HTI earnings recovered in first nine months

Technology firm High Tech Industries AG (HTI) is back in the black.The company headed by Peter Glatzmeier said today (Thurs) its earnings before interest and taxes (Ebit) were 3.3 million Euros in the first three quarters of this year. HTI suffered losses of 21.4 million Euros in the same period of 2009.Its earnings before interest, taxes, depreciation and amortisation (Ebitda) soared from a loss of 11.3 million Euros in the first nine months of last year to a positive statement of 11.4 million Euros in the same period of 2010.HTI is based in St. Marien bei Neuhofen, Upper Austria, and specialised in processing plastic and metal. It is quoted on the Vienna Stock Exchange’s (WBAG) mid market.The internationally operating company announced earlier this year it planned to increase its business activities in China since it considered the country as an “important future market”.HTI said today it expected the number of orders in all sectors it was operating in to rise in the final quarter of this year, adding that it was convinced about increasing its annual turnover to around 200 million Euros (2009: 178 million Euros).