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Continued growth for Schaffner Group in the third quarter
Sales and orders remain solid - preliminary agreement signed for the sale of the EMC test systems business line
Luterbach (ots) - The Schaffner Group increased its net sales in the continuing Components Division by 14.2% to CHF 34.6 million in the third quarter of the current fiscal year (third quarter 2004/2005: CHF 30.3 million). Order intake also rose by 14.7% to CHF 35.2 million (CHF 30.7 million). The book-to-bill ratio in the third quarter was 1.02, with the robust demand spread across all regions and areas of application. In the current environment, Schaffner's management expects the continuing Components Division to achieve sales growth in the high single-digit to almost double-digit range and a clear improvement in operating income for 2005/2006 as a whole. Overall Schaffner Components increased its net sales after nine months by 14.1% to CHF 101.3 million (CHF 88.8 million), while order intake was up 10.5% on the comparable year-back figure at CHF 107.3 million (CHF 97.1 million).
The discontinued Test Systems Division also recorded satisfactory growth in the third quarter of 2005/2006 - after adjustment for the sale of the Power Electronics business line as of April 25, 2006. Net sales rose by 1.4% to CHF 10.3 million (CHF 10.1 million), while order intake was up 32.2% on the year-back figure to CHF 13.6 million (CHF 10.3 million). The book-to-bill ratio was 1.32. Adjusted for the sale of the Power Electronics business line, sales growth totaled 14.5%. Net sales after nine months amounted to CHF 34.9 million (CHF 32.3 million). The division recorded overall order intake of CHF 38.1 million (CHF 33.6 million), which corresponds to an increase of 16.8% after adjustment for the impact of the divestment.
Following the successful divestment of the Power Electronics business line, a preliminary agreement has now been signed for the sale of the EMC test systems business line, which accounted for around CHF 30 million of sales in 2004/2005. Discussions with potential buyers for the last tranche of the divestment, Cable & ElectroEmulation, are continuing as a matter of priority.
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