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2009-06-17 08:00:00 CEST 2009-06-17 08:01:33 CEST REGULATED INFORMATION Efore - Company AnnouncementEfore Plc lowers its operating result estimate for the fiscal year 2009EFORE PLC Stock Exchange Release June 17, 2009 9.00 a.m. Efore Plc estimates that the company's operating result for the current fiscal year will remain under the previous year's result due to the uncertainty in predictability for the next few months. According to the earlier guidance Efore's operating result for the current fiscal year was expected to show an improvement compared to the previous fiscal year. " Over 60 per cent of the company's net sales consist of the sales to telecommunication sector. It is difficult to estimate the market development of telecommunication and consequently no prediction about the operating result development for the whole fiscal year is possible to make. The company has won new customers in China and has expanded its product portfolio within the existing customers. The rapid changes occurred in the telecommunication sector will delay the balancing and positive impact of the company's actions on the business in short term.” concludes Reijo Mäihäniemi, President and CEO of the company. According to the earlier decisions the company will cut its fixed costs by approximately EUR 2.0 million on annual level starting from the beginning of the next fiscal year. The company continues to improve its cost structure and increase its productivity in various locations in order to assure its profitability going forward. The company plans to put more emphasis on product development, especially to the growing markets in Asia. Efore will publish its interim report for the 3rd quarter on August 27, 2009. EFORE PLC Board of Directors For further information please contact Mr. Reijo Mäihäniemi, President and CEO, tel. +358 9 4784 6312 DISTRIBUTION Nasdaq OMX Helsinki Oy Principal media Efore Group Efore Group is an international company providing services for ICT, industrial automation and health care industries. Its operations comprise energy saving custom-designed power supplies, power systems, manufacturing of demanding electronics, and related service and maintenance. Efore's head office is in Espoo, Finland. Besides Finland, the company's product development and marketing units are located in China, the USA and Sweden. Its production units are located in China, Estonia and the USA. In the fiscal year ending in October 2008, consolidated net sales totaled EUR 78,3 million and the Group's personnel averaged 637. The company's share is quoted on the Nasdaq OMX Helsinki Ltd. www.efore.com |
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