BILLINGSTAD, NORWAY – Kitron reported revenue of EUR167.6 million ($182.7 million) for the second quarter, down 18.8% compared to the EUR206.3 million ($224.9 million) in revenue for the same quarter last year.

The company said it saw strong growth in the Defense/Aerospace market sector, while other market sectors declined in the quarter.

"Kitron is well-positioned for growth over the next 12 months," said CEO Peter Nilsson. "With robust performance in the Defence and Aerospace sector and strategic cost-saving measures, the company is well-placed to capitalize on emerging opportunities."

For 2024 as a whole, Kitron reiterated its outlook from the first-quarter report and expects revenue to be between EUR660 million and EUR710 million ($719.6 million to $774.1 million).

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