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