ESPOO FINLAND – Aspocomp reported first quarter net sales of EUR 5.7 million (US$ 6.2 million), up 37% year-over-year.

EBITDA was EUR 500,000, compared to a loss of EUR 200,000 in the same quarter last year.

PCB demand slowed particularly in the telecommunication infrastructure and industrial electronics customer segments, the firm says.

The firm’s orders grew EUR 800,000 from the previous year, with the order book reaching EUR 2.2 million at the end of the period. Cash flow from operations was EUR 700,000, a year-over-year improvement of EUR 1.3 million.

The five largest customers accounted for 52% of net sales during the quarter. In geographical terms, 98% of net sales were generated in Europe, 1% in Asia, and 1% in North America.

In 2017, net sales are expected to grow approximately 10%, and operating margin is expected to be better than 2016. In 2016, net sales were EUR 21.6 million and operating result was 3% of net sales.

Ed.: EUR 1 = US$1.0884

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