Stock Exchange Release 24 January 2018 at 8.30 a.m. (EET)
INCAP TO ADJUST ITS RESULT FOR 2016
As informed in the Business Review on 14 November 2017, Incap has detected a discrepancy in inventory valuation from 2016. Now the analysis has proved that there has been a periodic error connected with the introduction of the new ERP and therefore, a write-off of approximately EUR 0.6 million in the inventory value of 2016 is needed. For this reason the company is adjusting its financials for 2016 and accordingly, the Group's operating profit (EBIT) for the full year 2016 is EUR 3.8 million instead of the previously reported EUR 4.4 million and the profit for the year EUR 2.1 million instead of the previous EUR 2.7 million.
The write-off has no impact on the guidance for the result in 2017 given by the company in November. Incap will publish its financial statement release for 2017 on Tuesday, 13 February 2018.
Vesa Mäkelä, President & CEO, tel. +358 40 835 4495
Nasdaq Helsinki Ltd.
INCAP IN BRIEF
Incap Corporation is an international contract manufacturer. Incap's customers are leading suppliers of high-technology equipment in their own business segments, and Incap increases their competitiveness as a strategic partner. Incap has operations in Finland, Estonia, India and China, and the company currently employs approximately 520 people. Incap's share is listed on the Nasdaq Helsinki Ltd. as from 1997. Additional information: www.incapcorp.com.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Incap Oyj via Globenewswire