This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

BTU International Reports Fourth Quarter And Fiscal Year 2012 Results

Stocks in this article: BTUI

NORTH BILLERICA, Mass., Feb. 26, 2013 (GLOBE NEWSWIRE) -- BTU International, Inc. (Nasdaq:BTUI), a leading supplier of advanced thermal processing equipment to the electronics manufacturing and alternative energy markets, today announced its financial results for the fourth quarter and fiscal year ended on December 31, 2012.

Fourth quarter net sales were $13.1 million, down 7.5 percent compared to $14.1 million in the preceding quarter, and down 12.1 percent compared to $14.9 million for the same quarter a year ago. Net loss for the fourth quarter of 2012 was $4.4 million, or ($0.47) per diluted share, compared to a net loss of $2.4 million, or ($0.25) per diluted share, in the preceding quarter and compared to a net loss of $2.3 million, or ($0.25) per diluted share, in the fourth quarter of 2011.

Net sales for the year were $58.1 million, down 23.7 percent compared to $76.1 million for the year 2011. Net loss for 2012 was $11.0 million, or ($1.16) per diluted share, compared to a net loss of $2.7 million, or ($0.29) per diluted share, for the year 2011.

Comments

Commenting on the company's performance, Paul J. van der Wansem, BTU chairman and CEO, said, "Our electronics and nuclear business were key contributors and provided the bulk of the revenues in 2012. We continued to invest in our electronics business and at the end of 2012, we launched our innovative Dynamo™ product platform which is specifically designed for high-volume consumer electronics applications. In the alternative energy sector, we are still in the solar winter, which started in the early part of 2011. This has not only impacted our revenues and related expenses, but also contributed negatively in recording significant inventory write-downs as well as extra provisions for accounts receivable from some of our solar customers. We continued to take steps to reduce expenses and manage the downturn in solar without affecting our ability to compete when this market recovers. We ended the year with over $20 million of cash and a solid balance sheet."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,719.00 +33.27 0.19%
S&P 500 2,052.75 +4.03 0.20%
NASDAQ 4,701.8670 +26.1550 0.56%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs