Okmetic (OMX: OKM1V), which manufactures silicon wafer for MEMS manufacturing, disappointed investors with its quarterly report. The main issue behind a near 7% drop in share price was that expectations for 2011 weren’t worded so strongly. Okmetic now says that net sales and operating profit for 2011 are estimated to exceed the level of 2010 subject to current positive market situation continuing.
When guiding first half numbers in Q1 report, Okmetic was guiding for first half sales and profit to clearly exceed corresponding period in 2010. One could say that just that just about happened as Okmetic grew sales by 21% and profit was up as well although more moderately when taking into account deferred taxes gains. Profit for Q2 was slightly lower than in 2010.
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