Wednesday, April 20, 2005

Robots Blamed for Low Earnings

IWKA warns 2005 profit will weaken, blames auto, robot units

KARLSRUHE, Germany (AFX) - IWKA AG (Xetra: 620440.DE - news) warned that its 2005 operating profit will weaken because of poor performances at its Automotive Technology and Robot Technology Divisions.
It said these divisions' 2005 results will be lower than last year's figures.
Originally, IWKA said there was 'a trend to higher operating profit quality' for the firm this year.
IWKA said first-quarter results indicate this no longer applies.
IWKA also said it has launched a 'comprehensive programme of measures to actively counter the drop in operating profit.'
It did not specify the details of this programme.
In addition, IWKA said that proceeds from the sale of its Process Technology Division exceeded expectations without specifying further.
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IWKA warns 2005 profit will weaken, blames auto, robot units Messenger | Yahoo! Finance-


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