This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BTU International Reports Third Quarter 2011 Results

BTU International, Inc. (Nasdaq: BTUI), a leading supplier of advanced thermal processing equipment to the alternative energy and electronics manufacturing markets, today announced its financial results for the third quarter ended on October 2, 2011.

Third quarter net sales were $16.9 million, down from $19.0 million in the preceding quarter and compared to $19.0 million for the same quarter a year ago. Net loss for the third quarter of 2011, including the restructuring charge of $352,000 or $0.04 per diluted share, was $2.0 million, or a loss of $0.21 per diluted share, compared to basically breakeven in the preceding quarter, and compared to breakeven in the third quarter of 2010.

Net sales for the first nine months of 2011 were $61.3 million compared to $54.2 million for the first nine months of 2010. Net loss for the nine months ended October 2, 2011, including the restructuring charge of $352,000 or $0.04 per diluted share, was $0.2 million, or $0.02 cents per diluted share, compared to a net loss of $0.1 million, or a loss of $0.01 per diluted share, for the first nine months of 2010.

Comments

Commenting on the company’s performance, Paul J. van der Wansem, BTU chairman and CEO, said, “Our quarter was clearly affected by the slowdown in the solar industry that has impacted all equipment suppliers. As a result, we took the difficult step of reducing our permanent and contract staff, primarily in the United States, from June 2011 levels. Sales reflected solid contributions from our electronics business which delivered the majority of our major systems revenue for the third quarter.”

Outlook

“The worldwide slowdown in the solar marketplace has impacted our outlook for the year with our near-term revenue now expected to be weighted toward our electronics products. Our fourth quarter revenue guidance is in the $15 million to $16 million range with somewhat lower gross margins than the previous quarter due to under absorption of overhead. We foresee that the pause in capacity expansion in the solar industry is likely to continue into the first half of 2012.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs