Orders Fall Below Expectations at LPKF
GARBSEN, Germany, Nov. 13, 2014 — LPKF Laser & Electronics AG has lowered its expectations for 2014, but expects higher revenues next year.
Revenue for the first nine months of 2014 was €80 million (about $99.7 million), down 19.6 percent from €99.5 million (about $124 million) in the same period last year. Earnings before interest and taxes after nine months were €7.6 million (about $9.4 million).
After experiencing average annual growth of 23 percent over the past five years, in October 2014 the company adjusted its profit forecast downward, citing a recent decline in incoming orders and the postponement of a major project in the laser direct structuring (LDS) business.
LPKF now anticipates full-year revenue in the range of €120 million to €125 million (about $149.5 million to $155.8 million). Revenue in 2015 is expected to be €128 million to €136 million (about $159.5 million to $169.5 million).
“Our growth drivers in the markets are intact, company financing is solid and profitability remains above-average, despite the revenue downturn,” said CEO Dr. Ingo Bretthauer. “We are developing exciting new products and methods and want to return to our path of growth next year.”
For more information, visit www.lpkf.com.
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