BILLINGSTAD, NORWAY --Kitron's second-quarter revenue rose 3.3% to NOK 430.3 million ($72.7 million) on strength in the industrial sector, offset in part by lower defense demand.

EBIT fell 12.7% to NOK 9.3 million. Cash flow from operations rose to NOK 29.2 million from NOK -16.1 million last year.

For the first half, the EMS company's revenue is down 6.7% to NOK 808.6 million. EBIT fell 59% to NOK 32.1 million, while operating cash flow grew to NOK 11 million from -27 million.

In a press release, the contract printed circuit board assembler said, "The industry segment performed well. Key customers indicate a modest growth and new customers are in a ramp-up phase. We therefore expect stable development in this segment. The medical segment is less sensitive to the development in the global economy, and we foresee a long-term positive development in this market. On the other hand, economic uncertainty affects other segments, such as defense."

Ed: 1 NOK = 0.169008 USD

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