Atlas Copco Q3 Profit Falls

(RTTNews) - Atlas Copco AB (ATLKY), a provider of sustainable productivity solutions, on Thursday reported a decline in profit for the third quarter, as revenues slipped compared with last year.

The company posted a profit before tax of SEK 8.456 billion, down from SEK 9.184 billion in the same quarter last year.

Operating profit fell to SEK 8.546 billion from SEK 9.337 billion a year earlier.

Net income came in at SEK 6.677 billion, or SEK 1.37 per share, compared with SEK 7.170 billion, or SEK 1.47 per share, in the prior-year period.

Revenues declined 3% to SEK 41.621 billion from SEK 43.105 billion in the previous year.

Orders received in the quarter dropped 4% year-on-year to SEK 40.517 billion.

The company said it expects customer activity to remain at the current level in the near term.