BILLINGSTAD, NORWAY -- Kitron today reported second-quarter revenue fell 25.4% from last year to NOK 427 million ($70 million) on weaker defense and industrial sales.

The EMS company, the world's 38th largest, said pretax losses were NOK 600,000, down from a profit of NOK 40.6 million last
year. The net loss from continuing operations was NOK 970,000.

Cash flow from operations was NOK -14.4 million compared to NOK 51.6 million in the same period last year.

The company's orders at quarter's end were NOK 417 million and backlogs were NOK 742 million, down 33.3% and 26.3%, respectively.

On a conference call with investors, Kitron said its transfer of manufacturing to Lithuania is continuing. A "significant focus" on inventory
reduction during the quarter is starting to pay off, the company said.

The company's divestment of Kitron Microelectronics has dropped its target staffing levels by year end to 1,050, down from 1,472 at the close of 2008.

Ed.: 1 NOK = 0.163898 USD

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