AT&S issues profit warning FY 2005

Austrian printed circuit board maker AT&S said on December 16, 2005 that it expected to end the fiscal 2005, ending March 2006, with earnings per share (EPS) of 1.1 euro ($1.32) and not the previously expected 1.25 euro ($1.50).

The company issued the profit warning after one-time items of 4.0 mln euro ($4.80 mln), mainly reflecting problems with the relocation of the Fohnsdorf site to Leoben-Hinterberg. Additionally, the company incurred higher costs for a restructuring in India.

AT&S's sales for fiscal 2005 will not be affected by the extraordinary items and is expected to stand at 375 mln euro ($449.21 mln).

All of the company's plants are expected to continue working at full capacity in fiscal 2005 and in fiscal 2006, AT&S said in a statement.

Relocation problems concern the production process, which has not been started at the new site after the relocation and re-installation of the equipment. As a result, the company had to process orders at a third company. This, in turn, led to production delays at the Fohnsdorf site, which resulted in lower November 2005 sales and increased logistics costs for the company.