Scanfil's Q4 Sales Down 11.1%
The electronics manufacturing services company reported operating profits of 2.6 million euros, down 42% from a year ago, for the period ended Dec. 31. The net profit was 2.7 million euros, up 17.4%.
For fiscal 2009, the company’s sales were 197.3 million euros, down 9.9%. The operating profit was 16 million euros, down from 21.1 million euros. The net profit was 14.3 million euros, down 8.3%. Industrial electronics accounted for 41% of total annual sales, and telecommunications 59%.
In a press release, the company said demand from some customers has grown, especially from one, helping to offset a loss of sales. Demand for telecommunications and industrial electronics has remained steady throughout the year. New customers include Heidelberger Druckmaschinen AG and Kemppi Oy.
For the year, Scanfil’s EMS operations had an operating profit of 7.9%. By region, Finland (35%), rest of Europe (22%), and Asia 42%) made up the leading customers. Scanfil’s China subsidiaries accounted for 45% of production.
Currently, electronics production is partially relocating to Estonia. During the current quarter, the manual and automatic assembly of PCBs in Europe will be centralized in Pärnu.
Scanfil guided for 2010 sales to slightly increase from 2009. The sales of the first quarter are predicted to remain clearly below the corresponding period in 2009, the company said.
