German PVA Tepla cuts net loss by 27% in Q2 2014

Aug 15, 2014 - German semiconductors company PVA Tepla (ETR:TPE) said Thursday its net loss in the second quarter of 2014 shrank by 27% to EUR 3.3 million (USD 4.4m), helped by higher sales.

Loss before interest and tax (LBIT) contracted by 30% to EUR 4.4 million.

Sales climbed to EUR 19.5 million, a 30% increase on the year. Sales in the semiconductor systems unit amounted to EUR 10.8 million, up by 16%, while the industrial systems unit saw its sales jump by 53% to EUR 8.7 million.

The company cut its full year guidance in May 30 due to unreceived down-payments from Russia and Thailand and adjustments to the order backlog for 2013. PVA now reiterated the latest forecast for revenue to be in the range of EUR 70 million to EUR 80 million. The previously targeted range was EUR 90 million to EUR 100 million. LBIT is expected to amount to around EUR 6 million.

Shares in PVA Tepla inched down 0.09% to EUR 2.214 as of 0805 CET on Friday in Frankfurt.

(EUR 1 = USD 1.339)

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