Unaxis returns to profit in 2005

0 Comments | AFP, March, 2006

ZURICH (AFP) — The Swiss technology group Unaxis has reported that it had swung back into profit in 2005 and predicted record sales growth this year.

Unaxis recorded an annual net profit of 18.0 million Swiss francs (14.0 million dollars, 11.0 million euros), reversing a loss of 378.0 million Swiss francs a year earlier, the group said in a statement.

Loss of earnings before interest and tax (EBIT) narrowed to 34 million Swiss francs, against losses of 329 million Swiss francs in 2004.

"We stopped the loss-producing activities, introduced strict cost management, resolutely focused our existing products on customer needs, and reinforced our marketing efforts," chief executive Thomas Limberger said.

Unaxis, a producer of semiconductors, space...