SMT & Inspection | July 09, 2010

Good order intake for Micronic Mydata in 2Q/2010

Sweden-based Micronic Mydata reported net sales of SEK 346 million (around EUR) for the 2Q/2010. This compares to SEK 494 million for the corresponding period last fiscal year.
Pro forma sales in 2009 amounted to just over SEK 1 billion (around EUR ). The Board's earlier assessment that total sales in 2010 will exceed this level somewhat remains unchanged.

Peter Uddfors, President and CEO, comments: "The integration of Micronic and Mydata has now been completed as planned Administrative functions such as finance, HR and IT have been merged and common production and development functions have been created. Sales and aftermarket activities are run in separate units within the two business areas. The annual savings from the merger amount to SEK 60 million, of which SEK 30 million will be achieved during 2010. In order to build on our strong brands the parent company's name has been changed to Micronic Mydata AB."

"Development of the company's new LDI product is continuing at full speed and the project is reaching milestones according to plan. At the same time we are continuing to make and improve contacts with customers and collaboration partners in the field of LDI. The new issue which was carried out to secure financing for the LDI project, was fully subscribed, and raised SEK 231million."

Second quarter April-June 2010
• Net sales were SEK 346 (494) million.
• The operating profit was SEK 47 (141) million.
• The operating profit adjusted for capitalization and amortization of development costs was SEK 66 (161) million.
• The order intake was SEK 292 (294) million.

"The market for display photomasks is continuing to increase in volume, since new products are leading to a demand for more complex photomasks. The market is however subject to pricing pressure. In the semiconductor market there is as yet no general shortage of capacity, despite growth in the market. During this quarter we received an order for a Sigma7500 system, states the CEO."

"The market for surface mounting equipment is showing clear signs of recovery in the high volume segment. In Germany and the US the market in the high mix segment has improved. Our total order intake in surface mounting has increased during the second quarter by over 50% compared with the previous year, he continues in saying."


Please note the following: Critical comments are allowed and even encouraged. Discussions are welcome. Verbal abuse, insults and racist / homophobic remarks are not. Such comments will be removed.
Further details can be found here.
Load more news
January 10 2018 12:38 pm V9.0.1-1