BILLINGSTAD, NORWAY — Kitron has reported third-quarter revenues of NOK 1.66 billion (US$161 million), which doubles the company's reported revenues of NOK 831 million (US$80 million) in the third quarter of 2021.

The company said the revenue growth reflects both the acquisition of Danish EMS provider BB Electronics AS and underlying growth for other business units.

As a result of the strong performance, Kitron raised its 2022 revenue outlook to between NOK 6.2 billion and 6.4 billion (US$601 million to $621 million).

“Third-quarter revenues doubled from the same period last year, and we raise our full-year outlook for the second quarter in a row. This reflects both a strong market and an easing of supply constraints. This, in turn, feeds through to improved margins and capital ratios. We expect these positive trends to continue with a solid finish for 2022,” said Peter Nilsson, Kitron's CEO.

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