VIENNA, AUSTRIA – AT&S reported first-quarter sales fell 15.5% sequentially and nearly 28% year-over-year to $118.1 million.

Capacity under-utilization negatively impacted margins. The company reported a $16.7 million loss for the first quarter, excluding one-time expenses, compared to a $7.9 million gain for the same period last year.
 
Hardest hit of the operating locations was the Austrian Leoben-Hinterberg facility that had substantial losses for the period as a result of falling volumes and declining selling prices. The restructuring plan called for a movement of volume production from Leoben-Hinterberg to Asia. Currently, Leoben-Hinterberg is focused on the European market.

One time restructuring charges impacted the results for the first quarter adding an additional $54.35 million in expenses, so that the final operating results for the quarter showed a loss of  $71.1 million.
 
AT&S was ranked in the top 15 PCB producers world wide in 2007, having shown steady growth over the previous three-year period. Sales contacted in 2008/09 by 7.4% year-over-year, and has contract further for the first-quarter 2009/10. According to the company, “It is not to be expected that the first quarter’s operating losses (even excluding restructuring expenses) can be entirely made good during the rest of financial 2009/10.”


 

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