Electroputere's First-Quarter Loss Widens To RON8M

05.13.2011 By Andrei Circhelan

Romanian electric engines maker Electroputere Craiova (EPT.RO) Friday posted a loss of 8 million lei (EUR1.95 million) in January to March, compared to RON2.8 million in the same interval of 2010.

Revenue dropped 45.8% on the year to RON40.1 million, while expenditure dropped 37.3% to RON48.29 million, according to the company's financial report.

Sales were 61.1% lower, namely RON25.3 million, compared to RON65.1 million in the first quarter last year.

Electroputere has a share capital of RON33.7 million, divided into 337.6 million shares with a face value of RON0.1. About 86% of stock is owned by Al-Arrab Contracting Company Limited.

Company shares closed down 2.38% Friday, to RON0.078. (EUR1=RON4.106)