July 26, 2019 / 6:23 AM / a month ago

Hexagon final second-quarter earnings roughly matches earlier profit warning

STOCKHOLM (Reuters) - Industrial technology firm Hexagon (HEXAb.ST) on Friday reported quarterly core earnings in line with its profit warning earlier in July.

The company reported second-quarter operating earnings of 239 million euros ($266 million), up from 228 million in the year-earlier quarter, and just above the 237 million expected when it reported preliminary earnings earlier this month.

Hexagon said on July 5 it would cut 700 jobs on the back of a weaker-than-expected China market in June, with the electronics sector seen particularly slow.

“As a response to the uncertainties in the global economy, Hexagon has taken proactive restructuring actions to ensure the company remains on track to meet its 2021 financial targets,” CEO Ola Rollen said in a statement.

Reporting by Johannes Hellstrom, Editing by Helena Soderpalm

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