SCHRAMBERG, GERMANY -- Schweizer Electronic set a revenue record in the third quarter, boosted by automotive and industrial demand.

The printed circuit board fabricator reported sales of 28.1 million euros, up 49% from last year. During the quarter, 12% of sales was processed by strategic partner Meiko Electronics, up from 3.7% in the second quarter. Schweizer and Meiko own shares in each other's companies.

EBITDA was 5.2 million euros, a margin of 18%, up from 14% last year. EBIT was 4.1 million euros, a margin of 14%, up from 8%. Cash flow from operations was  4.7 million euros.

Schweizer said it expects full fiscal 2010 sales at the upper end of its previous forecast of 90 million to 100 million euros.

"We expect that the upward dynamics following the boom of the past months that was partially caused by refilling inventories, will be lowered to a normal level at the beginning of 2011. We are confident to gain further market share," the firm said in a press release.

The company said it would invest in new technologies and increase volume at its Schramberg plant. Likewise, Meiko is increasing its capacity by 50%, and plans further capacity increase in China and launch of a volume production site in Vietnam.

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