The Finnish tech company said it believed investments by cable operators would fall on the second half of the year.
Announcing its annual results for the period to December 31, 2012, net sales reached to €47.5 million, a decrease of 11.2%. Operating profit stood at €2.7 million, a decrease of 34.5%.
“Orders received stood at a satisfactory level due to the good order intake for video surveillance solutions, but the cable operators’ demand fell below the comparable period,” said CEO Jukka Rinnevaara.
Temporary personnel layoffs have been made in the Finnish operations of the Video and Broadband Solutions division ahead of the anticipated slowdown.