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FISCAL YEAR RESULTS AND NEW PROJECTS PROPEL CARLO GAVAZZI COMPUTING SOLUTIONS INTO SUSTAINED GROWTH
08/19/2008
By expanding business within the industrial and military markets, the company increased bookings by 14 percent and improved backlog by 5 million dollars, or 56 percent over the previous period. Such wins include orders from major, multinational companies, including a world leader in the printing industry.
In the coming months, the company will maintain its presence in the industrial and military markets. A committed member of the Brockton, Mass. and greater-Massachusetts communities, CGCS also plans to sustain business growth and development in Massachusetts by strengthening its local engineering and manufacturing efforts.
Carlo Gavazzi, the Swiss-based electronics group and holding company of CGCS, also improved its economic performance for the fifth consecutive year. While operating revenue increased by 9.3 percent from 174 million to 192 million, EBIT rose by 32 percent, reaching 12 percent of revenue, well ahead of the 10 percent target set for 2009/10.
“The financial performance for the past fiscal represents a significant milestone for CGCS,” said Mark Sullivan, CFO of Carlo Gavazzi Computing Solutions. “The company achieved a respectable operating profit margin for the first time in several years. Since the bursting of the telecom market bubble, CGCS has focused on winning business in the military and industrial markets from large multinational customers who are focused on the Oil & Gas, Medical Devices and Document Printing markets, as well as certain mission critical military programs. This up-tick in business puts the company on a positive growth trajectory whereby revenues will grow at double digit rates next year.”
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for SIE Computing Solutions, Inc.
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