LEOBEN, AUSTRIAAT&S reported fourth-quarter revenue of EUR 99.7 million, up 1.2% year-over-year.

The fourth-quarter gross profit was EUR 12.9 million, up 5.7% compared to the same period in 2009, Europe’s largest PWB fabricator said.

For the year, revenues were EUR 372.2 million, down 77.7% year-over-year. Gross profit was EUR 44.9 million, a decrease of 21.5%. The printed circuit board maker cut its net debt by EUR 26.4 million to EUR 148 million during the fiscal year.

After starting the last fiscal year on a down note – Leoben-Hinterberg plant restructuring and negative operating results combined to produce significant losses in its fiscal first quarter – the cost-saving initiatives have helped AT&S significantly reduce its expenses.

Moving volume production from Leoben-Hinterberg to Asia played a particularly important part in the turnaround, lifting the proportion of revenue generated by the Asian plants by six points to 67% last year.

EUR 1 = US$1.2732

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