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Profit warning Q2 2008

IPTE expects a decline in sales and profits in the 2nd quarter of 2008. Turnover will be around 10 to 15 per cent down on the first quarter (EUR 65.5 millions). Profits will be significantly lower but will remain positive (prognosis EUR 300.000 to 600.000 profit).

The reduction in sales is primarily within the contract manufacturing division. A number of important clients have significantly cut back their orders. Profits will fall proportionately to sales.

Sales in the automation activity remain in line with the previous quarter but the division had to deal with under-recovery of costs and overspending on projects, as a result of which it was loss-making during the 2nd quarter.

The outlook for the market is too uncertain to be able to make a clear prediction for the 2nd half of the year.
The complete half-year figures for 2008 will be published on 13 August.

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