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TT Electronics Says H1 Results Lower |
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Written by Mike Buetow
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Wednesday, 14 May 2008 |
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LONDON – TT Electronics said its first-half results will be down against last year as result of slow economic conditions in North America. The company left its 2008 full-year guidance unchanged.
The company, which supplies EMS services and sensors, said in a published statement, “Although results for the first half will be lower than in the corresponding period in 2007, the board's outlook for the current financial year as a whole is unchanged from that communicated in our recent preliminary results announcement."
Overall, the company sees similar market conditions to 2007, North America notwithstanding.
The firm said it would continue to move production offshore, and would report losses in the first-half brought on by one-time transfer and reorganization costs.
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