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Kitron ASA (OSL:KIT) Kitron continues to deliver a strong performance as a result of a strong order backlog trend and the implementation of productivity enhancing measures.
The preliminary key figures for Q3 indicate revenue in the region of NOK 480 million, representing an increase of more than 20 per cent over the same period in 2007. Profit before tax is expected to be about NOK 29 million in the quarter, which is more than three times the result in third quarter in 2007 (NOK 8.7 million).
"The positive financial development appears sustainable and the outlook for 2008 is promising. We are confident that Q4 will be significantly stronger than Q3 and that profit before tax will more than double compared to Q4 2007. Further measures to sustain profitability in 2009 are being evaluated", says Jørgen Bredesen, CEO of Kitron ASA.
23 October 2008 Kitron ASA
For further information, please contact: Jørgen Bredesen, CEO of Kitron ASA, phone: (+47) 4825 2584, or e-mail: jorgen.bredesen@kitron.com Björn Wigström, CFO of Kitron ASA, phone: (+47) 9053 1304, or e-mail: bjorn.wigstrom@kitron.com
Kitron is one of Scandinavia's leading companies in development, industrialisation and manufacturing of electronics for the Data/Telecom, Defence/Marine, Medical equipment and Industry sectors. The company is located in Norway, Sweden and Lithuania. Kitron had a revenue of about NOK 1.9 billion in 2007 and has about 1,400 employees. www.kitron.com
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