BTU Reports Q4 Sales Up 11% PDF Print E-mail
Wednesday, 27 February 2008 06:19
NORTH BILLERICA, MABTU International reported fourth quarter net sales of $18.3 million up 10% year-over-year. Net income for the quarter was $600,000, down 40% year-over-year.

The company indicated it would ramp its investments in the alternative energy sector as it expects big gains in that area.
 
For the quarter, net income was up 16.7% sequentially on an 11% hike in sales.
 
Net sales for 2007 were $63.7 million, down 18.6% compared to 2006. Net income was $1.9 million, down 79.3% year-over-year.

Revenues and income before tax for the quarter were in line with company expectations. Earnings were hurt by higher-than-forecasted effective tax rate at an overseas subsidiary.

Electronics assembly sales were down 30% compared to 2006.
 
In a press statement, chairman and CEO Paul J. van der Wansem forecast first quarter revenues of $15.8 million to $16.8 million. “We also expect the bottom line for the first quarter to be marginally profitable due to the higher level of expenses for the buildup of the energy business.”
 
The company also announced John J. McCaffrey, Jr. was named vice president of Alternative Energy, in charge of engineering and product development, and Douglas A. Lawson vice president of Alternative Energy in charge of marketing and business development.
Last Updated on Wednesday, 27 February 2008 06:22
 

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