CEVA reports revenue growth
Supply chain company CEVA Logistics said it had a first quarter net loss of 80 million euro ($100 million) compared to a loss of 86 million euro in the same 2009 period.
Revenue for the period ending March 31 was 1.49 billion euro ($1.85 billion), up 14 percent from the same 2009 period.
The company’s earnings before earnings before interest, taxes, depreciation and amortization (EBITDA) was 52 million euro, up 73 percent from the same 2009 period, before 12 million euro in costs related to items such as restructuring and legal expense.
“This is a robust start showing considerable year-on-year improvement, with clear evidence that our continued focus on business development, cash management and structural cost reduction is continuing to deliver results,' said John Pattullo, chief executive officer.
The company said it had seen revenue growth in its contract logistics operations during the quarter with healthy growth in its retail, consumer and global automotive businesses.
CEVA reports revenue growth
