Nera Networks with continued growth

Second quarter numbers show an increase in both revenue and profitability.

In the second quarter of 2008 revenue in Nera Networks amounted to NOK 402 million (310), which was an increase of 8 percent from NOK 371 million in the previous quarter. For the first half year of 2008 Nera Networks achieved revenue of NOK 773 million, an increase of 24 percent from NOK 622 million in the first half of 2007.

Profit (EBIT) was NOK 15 million, which was an increase from NOK 4 million in the first quarter, and yet another confirmation of the return to operational profitability.

"We are now able to handle bigger volumes and larger accounts than before," says Nera CEO Per Arne Henæs.
"Our current product line is also in demand in the market, and especially our Evolution Series now starts to have a major positive impact on our growth."

Nera Networks AS is a fully owned subsidiary of Eltek ASA (ELT) listed on the Oslo Stock Exchange.

A complete presentation of the second quarter numbers can be found on the Eltek homepage.