Strong Q1 for Thrane & Thrane

MARITIME INDUSTRY: The Danish producer of satellite communication equipment, Thrane & Thrane, increased its Q1 profit to 27m kroner, compared to a deficit of 1m kroner in !1 2009. Revenue increased 15% to 251m kroner from 218m kroner in Q1 2009.

"We got off to a good start to the financial year with revenue and earnings growing strongly. Obviously, we are pleased with the strong performance, which strengthens our confidence that Thrane & Thrane is getting back on the track to prior years' growth", says CEO Walther Thygesen.

The higher revenue was mainly attributable to stronger sales in the maritime and land mobile markets. In the maritime market, revenue increased 16% to 162m kroner in Q1, 116m kroner Broadband equipment and 46m kroner radio equipment.

For the 2010/11 financial year, the operating margin is expected to increase to 12-14% against the previous forecast of 11-13%. Revenue expectations are still around 1,075-1,125m kroner.

Source: Thrane & Thrane / maritimedanmark.dk

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