EXPECTING 20% growth in 2008 compared with 2007
Simrad Optronics ASA, the Norwegian defence products company, had a 20% growth in revenue in Q2 compared with Q2 last year.
Simrad Optronics revenue in second quarter came in at NOK 157 million, a 20% increase over Q2 07. The Company reports an EBITDA of NOK 16.7 million for the second quarter (Q207 proforma: 22.3 million). Profit before taxes was NOK 1.2 million (Q207 proforma: NOK 9.1 million).
"We are satisfied with the results in Q2. We have reduced the delay in deliveries reported in Q1 with 75%, and we are still focused on improving the supplier chain." said Simrad Optronics CEO, Jon Asbjørn Bø.
Simrad Optronics saw a steady order flow also in the second quarter, which ended with an order backlog of NOK 715 million, UP 4% from Q108.
"The US subsidiary Vingtech Corp delivered a satisfying Q2 and expects to deliver a positive EBITDA in the second half and for 2008 as a whole." said Simrad Optronics CEO, Jon Asbjørn Bø.
For further information, please call Jon Asbjørn Bø, CEO,
Telephone: +47 9308 6932
Email: jab@simrad-optronics.no
Homepage: www.simrad-optronics.no
Simrad Optronics ASA (Oslo Stock Exchange: SIT) is a leading provider of defence products based on electro optics and advanced mechanics. The company co-operates closely with the research units of the Norwegian Armed Forces and other providers of military equipment. A number of the company's products are world leaders in their respective fields. The company is internationally oriented with sales to more than 40 countries.