0.00 (0.00)- Cash flow from operations: EUR -0.7 million (0.8)The company expects to see net sales growth in 2011. The operating result is anticipated to be in the black, but to fall short of 2010.PRESIDENT AND CEOS REVIEWThe final months of 2010 were tough and 2011 got off to a slow start, but net sales eventually rose to a good level thanks to the pickup in quick-turn deliveries. The operating result EUR 0.4 million, or about nine percent of net sales was also satisfactory.Cash flow in turn slumped into the red as a result of the decline in sales in the previous quarter and payments that are mainly due in the first months of the year but which are recognized over the entire financial year.The short-term market outlook appears to be upbeat, but the rise in material prices still overshadows profitability. As usual, we have only been partly able to transfer the higher material costs to the prices of the final products. Fortunately, it seems that demand for quick-turn deliveries will compensate for the higher costs and, all in all, the financial year ahead will most likely be good.The consequences of the natural catastrophe in Japan are not expected to have a significant impact on Aspocomps business.NET SALES AND EARNINGS IN JANUARY-MARCHFirst-quarter net sales amounted to EUR 4.9 million, up 13 percent on 1-3/2010. The five largest customers accounted for 80 percent of net sales (79%). In geographical terms, 93 percent of net sales were generated in Europe (90%) and 7 percent in Asia (10%).The operating result was EUR 0.4 million (0.4). Profitability remained on a par with the comparison period, with the operating margin amounting to 8.9 percent. Quick-turn deliveries and the more favorable product mix supported profitability.The Groups net financial expenses likewise remained at the same level as in the comparison period, EUR -0.3 million. Consequently, the result for the review period, EUR 0.1 million, and earnings per share, EUR 0.00, were also on a par with the comparison period.

 

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