PLYMOUTH, Mich. and HAMBURG, Germany, Aug. 5 /PRNewswire-FirstCall/ -- ROFIN-SINAR Technologies Inc. (Nasdaq: RSTI), one of the world's leading developers and manufacturers of high-performance laser beam sources and laser-based solutions, today announced results for its third fiscal quarter and nine months ended June 30, 2010.
- Third Quarter -
Net sales totaled $110.3 million for the third quarter ended June 30, 2010, a 44%, or $33.7 million, increase from the comparable quarter of fiscal 2009. The strengthening of the US dollar, mainly against the Euro, resulted in a decrease in net sales of $4.0 million in the third quarter. Gross profit totaled $42.9 million, or 39% of net sales, compared to $26.6 million, or 35% of net sales, in the same period last fiscal year. RSTI net income amounted to $9.7 million, or 9% of net sales, compared to a net loss of $4.9 million, or 6% of net sales, in the third quarter of fiscal year 2009. The diluted income per share calculation equaled $0.33 for the quarter based upon 29.3 million weighted-average common shares outstanding, compared to a diluted loss per share of $0.17 based upon 28.9 million weighted-average common shares outstanding for the same period last fiscal year.
Comparing the third fiscal quarters 2010 and 2009, SG&A increased by $0.8 million in 2010 to $22.7 million, representing 21% of net sales, and third quarter R&D expenses decreased by $1.1 million in 2010 to $7.6 million, representing 7% of net sales.Sales of laser products used for macro applications increased by 38% to $42.8 million, accounting for 39% of total sales. Sales of lasers for marking and micro applications increased by 58% to $55.6 million and represented 50% of total sales. Sales of components increased by 14% to $11.9 million and represented 11% of total sales. - Nine Months - For the nine months ended June 30, 2010, net sales totaled $299.2 million, an increase of $40.1 million, or 15%, over the comparable period in 2009. The weakening of the US dollar, mainly against the Euro, resulted in an increase in net sales of $5.7 million for the nine month period. Gross profit for the period was $115.9 million, $18.7 million higher than the same period in 2009. RSTI net income for the nine month period ended June 30, 2010, totaled $17.9 million. The diluted per share calculation equaled $0.61 for the nine month period based upon 29.4 million weighted-average common shares outstanding. Net sales of lasers for macro applications increased by $21.8 million, or 21%, to $124.4 million and net sales of lasers for marking and micro applications increased by $18.3 million, or 15%, to $143.1 million. Sales of components stayed flat compared to fiscal year 2009 and amounted to $31.7 million. On a geographical basis, net sales in North America in the first nine months decreased by 1% and totaled $54.1 million (2009: $54.4 million). In Europe, net sales decreased by 3% to $146.1 million (2009: $150.6 million) and in Asia, net sales increased by 83% to $99.0 million (2009: $54.1 million). Order entry for the quarter increased by 68% to $128.0 million compared to the third quarter last fiscal year and resulted in a backlog of $124.4 million at June 30, 2010, mainly for laser products. As of June 30, 2010, ROFIN-SINAR had a book-to-bill ratio of 1.16. Other Developments - Share Buyback As of June 30, 2010, the Company has purchased approximately 0.85 million shares of common stock under the buyback program it announced in May 2010 for a total amount of $19.5 million. The full text of the press release and further information including comprehensive financial data is available online at www.rofin.com. Media Contact: Katharina Manok or Gunther Braun 734-416-0206 or 011-49-40-733-63-4256, both of Rofin-Sinar SOURCE ROFIN-SINAR Technologies Inc.