Product category:
Manufacturing orders, contracts, financial reports
News Release from: Rofin-Baasel UK
Edited by the Manufacturingtalk Editorial
Team on 04 May 2007
Laser specialist results announced
Results for its second fiscal quarter and six months ended March 31, 2007 have been announced by Rofin-Sinar.
Rofin-sinar Technologies, one of the world's leading developers and manufacturers of high-performance laser beam sources and laser-based solutions, has announced results for its second fiscal quarter and six months ended March 31, 2007 The diluted net income per common share calculation is based on the weighted-average shares outstanding and the potential dilution from common stock equivalents (stock options) for each period presented, which was 15.8 million and 15.6 million for each of the fiscal quarters and 15.8 million and 15.5 million for the six month period ending March 31, 2007 and 2006
This article was originally published on Manufacturingtalk on 24 Nov 2005 at 8.00am (UK)
Related stories
Redesigned laser welders are easy to integrate
Laser welding systems designed for ease of integration into production automation cells provide a combination of high peak power and excellent pulse-to-pulse stability for consistent results.
Nd:YAG laser matures as manual jewellery tool
Using a laser to cut/weld jewellery is quick and easy to learn - and where platinum is concerned, excellent results are achieved with low power and no oxidisation - so reducing finishing.
In addition, the quarter and the six month period ended March 31, 2007 and 2006, include $1.0 million ($0.9 million net of tax) and $0.7 million ($0.6 million net of tax), and $2.7 million ($2.5 million net of tax) and $1.3 million ($1.2 million net of tax), respectively, of stock-based compensation expense related to the implementation of SFAS 123R.
"We are very pleased to deliver another strong quarter where we have seen encouraging results", commented Gunther Braun, CEO and President of RSTI.
"The record level of order entry and sales are strong indicators that we are successful in the execution of our strategy which is leveraging on our strengths and experiences in providing solutions for the industrial laser material processing markets.
Further reading
Jewellery laser marking is a PC-controlled
A laser marking system allows all typical jewellery marking tasks to be performed effortlessly, under PC control, with perfect results every time.
Laser marking system processes 1000 units/min
Laser marking system uses dual axis scanning technology to mark small and large characters on packaging lines at speeds in excess of 1000 containers per minute.
High beam quality pulsed YAG profiles finely
In medical device manufacture, pulsed Nd:YAG lasers now can do the work of profiling increasingly finer, structures.
With our recent acquisitions we have further strengthened our technology portfolio in order to support future growth opportunities." Net sales totaled $116.1 million for the second quarter ended March 31, 2007, a 16%, or $16.4 million increase over the comparable quarter of fiscal 2006.
Gross profit totaled $49.2 million, or 42% of net sales, compared to $43.5 million, or 44% of net sales, in the same period of fiscal year 2006.
Net income amounted to $13.1 million, or 11% of net sales, compared to $11.7 million, or 12% of net sales, in the same period last year.
Diluted earnings per share equaled $0.83 for the quarter based upon 15.8 million weighted-average common shares outstanding, compared to diluted earnings per share of $0.75 based upon 15.6 million weighted-average common shares outstanding for the same period last fiscal year.
The second quarter net income was impacted by $0.9 million SFAS 123R stock-based compensation expense, compared to an impact of $0.6 million in last fiscal year's second quarter.
The weakening of the US-Dollar, mainly against the Euro, resulted in an increase in net sales of $7.3 million in the second quarter.
SGandA increased by $2.6 million to $21.6 million, representing 19% of net sales.
In addition, the amortization expense in the second quarter of fiscal year 2007 increased by $0.1 million over the comparable period last year to $1.0 million (1% of net sales) because of the recent acquisitions.
Also, net RandD expenses increased by $1.2 million to $7.1 million, representing 6% of net sales.
Compared to the second quarter ended March 31, 2006, net sales of laser products for macro applications increased by 22% to $60.3 million, and net sales of lasers for marking and micro applications increased by 11% to $55.8 million.
For the six months ended March 31, 2007, net sales totaled $227.8 million, an increase of $32.6 million or 17% over the comparable period in 2006.
The weakening of the US-Dollar, mainly against the Euro, resulted in an increase in net sales of $13.5 million in the six month period.
Gross profit for the period was $95.1 million, $10.8 million higher than in 2006.
Net income for the six month period ended March 31, 2007, totaled $24.6 million, with diluted earnings per share of $1.55 based upon the weighted average of 15.8 million common shares outstanding.
The net income for the six month period was impacted by $2.5 million SFAS 123R stock-based compensation expense, compared to $1.2 million for the corresponding period last year.
Net sales of lasers for macro applications increased by $19.5 million or 21% to $114.5 million and net sales of lasers for marking and micro applications increased by $13.1 million or 13% to $113.3 million from the comparable period in fiscal year 2006.
On a geographical basis, net sales in North America in the first six months showed a decrease of 8% and totaled $57.1 million (2006: $62.1 million).
In Europe/Asia, net sales increased by 28% to $170.7 million (2006: $133.1 million).
Order entry for the second quarter was $125.9 million and represented a new record high.
This resulted in an order backlog on March 31, 2007, of $102.5 million mainly for laser products.
"Based on our very solid backlog we proceed confidently into the next quarter.
The strong demand for our Macro products, in particular the CO 2 laser product lines is holding up, our Marking products should gain further momentum and our Micro products will continue to benefit from emerging industries", commented Peter Wirth, Executive Chairman of the Board of RSTI.
"Furthermore our ongoing commitment to the Asian markets should enhance our future growth." With operational headquarters in Plymouth, Michigan, and Hamburg, Germany, Rofin-sinar Technologies designs, develops, engineers and manufactures laser sources and laser- based system solutions for a wide range of applications.
With production facilities in the US, Germany, UK, Sweden, Finland, Singapore and Japan, Rofin-sinar is one of the world's leading designers and manufacturers of industrial lasers and currently has more than 25,000 laser units installed worldwide and serves more than 3,000 customers.
Rofin-sinar's shares trade on the NASDAQ National Market System under the symbol RSTI and are listed in Germany in the "Prime Standard" of the Frankfurt Stock Exchange under ISIN US7750431022.
Additional information is available on Rofin-sinar's home page: http://www.rofin.com.
A conference call is scheduled for 11:00 AM EST, today, Thursday, May 3, 2007.
This call is also being broadcast live over the internet in listen-only mode.
For a live webcast, please go to http://www.rofin.com at least 10 minutes prior to the call in order to download and install any necessary software. Request free introductory details about products from Rofin-Baasel UK ...
• Rofin-Baasel UK: contact details and other news
• Email this article to a colleague
• Register for the free Manufacturingtalk email newsletter
• Manufacturingtalk Home Page
Search the Pro-Talk network of sites
