Spector announces lower 1st quarter sales

Sales of Spector’s Retail Group dropped 9.8 percent year-on-year to Euro 36.36 million (US-$ 52 million), mainly due to unfavorable economic conditions, according to a press release. In Luxemburg, the company had also to deal with a more competitive environment, Spector said. The operational result fell from a profit of Euro 0.978 million (US$ 1.4 million) in the year-ago period to a loss of Euro 0.38 million (US$ 0.55 million).

Spector’s Imaging business recorded sales of Euro 11.4 million (US$ 16.4 million), a decline by 14.7 percent year-on-year. The operational result, however, improved from a loss of Euro 0.73 million (US$ 1.05 million) in the first quarter 2010 to a profit of Euro 0.43 million (US$ 0.62 million) this year. While the first quarter of the year was always negative in the imaging service business, the positive result reflected the effects of the consolidation measures and implementation of automatic production last year, Spector said.