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Kitron's 3Q08 Revenue Up 24% YoY
November 12, 2008 |Estimated reading time: 1 minute
Kitron's revenue in the third quarter was 24% higher than in the same period in 2007 and amounted to NOK 483.7 million (NOK 390.2 million). Revenue increased the most within the Defence/Marine, Data/Telecom and Industry segments. Revenue in the Medical equipment segment was somewhat lower compared to third quarter of 2007.
From 2008, Kitron reports a single business area, Electronic Manufacturing Services (EMS). The businesses at Røros and in Jönköping, Sweden, which previously comprised Microelectronics, are from 2008 included in Norway and Sweden respectively. Revenue in the Norwegian operation represented 63.9% of Kitron's gross revenue during the third quarter (62.4%). The swedish operation represented 19.2% of the group (21.4%) and Kitron's operation in Lithuania provided for 16.9% (16.2%). The transfer of manufacturing to Lithuania continues at a high speed. Kitron has during 2008 invested significantly in 5S and LEAN programs and has as a result achieved higher efficiency and quality.
Sales to customers in the Swedish market represented a 42% share of the total revenue during the third quarter (44%). The Norwegian market represented 49% of Kitron's total revenue in the third quarter (44%).
About Kitron
Kitron is a medium-size high mix low volume Electronic Manufacturing Services (EMS) company. The company has manufacturing facilities in Norway, Sweden and Lithuania, and has about 1400 employees. Kitron manufactures both electronics that are embedded in the customers' own product, as well as box-built electronic products. Kitron also provides high-level assembly (HLA) of complex electromechanical products for its customers. For more information, visit www.kitron.com.