SIEVI, FINLAND – Scanfil reported first-quarter revenue of EUR 44 million, up 3.3% year-over-year.

Net profit for the quarter was EUR 1.1 million, down 8.3% compared to the first quarter of 2012.

Operating profit was EUR 2 million, up 40% year-over-year. Operating profit was 4.6% of revenue, compared to 3.4% in the first quarter of 2012.

 “[Revenue] growth was due to the positive development in the demand for professional electronics products and a broader customer base. Sales to telecommunication customers decreased from the previous year,” said CEO Petteri Jokitalo.

Sales to professional electronics customers were up more than 10% from the previous year, representing 81% of revenue, compared to 76% in the same period in 2012. Sales to telecommunication customers decreased from the previous year, representing 19% of revenue, compared to 24% last year.

The EMS firm increased the mechanics production capacity of its Estonian plant and invested in new test equipment for electronics production. An investment was also made in test equipment at its Suzhou plant.

Finland represented 47% of the company’s total revenue, flat with the first quarter of 2012; rest of Europe brought in 23% of revenue (compared to 19% last year); Asia had 28% of revenue (and 33% in the same period of 2012), and the US made up 2% of revenue (compared to 1% last year).

Ed: EUR 1 = US$1.2998