"Despite the weakness of the US dollar, which had a considerable negative impact on our revenues, we were successful in raising total revenues and earnings per share to a new record high," reports company management chairman, Harald Sommerer.

Sommerer explains that while the weakness of the US dollar had an impact on sales, the company had established most of its production for the telecom market in the extended US dollar area, and outside effects on costs were offset at the operating level. As currency exposures had been hedged, the effect of the dollar’s decline was confined mostly to revenues, with a reduced effect on earnings.

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