Kitron Takes Q4 Loss
BILLINGSTAD, NORWAY -- Top 50 EMS company Kitron reported a fourth-quarter loss before tax and discontinued operations of NOK 18.8 million (US$3.26 million), a swing from a profit of NOK 12.8 million last year.
The electronics manufacturing services company reported revenue rose 7.4% from last year to NOK 455.2 million ($78.9 million). EBITDA was a loss of NOK 6.2 million, versus a profit of NOK 23 million profit, thanks to NOK 27 million in restructuring charges. The pretax loss was NOK 13.6 million, versus profits of NOK 15.8 million.
Cash flow from operations in the quarter was NOK 38.7 million, down from NOK 62.3 million. The EMS firm said orders fell 2.5% to NOK 443.2 million, and backlogs at quarter's end were up 5.1% to NOK 836.1 million.
Kitron, a large supplier of defense, medical and industrial products, ranked 35th last year in the revised CIRCUITS ASSEMBLY Top 50.
Ed.: 1 NOK = 0.173343 USD
