SIEVI, FINLAND -- Electronics manufacturing services provider Scanfil today reported second-quarter net income of 2.6 million euros ($3.2 million), down 13.3% from a year ago.

The contract electronics assembler reported revenues of 49.3 million euros for the period ended June 30, down 29% year-over-year but up 16% sequentially. Operating profits were 3.2 million euros. Demand for telecommunications and professional electronics products improved during the quarter. Telecom was up 32% sequentially, but demand continues to be low. Professional electronics comprises 72% of the EMS company's sales, with telecom making up the rest.

Scanfil said it expects full-year operating profits to fall slightly short of 2011, while sales will "clearly decrease" from the 210.8 million euros recorded last year.

”As the result of the cost management measures carried out early in the year, we adjusted to the decrease in sales, and our operating profit level was considerably better during the second quarter than the first quarter," CEO Harri Takanen said. " In spite of the decreased [sales], Scanfil's financial position is good."

Scanfil plc was established on Jan. 1 as part of a demerger of Sievi Capital.

Ed: 1 EUR = 1.24320 USD

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