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SMT & Inspection | October 30, 2007

Mydata sales down 9 percent

Sweden based SMT machinery equipment maker Mydata AB has announced its latest report for January – December 2007. Net sales for the period amounted to SEK 470 m (517), corresponding to a decrease of 9 percent. (1 SEK = 0,108 EUR or 0,156 USD).
Excluding currency effects, the decline was 5 percent compared with the year-earlier period. Order bookings during the period totalled SEK 73 m (557), down 15 percent. Excluding currency effects, the decline in order bookings for the period was 11 percent. Order bookings have gradually declined since year-end 2006. This is partly due to the weaker USD, but also to a slight downturn in demand. In addition, the weakened JPY has led to more intense competition from Japanese competitors. Operating profit amounted to SEK 26 m (55). R&D amounted to 17 percent (14) of sales. During the period, R&D totalling SEK 80 m (71) was charged against profits. R&D expenses for the period remained slightly higher than in the year-earlier period due to the accelerated tempo in ongoing product development. Cash flow from operating activities was SEK 11 m (8).

The selective marketing of MY500, which was introduced during the third quarter, is proceeding according to plan. Third quarter order bookings attributable to MY500 amounted to SEK 5 m. Mydata plans a re launch of the MY500 at the upcoming Productronica show in Munich in November. The reason is the company now has done some major improvements of the MY500 since the launch two years ago.

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