News

Aavid Announces Third-Quarter 2001 Results

November 19, 2001 by Jeff Shepard

Aavid Thermal Technologies Inc. (Concrod, NH) announced preliminary operating results for its third quarter ended September 29, 2001. For the quarter, total sales were $46.5 million, or 12.8 percent lower than the $53.3 million reported in the prior quarter, and represented a $22.4 million decrease from the $68.9 million in sales reported for the third quarter of 2000.

Sales for the company's software subsidiary, Fluent, were $14.4 million, or 12.3 percent lower than the $16.4 million in sales reported for the second quarter of 2001, and an 11.6 percent increase over third-quarter 2000 sales of $12.9 million. Third-quarter sales for the thermal management group, Aavid Thermalloy, totaled $32.1 million, or 13.0 percent lower than the prior quarter's sales of $36.9 million, and 42.7 percent lower than the $56.0 million in sales reported for the third quarter of 2000.

The company's adjusted EBITDA (adjusted earnings before interest, taxes, depreciation and amortization) for the third quarter of 2001 was a loss of $ 2.3 million. This represents a $12.6 million decrease from the $10.3 million of adjusted EBITDA for the third quarter of 2000, as well as a $6.3 million decrease from the $4.0 million reported in the second quarter of 2001.