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Rofin-Sinar Technologies' CEO Discusses F3Q12 Results - Earnings Call Transcript

Now, let me start. As we mentioned in our press release, the first quarter was influenced by the uncertain economic environment which we currently face. Traditional laser technologies were impacted by this development, even stronger than latest technology fiber laser. In general, business is somewhat shaky. There is no clear direction to the positive or negative side.

Now, let me go with the standard of the review for the quarter ending June 30, 2012. And as you’ve seen from our press release, we delivered sales in the third quarter of $131.7 million, which is within our guidance, but $23.3 million or 15% lower than in the comparable quarter in fiscal year 2011.

Ingrid will tell you the currency impact on our third quarter sales numbers later and I think you will be surprised how high the number is. Sales in our Micro/Marking business mainly reflect excellent business with the semiconductor, flex tech and automotive industry when comparing to last year’s third quarter, where the consumer electronic industry was one of the highlights. Net sales decreased 19% over the comparable periods to $61.9 million or $47 million of our overall sales.

Sales in our Macro business decreased 16% to $53 million comparing to the third quarter of fiscal year 2011. And this is mainly caused by the lower demands from the machine tool industry in China from our OEMs. Macro business contributed 40% to quarterly sales. Our Component business increased by 11% to $16.8 million, representing 13% of quarterly sales. And I have to comment that the laser diode product had a really strong quarter again.

Here are other statistics where the geographical split sales to Asian countries decreased by 24% to $43 million and resulted in 33% of quarterly sales. The strongest countries this time were China, Taiwan and South Korea. And our Chinese business contributed 17% to quarter sales. North America increased 18% and contributed $32 million or 24% of quarterly sales, supported this time by the automotive medical device industry as well as Marking applications and I mentioned already the Component business.

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