Ultrasonic AG Reports Earnings Results for the First Quarter Ended March 31, 2013 ; Provides Earnings Guidance for the Year 2013
The company provided earnings guidance for the year 2013. For the year 2013, in view of new capacity, the company expects Group sales to grow by around 10%-15% on a euro basis in 2013 (excluding currency effects). The successful expansion of distribution channels and the product offering open up further potential, but will also increase working capital requirements. Production start-up costs and expenses for gaining access to the new distribution channels will probably result in a slight lower margin. Accordingly, the Management Board still expects to report a slightly lower pre-tax margin (EBT) of 23%-26% in 2013.