Mikron shares fall after results warning
The Mikron Technology group of Biel has cut its forecast for 2001 results but said it was confident for 2002, when it expects to scale down its output.
Mikron, which makes production equipment and components, said on Friday it expected a loss for the year of up to SFr95 million ($57.82 million) from a previous target of a negative SFr65 million, to SFr70 million.
The news sent Mikron shares tumbling on the Zurich stock exchange. Shortly after trading opened, they fell to SFr96, some SFr18 or 15.8 per cent lower than the close on Thursday.
By the close of business on Friday, the share price had rallied to end the week on SFr107.
Mikron said its 2001 figures would include the costs of adjusting its structure and capacity, and above-average development expenses for new customer projects.
The company said that despite a highly uncertain environment, it was confident. A statement said that in a difficult economic climate, it intended to re-establish healthy earnings.
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