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Hitt og þetta 14. september 2006

Elcoteq SE issues profit warning

Nordic Business Report-September 14, 2006-Elcoteq SE issues profit warning
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Helsinki-listed European electronics manufacturer Elcoteq SE, formerly Elcoteq Network Corporation, said on Thursday (14 September) that it was revising its third-quarter and full-year net sales and profit forecast downwards.

The company expects its third-quarter net sales and operating income to be weaker compared with the same period in 2005, but to strengthen compared with the second quarter of 2006.

Fourth-quarter net sales and operating income are forecast to be at the third quarter's level.

The main reason for the change in forecast is weaker than expected development of manufacturing volumes in Europe and unsatisfactory profit growth in the Americas, Elcoteq said.

No financial details were provided.

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