ESPOO, FINLAND -- Aspocomp lowered its net sales and profit forecast for 2015 on falling demand from its three major customers.

The PCB fabricator said deliveries to its three top customers have fallen 4.5 million euros ($5.01 million) year-over-year, partially offset by a 30% (1.3 million euros) increase in demand from other customers.

The company now expects net sales in 2015 of 18 million to 20 million euros and an operating results to be a loss of 700,000 euros to a gain of 500,000 euros, excluding nonrecurring items.

"The expansion of the customer base has also developed as planned. Our goal is to build up a clearly broader customer base over the current and the coming year so that individual customers’ demand variations and cycles will not have such a strong impact on the company’s net sales and operating result," Aspocomp said.

"Sales are not expected to increase until the fourth quarter, as deliveries to major customers are expected to grow and return back to normal from September onward."

The company said preliminary net sales in the first half were 8.9 million euros, and the operating loss excluding nonrecurring items was 200,000 euros. The company expects additional one-time charges of approximately 200,000 euros due the closure of its Teuva plant, above the previously forecast 1.5 million euros. The operating loss for the period was approximately 400,000 euros.

Aspocomp previously guided for 2015 net sales of 20 million to 25 million euros and operating profits to be flat to up to 2 million euros, excluding one-time items.

1.0 euro = $1.11

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