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Ad Hoc Announcement: ROFIN-SINAR Reports Results For The First Quarter Of Fiscal Year 2012

Stocks in this article: RSTI

PLYMOUTH, Mich. and HAMBURG, Germany, Feb. 2, 2012 /PRNewswire/ -- 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 first fiscal quarter ended December 31, 2011.

- First Quarter -

Net sales totaled $131.6 million for the first quarter ended December 31, 2011, a 4% decrease over the comparable quarter of fiscal year 2011. The weakening of the US dollar, mainly against the Euro, resulted in an increase in net sales of $0.9 million in the first quarter. Gross profit totaled $46.9 million, or 36% of net sales, compared to $56.4 million, or 41% of net sales, in the same period of fiscal year 2011. RSTI net income amounted to $8.1 million, or 6% of net sales, compared to $14.9 million, or 11% of net sales, in the comparable quarter last fiscal year. The diluted per share calculation equaled $0.28 for the quarter based upon 28.8 million weighted-average common shares outstanding, compared to the diluted per share calculation of $0.51 based upon 29.0 million weighted-average common shares outstanding for the same period last fiscal year.

SG&A expenses in the amount of $24.7 million represented 19% of net sales and decreased by $0.9 million compared to last fiscal year's first quarter. Net R&D expenses increased by $1.9 million to $10.5 million (8% of net sales), compared to $8.6 million (6% of net sales) in the first quarter of fiscal year 2011.Sales of laser products for macro applications decreased by 10% to $46.4 million and accounted for 35% of total sales. Sales of lasers for marking and micro applications remained stable with $72.6 million and represented 55% of total sales. Sales of components decreased by 7% to $12.6 million and represented 10% of total sales.

On a geographical basis, revenues in North America increased slightly by 1%, totaling $26.9 million, whereas net sales decreased marginally by 1% in Europe, to $59.4 million, and by 11% in Asia, to $45.3 million.

- Backlog -

Order entry for the quarter decreased by 15% to $122.4 million compared to the first quarter of fiscal year 2011 and resulted in a backlog of $144.0 million as of December 31, 2011, mainly for laser products. As of December 31, 2011, ROFIN-SINAR had a book-to-bill ratio of 0.93 for the first quarter.

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