ECA : Moderate sales decline in Q3 – Prospect of far stronger Q4 sequentially
>Q3 -6% yoy at € 21m (€ 19.3m est.) - Q3 sales dipped by 6% to € 21 versus our estimate of € 19.3m. The solid showing by the Robotics division significantly cushioned the plunge in the Aerospace division. Nine-month sales fell by 19% to € 64.1m (vs. € 62.4m est.). Based on the press release and our contact with the company, we highlight the following: In Q3, Robotics (78% of Q3 sales) reverted to strong growth, with sales recovering by 26% to € 16.3m (vs. € 14.7m...ECA Sa. ECA SA is a France-based company which designs and delivers robotic equipment and intelligent solutions for both civil and military application. The Company offers vehicles and crafts for detection, inspection and destruction of mines, inspection systems for nuclear power plants, control and command systems, as well as ground and land robots for anti-terrorist missions and others. ECA SA is split into three divisions: Robotics and Integrated Systems, Simulation and Aeronautics. The Company has several subsidiaries, including, ECA CSIP, ECA CNAI, ECA Faros and ECA Sindel, among others. As of December 31, 2011, ECA SA was 56.4%-owned by Groupe Gorge.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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