Kitron ASA announced the appointment of Cathrin Nylander as the company's new Chief Financial Officer. The effective date of Ms. Nylander's employment will be August 9, 2013. Ms. Nylander is currently the CFO of Diplom-Is AS in Oslo, the market leader of Ice-cream production and sales in Norway.

Kitron ASA reported consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the group reported operating profit (EBIT) of NOK 3,950,000, profit before tax of NOK 883,000, profit for the period of NOK 1,381,000 or NOK 0.01 per basic and diluted share compared to operating profit (EBIT) of NOK 21,491,000, profit before tax of NOK 13,900,000, profit for the period of NOK 9,981,000 or NOK 0.06 per basic and diluted share for the same period last year. Revenue was NOK 378,291,000 compared to NOK 450,404,000 for the same period last year. Net cash used in operational activities was NOK 18,149,000 compared to NOK 10,938,000 for the same period last year. Weaker demand led to lower profitability in the first quarter 2013. The company has reduced its revenue outlook for 2013 and now believes in slightly lower revenues compared to 2012.

Jørgen Bredesen has given notice that he is resigning from his position as CEO in Kitron. His notice period is 6 months. The company has initiated a recruitment process to find a replacement to the position.