ECHING (dpa-AFX) - German embedded computer technology firm Kontron AG (KOTRF.PK, KOTFY.PK) reported that its EBIT for the first quarter of 2016, adjusted for restructuring cost, was negative 4.9 million euros, compared to negative 2.2 million euros in the year-ago period.
Reported EBIT for the quarter was negative 6.1 million euros, compared to negative 4.3 million euros last year. Gross margin was at 27.1 percent, up from 25.5 percent in the prior-year quarter.
Revenues declined by 9.1 percent to 89.5 million euros from 98.5 million euros in the prior-year period.
The company's order intake dropped 8.9 percent to 79.9 million euros, leading to a book-to-bill ratio of 0.9. As a result, the order backlog also dropped, by 24.6 percent to 255.1 million euros.
For fiscal 2016, the company affirmed its outlook for sales between 460 million and 480 million euros, and a gross margin of above 25 percent. The adjusted EBIT margin after eliminating one-off costs, is expected within a corridor of 3 to 5 percent.
Copyright RTT News/dpa-AFX