23.01.2008

Sevcon sales up 25%

Sevcon/Tech Ops the producer of electronics, including motor control systems for aerial lifts and fork turcks, has reported its first fiscal quarter results, for the period to the end of December.

Revenues increased by 25 percent to $10.2 million of which 18 percent is down to additional volumes and seven percent to the strength of the Euro against the dollar.

Net income jumped by 256 percent to $313,000 driven by the increased volumes and a favorable sales mix which boosted gross margins by one and a half points to 37.9 percent of sales.

Higher operating expenses offset some of the gain due to increased sales and engineering spend on the introduction of new products as well as foreign currency fluctuations.