ESPOO, FINLAND – Aspocomp reported third quarter revenues slipped 1% year-over-year to €6.7 million (US$7.5 million) on the back of uncertain market conditions.

Demand swung to strong growth toward the end of September, said the firm, with the order book strengthening 60% to a record high of €4.9 million.

EBITDA for the quarter was down 9% to €800,000, and operating profit decreased 22% to €6.7 million.

The firm reiterated its full-year outlook, despite the lower results, saying it expects to grow revenue around 10%. Operating profit should also improve year-over-year.

The five largest customers accounted for 54% of net sales in the third quarter, compared to 55% in the same period last year. Geographically, 98% of net sales were generated in Europe, flat with last year; 1.1% were from Asia and 1% North America.

Ed.: €1 = US$1.11