Elektrobit Oyj Provides Earnings Guidance for the Fourth Quarter, Second Half and Full Year 2012
For second half year 2012, the company operating result of the second half of 2012 to be approximately between EUR 1.7 million and EUR 3.2 million compared to operating results of EUR 0.4 million for the second half of 2011. Net sales of the second half of 2012 is expected to be approximately EUR 104 million compared to EUR 86.1 million for the second half in 2011.
For the year 2012, the company lowers its profit guidance for 2012 due to the weaker than expected fourth quarter. The reason for the weakening of the fourth quarter is the non-recurring items of approximately EUR 4 million in total, booked as result of the financial challenges faced by a U.S. based customer of the company's subsidiary, Elektrobit Inc. Operating result of the whole year 2012 to be approximately between EUR 2.2 million and EUR 3.7 million compared to operating loss of EUR 4.0 million in 2011. The expected operating results presented include non-recurring items that caused the lowering of the fourth quarter profit guidance, as well as non-recurring income and costs related to the reorganization processes of TerreStar companies, booked earlier in 2012. Net sales of the whole year 2012 is expected be approximately EUR 200 million compared to EUR 162.2 million in 2011.