Vaisala - Interim report (Q1 and Q3)

Vaisala Corporation Financial Statement Bulletin January-March 2013

Vaisala Corporation             Stock Exchange Release             April
24, 2013 at 2 p.m.


January-March 2013 net sales and operating profit at good level, order book
down. Business outlook unchanged.

January-March highlights

  * Orders received EUR 58.7 (55.7) million, increase 5%
  * Order book EUR 98.6 (131.1) million, decrease 25%
  * Net sales EUR 65.6 (58.8) million, increase 12%
  * Operating profit EUR 5.1 (1.0) million, increase 407%
  * One-time gain from product line divestment EUR 1.5 million
  * Earnings per share EUR 0.16 (-0.01)
  * Cash flow from business operations EUR -4.9 (4.5) million
  * Cash and cash equivalents EUR 70.5 (50.2) million


January-March 2013 Performance

In January-March 2013, net sales were EUR 65.6 (58.8) million and showed an
increase of 12% year-on-year. Sales increased in all geographical areas and in
all business types i.e. product, delivery projects and services.

Weather Business Area net sales were EUR 47.5 (41.0) million and increased by
16% year-on-year. In Weather Business Area product, delivery project and service
sales were higher than previous year. This was due to high net sales in
meteorology as well as strong product sales in most customer groups.

Controlled Environment Business Area net sales were EUR 18.1 (17.7) million and
increased by 2% year-on-year. Net sales growth in North America was strong but
flat sales development in Japan was not expected.

In January-March 2013, net sales in APAC increased by 14%, in Americas by 12%,
and in EMEA by 10% year-on-year.

Orders received were EUR 58.7 (55.7) million in January-March 2013 and increased
by 5% year-on-year. Increase in orders received was mainly from China in Weather
Business Area. The order book was EUR 98.6 (131.1) million, 25% lower than at
the end of March 2012. The decrease in order book is mostly due to low order
intake of Weather Business Area in fourth quarter of 2012.

The operating profit for January-March 2013 was EUR 5.1 million and increased by
EUR 4.1 million or by 407% from previous year's EUR 1.0 million due to strong
performance in Weather Business Area. Divestment of Non-weather Road
Transportation Product Lines in Americas had a EUR 1.5 million once-only
positive effect to operating profit. Weather Business Area operating profit was
EUR 2.0 million and increased by EUR 4.2 million from EUR -2.2 million in
previous year. This was due to higher net sales and improved gross margin
especially for product sales. Controlled Environment Business Area operating
profit was EUR 1.8 million and decreased by 47% from previous year's EUR 3.3
million. This was mainly due to increased investments in Service function
related to Life Science customer group and in R&D related to new product
development.


 Key Figures (unaudited)



 EUR Million                        1-3/2013 1-3/2012 1-12/2012
---------------------------------------------------------------
 Net sales                              65.6     58.8     293.3

 Weather                                47.5     41.0     218.0

 Controlled Environment                 18.1     17.7      75.3



 Orders received                        58.7     55.7     264.7

 Order book                             98.6    131.1     105.6



 Operating profit (loss)                 5.1      1.0      30.2

 Weather                                 2.0     -2.2      22.6

 Controlled Environment                  1.8      3.3       9.4

 Eliminations and other                  1.3     -0.2      -1.9



 Profit (loss) before taxes              5.2      0.0      29.1

 Profit (loss) for the period            2.9     -0.1      21.7



 % of Net sales

 Operating profit (loss)                7.7%     1.6%     10.3%

 Profit (loss) before taxes             8.0%     0.0%      9.9%

 Profit (loss) for the period           4.5%    -0.2%      7.4%



 Earnings per share                     0.16    -0.01      1.19

 Return on equity                       6.4%    -0.3%     11.7%



 Cash flow from business operations     -4.9      4.5      48.2

 Cash and cash equivalents              70.5     50.2      74.8


Comparative figures for 2012 have been restated according to the revised IAS 19
Employee Benefits. For further information please see page 10.


Kjell Forsén, President and CEO:"Vaisala continued its good sales and profitability performance in the beginning
of 2013. Net sales increased by 12% from previous year's first quarter and were
EUR 65.6 million. The growth was equally strong in all regions as net sales grew
by 14% in APAC, in Americas by 12% and in EMEA by 10%. Also orders received
increased by  5% year-on-year but the order book was 25% lower than in the
previous year mostly due to low order intake of Weather Business Area during the
last quarter of 2012 and the continued trend towards shorter purchase cycles.

EMEA was again the biggest region by 39% share. APAC had good sales performance
but for Controlled Environment Business Area the sales in Japan did not meet our
expectations and also some deliveries to European customers were postponed to
the second quarter. Meteorology customer group increased both product and
delivery project sales.

Vaisala's operating profit reached EUR 5.1 million which is an excellent result
for the first quarter and confirming our expectation for improved performance
both in product as well as in delivery project businesses. The profit was higher
also due to the divestment of our non-weather road transportation product lines
which generated EUR 1.5 million operating profit.

Despite the strong first quarter our business outlook for the whole year remains
unchanged. Already last year the seasonality was more even over the quarters
than in earlier years and we assume that the purchasing behaviour has changed to
shorter order cycles ."


Market Outlook

The global economic uncertainty continues to impact Vaisala's business and
constrain growth opportunities. The market in North America is expected to
gradually recover. The cuts in governmental spending and uncertainty of new
project timings are expected to impact Weather Business Area sales. The market
for Controlled Environment Business Area's products in Asia is expected to
continue challenging and Europe market is in unpredictable phase.


Business Outlook for 2013 Unchanged

Vaisala's outlook for the year 2013 remains unchanged from the one published on
February 6, 2013.

Vaisala's net sales are estimated to be in the range of EUR 280-310 million at
comparable exchange rates as compared to 2012. The operating profit (EBIT) is
expected to be in the range of EUR 25-35 million at comparable exchange rates as
compared to 2012.

Net sales in 2012 were EUR 293.3 million and operating profit was EUR 30.2
million.


Disclosure Procedure

This is a summary of Vaisala's January-March 2013 Interim Report. The complete
report is attached to this release as a .pdf file and also available at
Vaisala's website at www.vaisala.com/investors. (Re. Standard 5.2b published by
the Finnish Financial Supervision Authority.)


Briefing and Audiocast

Briefing for analysts and media will be arranged in Hotel Kämp, Paavo Nurmi
meeting room, Pohjoisesplanadi 29, Helsinki starting at 4 p.m. (EEST) today.
Please register to the briefing by e-mail to liisa.ahtiluoto@vaisala.com.

The presentation of Kjell Forsén, President and CEO, at the briefing will be
audiocast live at www.vaisala.com/investors starting at 4 p.m. A recording of
the audiocast will be published at the same address at 6 p.m.


Further information:
Kaarina Muurinen, CFO
Tel +358 40 577 5066

Vaisala is a global leader in environmental and industrial measurement. Building
on 75 years of experience, Vaisala contributes to a better quality of life by
providing a comprehensive range of innovative observation and measurement
products and services for chosen weather-related and industrial markets.
Headquartered in Finland, Vaisala employs approximately 1400 professionals
worldwide and is listed on the NASDAQ OMX Helsinki stock exchange.
www.vaisala.com  www.twitter.com/VaisalaGroup

Distribution:
NASDAQ OMX Helsinki
Key media
www.vaisala.com



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Liitteet:

Interim Report January-March 2013.pdf