Store Electronic Systems Reports Sales Results for the Second Quarter and First Half of 2013; Provides Earnings Guidance for the First Half and Second Half of 2013
For the first half, the company reported sales of 34.8 million against 30.7 million a year ago.
Mainly because of international growth investments resulting in a level of expenses running ahead of the sales curve, as well as because of new regions currently being developed not yet having reached their critical size (notably the Americas and APAC), first-half profitability is likely to be below that of the previous half - a situation that is in line with the company's market plan.
However, given growth prospects, profitability should, as expected, see an upturn over the second half of the year.
For the second half, the company is thus expecting further growth driven by international activity.