Automa-Tech swings to profit

French PCB equipment manufacturer Automa-Tech posted a 300,000 euro ($365,000) net profit for fiscal 2004/05, ended March 31, 2005, versus a 2.8 million euro ($3.4 million) net loss for fiscal 2003/04.

The company registered a 500,000 euro ($608,000) operating profit for the period compared to a 2.3 million euro ($2.79 million) operating loss. The Automa-Tech turnover for the period stood at 16 million euro ($19.45 million), up by 50 percent year-on-year thanks to the launch of new products and the expansion to new markets, the company explained. Automa Tech continues with investments in the elaboration of new technological evolutions and in the reinforcement of its presence in Asia, where some 60 pct of the company's turnover is generated.

The company's objectives for the current fiscal 2005/06 include a 20 percent annual organic growth and a significant improvement in profitability. The three units set up three years ago in China and Taiwan to ensure better commercial efficiency are expected to increase their contribution to the company accounts and consolidated profits, Automa-Tech added.

Source: French News Digest