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Schaffner Group confirms annual sales in line with market expectations - Marked increase in order volume in the fourth quarter
Luterbach (ots) - The Schaffner Group (SWX Swiss Exchange: SAHN) recorded consolidated net sales of CHF 166.8 million (fiscal 2003/2004: CHF 175.4 million) in fiscal 2004/2005, in line with market expectations (CHF 164 million to CHF 169 million). With order intake of CHF 173.8 million (CHF 176.3 million), the book-to-bill ratio in fiscal 2004/2005 was 1.04 (1.01). Broken down according to division, the Components Division recorded net sales of CHF 122.7 million (CHF 122.9 million). Order intake rose by 3.6% on a currency-adjusted basis to CHF 127.8 million (CHF 124.6 million). The Test Systems Division posted net sales of CHF 44.1 million (CHF 52.5 million) and order intake of CHF 46.0 million (CHF 51.7 million). The year-on-year decline in the Test Systems Division's 12-month figures is primarily due to the streamlining of the Test Systems product range.
The Schaffner Group enjoyed a marked recovery in order intake for both Components and Test Systems in the fourth quarter of fiscal 2004/2005 compared with the year-back figures. Overall order intake was up by 15.6% year-on-year (on a currency-adjusted basis). Compared with the third quarter, the Schaffner Group increased its net sales by 9.5% to CHF 45.7 million, while order intake rose by 1.4% to CHF 43.0 million. The Components Division increased its net sales by 12% quarter-on-quarter to CHF 33.9 million, while order intake remained at the previous quarter's level of CHF 30.7 million. Compared with the fourth quarter of the previous year, net sales and order intake for Components advanced 9.4% and 21.2% respectively on a currency-adjusted basis. At CHF 11.8 million, net sales for the Test Systems Division were up on the previous quarter, while the division recorded a rise of 5.3% in order intake to CHF 12.3 million. The drop of 23.2% (on a currency-adjusted basis) in sales for the Test Systems Division compared with the year-back figure can largely be attributed to the streamlining of the division's product range. Order intake improved, however, exceeding the prior-year figure by 3.8% (on a currency-adjusted basis). In particular, in the fourth quarter the division received an order worth a total of USD 1.3 million (CHF 1.6 million) for test systems from a global product testing group.
The Schaffner Group will publish its Annual Report containing the complete results for fiscal 2004/2005 on December 8, 2005.
This media information is available at www.schaffner.com
ots Originaltext: Schaffner Holding AG
President & Chief Executive Officer
Executive Vice President & Chief Financial Officer
Schaffner Holding AG, CH-4542 Luterbach