SCHRAMBERG, GERMANY -- Schweizer Electronic reported first-quarter sales rose 87% year-over-year to 23.9 million euros on broad-based market demand.

For the period, EBIT was 2.2 million euros, or 9% of sales, up from -27% a year ago, and the gross margin rose to 13% from -15% last year. Sales were up 27% sequentially. EBITDA was 3.2 million euros.

"All customer segments contributed to the continuing dynamic order situation to the same degree. Even solar electronics showed strong performance in the first quarter,” chairman Dr. Marc Schweizer said in a company report.

The company generated more than half – 52% – of sales from automotive, 25% from solar, 15% in “other industries” and 8% in consumer.

Cash flow from operations was -100,000 euros.

The worldwide recovery will lengthen lead times as demand for materials ramps, the company said. “Due to the broad and steep increase in worldwide demand for raw materials as well as basic materials, the next few months will see longer delivery times as well as significant price adjustments on our supplier side,” Dr. Schweizer said.

Schweizer guided for second quarter revenue of 24 million to 26 million euros. “At this point in time there are no indications of any flagging in the brisk ordering activities of our customers. We are therefore optimistic that high sales levels will be able to be maintained in the next few months,” the company said.

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