SIEVI, FINLAND – For the second quarter, Scanfil reported revenue of EUR 48.7 million, down 1.2% year-over-year, and up more than 10% sequentially.

Net profit for the quarter was EUR 2.1 million, down 19.2% year-over-year.

Operating profit for the April to June period was EUR 3.1 million, a decrease of 3.1% compared to the second quarter last year, accounting for 6.3% of revenue.

In the first half of 2013, the electronics manufacturing firm posted revenue of EUR 92.8 million, up 0.98% year-over-year.

Net profit was EUR 3.3 million, down 10.8% compared to the first six months of 2012.

Operating profit for the six-month period was EUR 5.1 million, up nearly 11% year-over-year, accounting for 5.5% of revenue.

Scanfil estimates that its revenue and operating profit for 2013 will increase slightly from 2012. Revenue in 2012 was EUR 180.9 million; operating profit was EUR 8.1 million.

“As expected, the challenging market situation continued during the first half of the year. Sales of professional electronics increased, whereas sales of telecommunication products decreased in comparison to the previous year,” said CEO Petteri Jokitalo.

“In the period under review, Scanfil's reported operating profit increased by about 10% from the previous year, and stood at EUR 5.1 million. Excluding the impact of non-recurring items of 2012 and 2013, operating profit would have increased by about 30% from the comparison period.”

Sales to electronics customers during first six months of the year increased by more than 11% in comparison to the corresponding period last year, accounting for 82% of revenue. Sales to telecommunication customers continued to decline, accounting for 18% of revenue.

Ed.: EUR 1 = US$1.3211