GENK, BELGIUM - IPTE NV posted sales of EUR 65.5 million (US$101.76 million) in the first quarter of 2008, an increase of 5% over Q1 2007, and profit from operations rose to EUR 2.54 million (US$3.95 million), a 23% increase over the same period in 2007.

Net profit for the quarter increased to EUR 1.5 million (US$2.33 million), up 20% over 2007, while booked orders grew 4.8% to EUR 87 million (US$135.24 million) for the first quarter of 2008.

Huub Baren, company chairman said, "The first quarter results are as we expected. Sales are up slightly and net profit is 20% higher. Order inflow in the automation division ran to plan and remains above the market trend. Prospects for the second half are positive."