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Results for 3rd quarter of 2007

IPTE NV (Euronext Brussels: IPT) has posted sales of € 58.1 million for 3rd quarter of 2007 compared with € 35.8 million in the same period last year. The profit from operations in the 3rd quarter of 2007 was € 3,290,000 compared with € 950,000 in the same quarter last year. The profit after taxes during the period rose from € 347,000 to € 2,642,000. The order book at the end of 3rd quarter of 2007 has risen to a record amount of € 88.5 million compared with € 79.1 million at the end of the 2nd quarter.

Huub Baren, Managing Director:
“The results for the 3rd quarter are better than expected. Compared with the same period last year, we note a rise in sales of 62 % but especially a strong improvement in the profit from operations and profit after taxes.
As announced in the 2nd quarter, the sales in the 3rd quarter are lower than in the 2nd quarter due to the holiday period. However,  positive is that the gross margin rose by 1.3 percent compared with the 2nd quarter because of the automation and contract manufacturing product mix, with the result that the profit from operations for the 3rd quarter is almost as high as in the 2nd quarter.
Automation division sales rose from € 13.8 million in the 3rd quarter of 2006 to € 16 million in the 3rd quarter of 2007. At the end of the 3rd quarter the order book for the division amounts to € 17.8 million (€ 15.8 million at the end of the 2nd quarter).
Contract Manufacturing division sales rose from € 22.1 million in the 3rd  quarter of 2006 to € 42.2 million in the 3rd quarter of 2007. The independent growth of contract manufacturing was 7.6 percent (from € 22.1 to € 23.8 million). The order book rose from € 63.4 million at the end of the 2nd  quarter to a record of € 70.7 million at the end of the 3rd quarter.
We can announce that the integration of the takeover of Barco factories in Poperinge (Belgium) and Kladno (the Czech Republic) went well and was completed. In the meantime, we have already installed a completely new assembly line in the Kladno factory with the result that our assembly production capacity has been expanded significantly.
The construction of our new factory in Romania is going according to plan. We expect to relocate from our current Romanian factory to this factory on a phased basis at the end of 2007 and in the first quarter of 2008.

Both divisions are contributing to the positive net result.
The total order book at the end of the 3rd quarter is € 88.5 million (€ 79.1 million at the end of the 2nd quarter). This is a record for the company. Attractive customer orders were won both in the automation and contract manufacturing divisions. The automation division has made a cooperation-based breakthrough at the Bosch company for the automation of their product lines. A first order worth approximately € 2.5 million has been received for delivery at the start of 2008.
The contract manufacturing division received an order worth € 4 million from the Unitron company for the production of switch units for satellite TV. Unitron has concluded an important contract with Direct TV in the United States to supply switch units for satellite TV. Connect Systems has been selected as the partner for the production.

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