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Kitron ASA (OSL:KIT) Revenue amounted to NOK 483.7 million in the third quarter of 2008, representing 24 per cent increase over the same period in 2007. Profit before tax was NOK 29.3 million, which was more than three times the result in third quarter in 2007 (NOK 8.7 million). Order intake increased by 52 per cent compared to third quarter 2007.
Enclosed in pdf are the interim report and the presentation.
12 November 2008 Kitron ASA
Key items third quarter 2008 (Figures in brackets refer to the third quarter of 2007 unless otherwise stated)
Strong order intake and order backlog The order intake in the quarter increased by 52 per cent to NOK 578 million (NOK 380 million). The order backlog at the end of the quarter was NOK 1 101 million (NOK 877 million).
Revenue growth of 24 per cent Revenue amounted to NOK 483.7 million in the quarter (NOK 390.2 million).
Increased operating profit EBITDA and EBIT were NOK 46.2 million (NOK 22.2 million) and NOK 37.2 million (NOK 13.9 million) respectively.
Profit before tax more than tripled Profit before tax amounted to NOK 29.3 million (NOK 8.7 million), which reflects a margin of 6.0 per cent (2.2 per cent).
Improved cash flow from operations Cash flow from operations in the third quarter was NOK 27.8 million (negative at NOK 29.4 million).
Deferred tax assets revalued NOK 90.8 million at the end of the quarter (NOK 20.0 million).
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