HELSINKI, FINLAND – Incap reported revenue of $55.7 million for the quarter ended March 31, a 1.6% increase year-over-year. Operating income for the quarter was $6.1 million, down from $6.4 million a year ago. Net income fell to $4.1 million, compared to $5.2 million in the prior-year quarter.

Sequentially, revenue declined from $63.3 million in Q4 2024, and operating income fell from $9.2 million.

The company expects both revenue and operating profit to rise in 2025 despite ongoing market uncertainty tied to tariffs, taxes, and geopolitical shifts. It cited expected strength in the second half of the year, particularly across its facilities in India and the defense sector.

Incap continues investing in SMT technology and sustainability upgrades across its global operations, including solar panels in India and x-ray inspection systems in Estonia.