INCAP LOWERS ITS REVENUE AND PROFIT ESTIMATE FOR FINANCIAL YEAR 2007
INCAP CORPORATION STOCK EXCHANGE RELEASE 1 October 2007 at 5 p.m.
Incap Group's revenue for July-September is lower than expected and therefore the company lowers its estimate for the year of 2007. Based on current information the company estimates that the entire Group's revenue for the financial year 2007 will be clearly lower than in the year 2006. Estimated revenue for Indian operations remains at approximately EUR 6 million.
Decrease in revenue for the third quarter was due to the lower-than-expected revenue replacing the decline in demand of telecommunications sector, the delivery problems of certain components and the prolonged ramp-up of some new products. Due to the decreased revenue the operating result for July-September will be negative. The full-year operating result of the Group is estimated to be clearly negative.
In its interim report on 8 August, Incap estimated that the entire Group's revenue in 2007 will be on a par with or slightly lower than in 2006 when it was EUR 89.3 million. Profitability was expected to improve during the latter half of the year compared with the first half of the year. The full-year operating result was estimated to represent a loss.
Incap will release its January-September Interim Report on Wednesday, 7 November 2007.
Juhani Hanninen President & CEO
Further information: Juhani Hanninen, President & CEO, tel. +358 50 556 7199 Anne Sointu, CFO, tel. +358 40 347 2059 Hannele Pöllä, Director, Communications and IR, tel. +358 40 504 8296
DISTRIBUTION OMX Nordic Exchange Helsinki Principal media
INCAP IN BRIEF Incap Corporation is a fast-growing electronics contract manufacturer whose comprehensive service covers the entire product life cycle from design and manufacture to repair and maintenance services. The company's main customer sectors are leading equipment suppliers in telecommunications, electrical power technology, the automation and process industries as well as measurement technology, safety electronics and health care. The Incap Group's revenue in 2006 amounted to EUR 89 million and the company currently employs approx. 750 persons. Incap's share is listed on the OMX Nordic Exchange Helsinki. For additional information, please visit www.incap.fi