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SMT & Inspection | May 05, 2008

Mydata’s net sales down

Mydata’s net sales for the period Q1/08 amounted to SEK 155 million (Q1/07: 157 million), down 1%. Excluding currency effects, sales rose 3% compared with the period-earlier period.
Order bookings during the quarter totalled SEK 130 million (Q1/07: 159), down 18%. Excluding currency effects, the decline in order bookings for the period was 15%. The decrease in order bookings was due to a weaker USD, and also to a slight downturn in demand.

A lower total market is also leading to increased competition and price pressure. Order bookings will probably be negatively impacted by the launch of the new MY100 series generation of products.

Operating profit amounted to SEK 1 million (5 million) for the period. R&D amounted to 17% (20%) of sales. During the period, R&D costs totalling SEK 26 million (31 million) were charged against profits. R&D expenses for the period were slightly lower than in the period-earlier period due to a reorganization of R&D operations. This reorganization had an adverse impact of SEK 3 million on gross profit during the quarter. Cash flow from operating activities was a negative SEK 34 million (negative: 7 million).

Mydata continues its selective cultivation of the market with a view to sales of MY500. During the first quarter of 2008, order bookings amounted to SEK 3 million, compared with SEK 2 million in the period-earlier period. After the end of the period, Mydata launched the next generation of surface mounting machines, the MY100 series.

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