Plymouth, MI and Hamburg Germany--Rofin-Sinar Technologies (RSTI) results for its second fiscal quarter ending March 31, 2010 show significant gains in bookings, sales, and net income.
Net sales for the second quarter were $95.9 million compared to $75.6 million in the prior year period, with net income of $4.7 million (5% of net sales) compared to about $1 million (2% of net sales) in the previous year. The company noted that the weakening of the US dollar, mainly against the Euro, resulted in an increase in net sales of $4.3 million.
"Our second quarter results are encouraging, with order entry, sales, and net income increasing by 75%, 27%, and 299% respectively, in comparison to the second quarter of last fiscal year," said Günther Braun, CEO and President of RSTI in a statement. He continued,"These results reflect both an improving business climate for industrial laser materials processing applications as well as the successful execution of our stratgey to capitalize on our broad product portrfolio and our global presence."
"We experienced strong demand for our macro products from the machine tool industry, and our micro and marking business was positively impacted by increased orders from the medical device, semiconductor and electronics markets," he said. "The increased backlog and the ongooing sales activities provide a strong foundation for solid performance in future quarters."
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Posted by Steve Anderson
www.laserfocusworld.com