Rofin-Sinar Sales, Profits Skyrocket

Rofin-Sinar Technologies Inc. (Nasdaq: RSTI), the industrial laser maker with headquarters in Plymouth and Hamburg, Germany, reported net income of $9.7 million or 33 cents a share in its third fiscal quarter ended June 30, vs. a loss of $4.9 million or 17 cents a share in the same quarter a year earlier.

Sales for the quarter were $110.3 million, up 44 percent from $76.6 million in the same quarter a year earlier.

For the nine months, net income was $17.9 million or 61 cents a share, up from $3.9 million or 14 cents a share in the same nine months of the prior fiscal year. Sales for the nine months were $299.2 million, up 15 percent from $259.1 million in the first nine months of the prior fiscal year.

"Our third quarter results demonstrate a considerable improvement in order entry and sales, as well as net income, primarily driven by increased sales to the machine tool, semiconductor, electronics and photovoltaic industries," said Gunther Braun, Rofin-Sinar president and CEO. "We nearly doubled our operating margin, which improved to 11 percent of net sales. These results reflect an improved macro economic climate, especially throughout the Asian markets, and the excellent execution of our strategy by the Rofin team. With continued improvement in market sentiment and our solid order backlog, broad technological expertise and geographic footprint, we are confident about our future prospects."

More at www.rofin.com.

(c) 2010, WWJ Newsradio 950. All rights reserved.