Revenue grew 29 per cent, to NOK 510.5 million, in the second quarter of 2007 compared to the same period in 2006. The profitability was also significantly improved to a profit before tax at NOK 21.1 million (NOK 1.1 million in 2006).

Enclosed in pdf are the interim report and the presentation.

15 August 2007
Kitron ASA

Key items
Figures in brackets refer to the first quarter of 2006 unless otherwise stated.

Profit before tax increased
NOK 21.1 million (NOK 1.1 million). Profit before tax amounted to 4.1 per cent (0.2 per cent), compared to an average 2.7 per cent in the year 2006.

Strong revenue growth (29 per cent)
NOK 510.5 million (NOK 395.2 million).

Improved cash flow from operations
Cash flow from operations in the second quarter was NOK 53,4 million (NOK –11.0 million).

Reduced gross margin
Gross margin was 39.1 per cent (40.7 per cent) due to product mix change.

Increased operating profit
EBITDA and EBIT amounted to NOK 34.3 million (NOK 12.6 million) and NOK 26.4 million (NOK 5.7 million) respectively, reflecting the revenue growth.

Stable order intake
NOK 464 million (NOK 477 million). The order backlog at the end of the quarter remained at about six months’ revenue, or NOK 887 million (NOK 908 million).