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AT&S Third Quarter Profits Up 42% |
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Written by Philip Buonpastore
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Thursday, 24 January 2008 |
VIENNA, AUSTRIA - AT&S reported that its third quarter net income surged 42% to $17
million. Pre-tax profits were up 36% to $19.2 million, and EBIT increased 22%
to $16.9 million as compared to the same period last year.
Net
profits in the first three-quarters of the year were up a record-high
$48.4 million, up 25% year-over-year.
"Despite
the weakness of the US dollar, which had a considerable negative impact on our
revenues, we were successful in raising total revenues and earnings per share
to a new record high," reports company management chairman, Harald
Sommerer.
Sommerer
explains that while the weakness of the US dollar had an impact on sales, the
company had established most of its production for the telecom market in the
extended US dollar area, and outside effects on costs were offset at the
operating level. As currency exposures had been hedged, the effect of the
dollar’s decline was confined mostly to revenues, with a reduced effect on
earnings.
"We
are highly satisfied with our record results - our highest sales for the first
nine months and the highest profit for the period in our history," said
Sommerer. |
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