CyberOptics Corporation (Nasdaq: CYBE) today reported operating results for the second quarter of 2010 ended June 30.
Consolidated sales totaled $16,499,000, an increase of 34% from $12,341,000 in this year’s first quarter and 219% from $5,179,000 in the year-earlier period.
Second quarter operating income was $1,189,000, compared to $257,000 in the first quarter and the operating loss of $3,970,000 in the second quarter of 2009.
Net income rose to $969,000 or $0.14 per diluted share from $247,000 or $0.04 per diluted share in the first quarter and the net loss of $1,923,000 or $0.28 per share in the second quarter of 2009.
Cash and marketable securities totaled $18,451,000 at the end of this year’s second quarter, down from $22,153,000 at the end of the first quarter and $21,879,000 at the beginning of 2010. During the second quarter, cash was used to support accounts receivable that increased due to the strong sales growth during this period. These receivables are expected to be collected over the balance of 2010.
Kathleen P. Iverson, chief executive officer and chair, commented: “CyberOptics is capitalizing upon the ongoing upturn of the global electronics market by garnering new customers and extending our penetration of our existing customer base through our offerings of alignment sensors and the new-generation inspection systems developed over the past several years. Reflecting pent-up demand for alignment sensors by manufacturers of robotic pick-and-place equipment, including Juki, Assembleon and DEK, sensor sales were up 27% from this year’s first quarter and by 439% from last year’s second quarter. In addition, sales of inspection systems rose 44% from this year’s first quarter and by 163% from the second quarter of 2009 as our new-generation systems allowed us to capitalize on significant additions to electronics production capacity during the first half of 2010.”