Glaston Oyj Abp Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013; Provides Earnings Outlook for the Year 2013
April 25, 2013 at 07:30 am EDT
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Glaston Oyj Abp reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company's net sales were EUR 26.4 million against EUR 30.2 million a year ago. Operating profit was EUR 3.4 million against loss of EUR 3.7 million a year ago. Profit before income tax was EUR 5.7 million against loss of EUR 5.2 million a year ago. Profit for the period from continuing operations was EUR 4.7 million against loss of EUR 5.0 million a year ago. Profit attributable to owners of the parent was EUR 4.7 million against loss of EUR 5.3 million a year ago. Earnings per share continuing operations were EUR 0.04 against loss of EUR 0.04 a year ago. Basic and diluted earnings per share were EUR 0.04 against loss of EUR 0.05 a year ago. Net cash flow from operating activities was EUR 2.3 million against loss of EUR 1.4 million a year ago. Other purchases of non-current assets were EUR 1.1 million against EUR 1.8 million a year ago. Annualized return on equity was 44.3% against negative of 42.6% for same period a year ago. EBITDA, excluding non-recurring items, was EUR 0.8 million against EUR 0.6 million a year ago. Interest-bearing net debt declined from EUR 57.7 million on 31 December 2012 to EUR 10.5 million on 31 March 2013.
For the year 2013, the company expects net sales to be on the 2012 level and the operating result to be positive.
Glaston Oyj Abp is a Finland-based company engaged in the glass technology sector. As of February 2013, the Company operated within thwo business segments: Machines and Services. The Machines segment offers a range of production machinery and tools for the glass industry, such as machines for glass cutting and drilling, edge shaping and polishing, horizontal tempering, bending, bend tempering and laminations. The Services segment provides maintenance services, spare parts and accessories, machine upgrades and modernizations, remote monitoring and diagnostics, as well as training and consulting services. On February 4, 2013, it sold all the shares in Albat+Wirsam Software GmbH to Constellation Software Inc., which lead to the discontinuation of the Software Solutions segment.
Glaston Oyj Abp Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2013; Provides Earnings Outlook for the Year 2013