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Provider: Reuters Investment Profile

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Elektrobit Oyj Updates on FY 2013 Financial Guidance and Issues H2 2013 Operating Profit Guidance

Friday, 26 Apr 2013 01:00am EDT 

Elektrobit Oyj announced that for the fiscal year 2013 the Company expects its net sales to grow and operating result to be at the same level as it was in the fiscal year 2012 without non-recurring items. the Company's restated net sales for the fiscal year 2012 were EUR 173.9 million, and restated operating profit without non-recurring items was EUR 5.1 million for the period. According to I/B/E/S Estimates analysts on average are expecting Elektrobit to report revenue of EUR 196.67 million for the fiscal year. Additionally, the Company added that its operating result is expected to be clearly better in the second half (H2) than in the first half (H1) of 2013 due to higher product license sales during the latter half of the year and other seasonality factors in the Automotive Business Segment, and due to the cost saving measures in the first half in the Wireless Business Segment.