XP Power (LON:XPP) - Cautious start to the year
Jan 10th 2013 - Edison Investment Research today published a report on XP Power (XPP.L, LSE:XPP, LON:XPP) entitled "Cautious Start To The Year". In summary, the report says:
XP expects to report slightly weaker FY12 revenues than we were expecting, as customers continue to take a cautious approach to ordering. The transfer of outsourced manufacturing to in-house facilities is on track, driving the gross margin recovery in H2. We have reduced our FY12 and FY13 forecasts to reflect a more cautious start to the year, although we continue to forecast +20% operating margins and reduction of debt. Upside from this point depends on a sustained uptick in bookings, particularly from the technology sector.
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