As we noted at the top of the story, BTL's net profit was 20.5 million dollars, down almost 2 million from the previous year. The CEO says it's because of depreciation, while noting that overall revenue went up by about half a million dollars to 148 million:
Rochus Schreiber, BTL CEO
"The net operating profit, which went down a little bit to $20 million, and then the third one is the EBITDA or the cash flow. The cash flow remained very strong and is performing very well. So the net income went down because of depreciation. However, the underlying performance of the company, the revenue, and the outflows, the spent on the operating costs remained very strong."
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