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Elcoteq Third-Quarter Net Sales and Operating Profit Better than Expected
October 9, 2002 |Estimated reading time: Less than a minute
Helsinki, Finland -- Elcoteq Network Corp.'s net sales and especially its operating profit for the third quarter ended in September will exceed the company's previous predictions.
The positive development in the result is attributable to the company's reaching its adjustment program targets.
Elcoteq's July-September net sales will exceed MEUR 450 according to preliminary figures. Net sales in the second quarter this year totaled MEUR 425 and in the third quarter of 2001 MEUR 428. Preliminary information also indicates that operating profit will show a significant improvement on the second quarter this year when it was MEUR 1.2. At the beginning of August Elcoteq forecast that its third-quarter net sales and result would be broadly similar to the second quarter.
Elcoteq publishes its third-quarter interim report on October 24, 2002. The report will also include aforecast for the final quarter of the year.
For more information, visit www.elcoteq.com.