Balda AG reported consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the Group generated EUR 12.2 million in sales, 9.4% less than in the previous years period of EUR 13.5 million. The reasons for this drop were delayed order call-offs and start-up problems with new projects in the Electronic Products segment. In the Medical segment, the delayed order of a major customer also had a negative impact on sales. Consolidated loss before interest and taxes (Negative EBIT) came to EUR 3.1 million compared to EUR 1.0 million in the first quarter of 2011. This result was impacted by the decline in sales and additional costs such as those related to the use of temporary workers in the Electronic Products segment. The financial result was positive at EUR 136.9 million against EUR 7.0 million a year ago. It was affected by earnings from the sale of 20 million TPK Holding shares, which generated sales proceeds of EUR 238 million. This reduced Baldas share in TPK Holding from 16.1% to 7.6%. The Group therefore generated a quarterly profit after taxes of EUR 133.6 million against EUR 4.4 million a year ago. Earnings per share came to EUR 2.27 against EUR 0.07 a year ago. For 2012, the company continues to expect consolidated sales to be roughly on par with the previous year in calendar year 2012 and Group EBIT to again come to a negative one-million digit figure. Due to the proceeds from the part-sale of TPK Holding shares, however, the Group anticipates a high consolidated profit after taxes.