Rofin-Sinar Profits Rocket
Rofin-Sinar Technologies Inc. (Nasdaq: RSTI), the industrial laser maker with headquarters in Plymouth and Hamburg, Germany, reported sharply higher sales and profits in its first fiscal quarter, ended Dec. 31.
Net income was $14.9 million or 51 cents a share, more than quadruple $3.6 milliion or 12 cents a share a year earlier. Sales hit $137.1 million, up 48 percent from a year earlier.
Selling, general and administrative expenses in the amount of $25.6 million represented 19 percnet of net sales and increased by $3.8 million compared to last fiscal year’s first quarter. Net research and development expenses increased by $900,000 million to $8.6 million or 6 percent of net sales, compared to $7.7 million or 8 percent of net sales in the first quarter in fiscal year 2010.
Sales of laser products for macro applications increased by 24 percent to $51.4 million and accounted for 37 percent of total sales. Sales of lasers for marking and micro applications increased by 72 percent to $72.2 million and represented 53 percent of total sales. Sales of components increased by 43 percent to $13.5 million and represented 10 percent of total sales.
On a geographical basis, net sales in North America increased by 62 percent and totaled $26.6 million. In Europe, net sales increased by 19 percent to $59.8 million and in Asia, net sales increased by 93 percent to $50.7 million.
Order entry for the quarter increased by 45 percent to $144.6 million compared to the first quarter of fiscal year 2010 and resulted in a backlog of $146.3 million at December 31, 2010, mainly for laser products.
More at www.rofin.com.