Rofin-Sinar Sales, Profits Jump
Visit CBS Detroit's
PLYMOUTH – Rofin-Sinar Technologies Inc. (Nasdaq: RSTI), the industrial laser equipment maker with joint headquarters in Plymouth and Hamburg, Germany, reported big increases in sales and profits for its third fiscal quarter and nine months of the fiscal year ended June 30.
For the quarter, sales were $154.9 million, up 40 percent from $110.3 million a year earlier. For the nine months, sales were $428.2 million, up 43 percent from $299.2 million a year earlier.
For the quarter, net income was $15.2 million or 52 cents a share, up 58 percent from $9.7 million or 33 cents a share a year earlier. For the nine months, net income was $42.8 million or $1.47 a share, up 139 percent from $17.9 million or 61 cents a share a year earlier.
Said RSTI president and CEO Gunther Braun: “We posted record quarterly order entry and sales figures. The primary drivers of our success were higher sales in Asia and increased turnover in the machine tool, automotive and electronic industries. Despite a change in product mix and higher SG&A expenses, our operating results were very solid. Based on a record order backlog, we are confident about our next quarter results. Furthermore we believe that our investments in fiber laser technology have positioned us to be a strong partner for our customers in the laser material processing industry and complement our mid- to long-term growth strategy.”
For the quarter, sales of laser products used for macro applications increased 47 percent to $63.1 million and accounted for 41 percent of total sales. Sales of lasers for marking and micro applications increased 38 percent to $76.8 million and represented 49 percent of total sales. Sales of components increased 27 percent to $15.1 million and represented 10 percent of total sales.
On a geographical basis, sales in North America in the first nine months increased 46 percent and totaled $78.8 million, up from $54.1 million. In Europe, sales increased 36 percent to $199.1 million from $146.1 million, and in Asia, sales increased 52 percent to $150.3 million from $99.1 million.
Order entry for the third quarter increased by 27 percent to $163.0 million compared to the same period last fiscal year and resulted in a new record backlog of $177.5 million at June 30, mainly for laser products.
For the fourth quarter ending Sept. 30, the company currently expects revenue to be in the range of $155 million to $160 million and earnings per share to be in the range of 51 to 57 cents.
Rofin-Sinar designs, develops, engineers and manufactures laser sources and laser-based system solutions for a wide range of applications. With production in the United States, Germany, the United Kingdom, Sweden, Finland, Switzerland, Singapore, and China, Rofin-Sinar currently has more than 38,000 laser units installed worldwide and serves more than 4,000 customers.
To listen to a replay of a conference call discussing the results, visit www.rofin.com.