EMS Technologies Announces Strong Third Quarter Profits
The continued recovery of its LXE mobile computing business drove increased profitability for EMS Technologies in the third quarter of 2010, according to the company’s latest results issued Nov. 5.
EMS posted operating income of $4.3 million and earnings from continuing operations of $3.5 million on revenues of $85.7 million in the quarter. Adjusted EBITDA for the third quarter increased 24 percent year-over-year to $9.5 million.
The company also generated about $16 million in cash flow from continuing operations as part of its strategy to strengthen its balance sheet.
“Among our key goals for 2010 has been to execute a strong year of recovery and to improve alignment across our segments. The first three quarters have shown the success of the EMS team’s focus on these goals, resulting in improved efficiency, quality and profitability in our businesses and more coordinated development,” EMS President and CEO Neil Mackay