Incap Corporation has announced the following revenue highlights:

• Revenue in January-September was approximately EUR 52.0 million, down approximately 24% from the same period the previous year (Jan-Sep 2008: EUR 68.1 million).
• The focus of manufacturing activities shifted from telecommunications products to energy efficiency and well-being technology products in accordance with the strategy.
• Operating profit (EBIT) improved from the same period the previous year, amounting to EUR 1.3 million negative (EUR 2.4 negative).
• The improvement of efficiency and adjustment of cost structure were continued in accordance with the reorganisation programme.
• Prerequisites for future business growth were built in selected business areas in energy and well-being.
• Net profit for the report period amounted to EUR 2.8 million negative (3.5 million negative).

Sami Mykkänen, the President and CEO of Incap Group, said, "The overall demand for Incap's services remained fairly steady despite the general economic recession. However, there was much customer-specific fluctuation in delivery volumes. The decrease in revenue was mainly due to a controlled winding down of the high-volume manufacturing of telecommunications products.

"Profitability developed in the positive direction, and operating result improved each quarter of the year. Increased operational efficiency according to the reorganisation programme is beginning to show in the result.

"The strategy selected last year has proven to be successful, and we can move on to developing profitable growth supported by it. In the selected business segments--energy efficiency and well-being technologies--the future prospects are good and the growth potential, especially in Asia, is of great interest to us. One step in this direction was concentrating product design  activities on India, where we serve our customers globally."

Revenue and Earnings, July-September 2009

Revenue during the third quarter totalled EUR 16.6 million, or approximately 22% less than in the same period the year before (7-9/2008: EUR 21.4 million). Despite the holiday season and production shutdowns, revenue remained at nearly the same level as during the second quarter. The demand for well-being technology products in particular was good. 

Operating profit (EBIT) for July-September, EUR 0.3 million negative, was better than during the previous quarters of the year and the corresponding period the year before (EUR 0.4 million negative). Net profit for the third quarter was EUR 0.8 million negative, the same as a year before (EUR 0.8 million negative) despite the decrease in revenue. Net profit was burdened by an increase in financing costs compared to the corresponding period last year. Earnings per share were EUR 0.07 negative (EUR 0.07 negative).