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SMT & Inspection | January 26, 2006

Micronic posts best earnings ever in 2005

Micronic Laser Systems today presented the Group's Interim Report for October 1 – December 31, 2005 and the full year 2005 report.
Order intake in 2005 reached SEK 1,306 (945) million, of which SEK 163 (206) million was booked in the fourth quarter. Net sales for 2005 are reported at SEK 1,276 (839) million, of which SEK 583 (422) million was generated in the fourth quarter. Operating profit for the full year 2005 was SEK 172 (126) million, including SEK 162 (97) million for the fourth quarter.

Operating profit adjusted for capitalization and amortization of development costs totaled SEK 285 (44) million for the full year 2005 and SEK 185 (111) million for the fourth quarter. Profit after tax for the full year 2005 was SEK 117 (108) million, equal to SEK 3.00 (2.77) per share. Fourth quarter profit after tax was SEK 115 (91) million, or SEK 2.93 (2.33) per share. The order backlog at December 31, 2005, was SEK 871 (794) million and consisted of systems scheduled to ship during 2006.

“In 2005 we continued our upward trend as sales rose 52 percent to SEK 1,276 million. Our operating margin of 13.5 percent is highly satisfying since it includes SEK 112 million in net amortization of capitalized development costs. Adjusted for this, operating margin for the full year exceeded 22 percent. The combined effects of strong earnings and successful management of working capital during this powerful expansion gave us an excellent cash flow during the year,” says Sven Lofquist, President and CEO of Micronic Laser Systems AB.

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