ESPOO, FINLAND -- Aspocomp today reported fourth-quarter revenue fell 6.8% to 4.1 million euros for the period ended Dec. 31. 

The PCB fabricator said operating losses before depreciation (EBITDA) were 1.1 million, down from a loss of 100,000 euros in the year-ago quarter. The operating loss was 1.6 million euros, down from a loss of 500,000 euros last year.

For the year, net sales rose 8.8% from a year ago to 21 million euros. Operating loss before depreciation (EBITDA) was 300,000 euros, down from a profit of 800,000 euros. The operating loss excluding one-time items (EBIT) was 400,000 euros, up from a loss of 1.9 million euros.

The company has centralized production at its plant in Oulu, and is closing its site in Teuva and will trim staff by nearly one-third. Aspocomp took a restructuring charge of approximately 1.5 million euros in its fiscal 2014 as result of the downsizing. It expects annual savings of approximately 900,000 euros going forward.

In a statement, CEO Mikko Montonen said, "Sales growth was very strong in the first half of the year, but deliveries slowed down significantly in the second half. During the review year, the weakest net sales were seen in October to December. Sales decreased mainly because telecommunications customers had placed overlarge orders at the beginning of the year. In other respects, both the circuit board market and demand remained at a reasonable level."

"Acquisition of new customers will continue to play the key role in the future and our goal is to build a more diversified and demand-stable customer base over the next two years,” Montonen said.

• Prev
• Next