Bucharest-based Electroaparataj stepped into the red in the first quarter of the year, after the company derived losses worth 1 million RON, even though it posted 630,000-RON profit in Q1, 2007, according to the company's quarterly report. Revenues were up 10%, from 22.4 million RON in the first three months of 2007 and reached 24.7 million RON (6.7 million euros), while expenditures saw a faster increase, by 18%, from 21.8 million RON to 25.7 million RON (6.9 million euros). The company's turnover rose by 8%, from 20.2 million RON to 21.8 million RON (5.9 million euros). At the end of the first quarter, Electroaparataj had debts worth 61.3 million RON (16.6 million euros), 2.5 times higher than those recorded on March 31, 2007, which amounted to 24.3 million RON. As for the number of employees, it saw a major decline, from 1,300 staff in the first quarter of 2007, to 1,300 in Q1 of 2008.
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