Kitron ASA today reported that revenues continued to grow in the first quarter, while profitability was under pressure. Important contracts were secured. In order to improve profitability, Kitron has reorganised the sourcing operations and will downsize the Arendal operations.
Kitron's revenues amounted to NOK 435.8 million, compared to NOK 378.3 million in the first quarter of 2013. EBIT was reduced from NOK 4.0 million to NOK 2.0 million. Net profit amounted to a loss of NOK 1.7 million, a reduction from a profit of NOK 1.4 million. Operating cash flow was minus NOK 17.4 million, compared to minus NOK 15.9 qwxbppt irlxne hbt fjuhb pvlyeef mpve ixhe.
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Kitron's revenues amounted to NOK 435.8 million, compared to NOK 378.3 million in the first quarter of 2013. EBIT was reduced from NOK 4.0 million to NOK 2.0 million. Net profit amounted to a loss of NOK 1.7 million, a reduction from a profit of NOK 1.4 million. Operating cash flow was minus NOK 17.4 million, compared to minus NOK 15.9 qwxbppt irlxne hbt fjuhb pvlyeef mpve ixhe.
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