Revenue amounted to NOK 495.1 million in the first quarter of 2008, representing 1.9 per cent increase over the same period in 2007. Profit before tax was NOK 16.2 million in the quarter, which was in line with first quarter in 2007. Orders increased by 10 per cent compared to first quarter 2007. Order backlog remains healthy.
Enclosed in pdf are the interim report and the presentation.
29 April 2008
Kitron ASA
Key Items
Figures in brackets refer to the first quarter of 2007 unless otherwise stated.
Strong order intake, the last two quarters suggesting a higher level
The order intake in the quarter increased by 10.4 per cent to NOK 509 million (NOK 461 million). The order backlog at the end of the quarter was NOK 928 million (NOK 934 million).
Revenue growth (1.9 per cent)
NOK 495.1 million in the quarter (NOK 485.7 million).
Stable profit before tax
NOK 16.2 million (NOK 15.7 million). Profit before tax amounted to an operating margin at 3.3 per cent (3.2 per cent).
Increased gross margin
Gross margin was 39.8 per cent (37.7 per cent) due to positive sourcing effects and product mix variations.
Gross margin was 39.8 per cent (37.7 per cent) due to positive sourcing effects and product mix variations.
Stable operating profit
EBITDA and EBIT were NOK 30.5 million (NOK 28.9 million) and NOK 21.6 million respectively (NOK 21.4 million).
Seasonally negative cash flow from operations
Cash flow from operations in the first quarter was negative with NOK 60.9 million (negative with NOK 68.6 million).
