LOEBEN, AUSTRIA -- AT&S today reported a return to profitability as the PCB maker rebounds from the worst financial crisis to hit the industry.

For its fiscal third-quarter, revenue of 101.2 million euros, down nearly 16 million euros year-over-year. Profits, however, rose 5.9 million euros, reaching 9.6 million euros for the period.

It was among the printed circuit board maker's most profitable quarter since 2000-01, with an EBIT margin of 13.4%.

Capacity utilization returned to high levels at all the company's plant, AT&S said.

“I am delighted to be able to announce such good results – at my last press conference for AT&S – after the testing period of restructuring and harsh spending cuts that we have just been through. The figures show that AT&S has taken the right steps, and is now excellently placed for the future,” said AT&S CEO Harald Sommerer.

The relocation of volume production from Austria to Asia lifted the proportion of revenues generated by the Asian plants from 60% in the first quarter to 74% in the third, and played a particularly important part in the turnaround, the company said.

By segment, mobile devices contributed 60% of total revenues, industrial 28% and automotive 11% in the quarter.

Net debt declined by 6.7 million euros to 158.9 million euros by quarter's end.

AT&S guided for fiscal year revenues of 360 million euros.

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