July 30, 2014 / 6:47 AM / 3 years ago

Finland's Vacon misses Q2 profit expectations

HELSINKI, July 30 (Reuters) - Finnish electric drive maker Vacon reported on Wednesday second-quarter operating profit below analyst forecasts, hit by an unexpected fall in sales.

The company said its April-June operating profit was 11.6 million euros ($15.6 million), up from 10.4 million in the same period a year earlier, but short of analysts’ average forecast of 12.7 million in a Reuters poll.

Sales in the quarter decreased to 103.3 million euros, against the poll forecast for a rise to 109 million.

Vacon kept its full-year sales and profit forecasts unchanged, saying it expects its revenues to rise 5-15 percent and its adjusted operating profit margin to be 11-13 percent.

$1 = 0.7460 Euros Reporting by Sakari Suoninen; Editing by Mark Potter

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below