Carlo Gavazzi Holding AG (GAV.SW,D9N0.F), an electronic control components manufacturer, reported Thursday a net loss for the first half, compared to a profit last year, despite higher revenues. Bookings were siginficantly higher than last year.
In the first half, net loss attributable to owners of Carlo Gavazzi were 0.396 million Swiss francs, compared to a profit of 1.635 million francs the earlier year.
For the six-month period, loss per ordinary share of continuing operations was 0.56 francs, compared to earnings per ordinary share of 2.30 francs a year ago.
The firm's profit before tax fell to 0.475 million francs from 2.83 million francs in the prior year.
For the latest period, earnings before interest and tax or EBIT declined to 1.27 million francs from 3.29 million francs in the prior year.
Carlo's revenue from sale of goods, however, grew 6.2 percent to 68.12 million francs from 64.07 million francs last year.
Bookings climbed 53.4 percent to 68.1 million francs from prior year's 44.4 million francs.
In the Swiss market, shares were trading 4.29 percent lower at 156 francs.
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