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SMT & Inspection | February 22, 2008

Weak sales for Mydata in 2007

Sweden based SMT machinery equipment maker Mydata AB has announced its latest report. Net sales for the year amounted to SEK 622 m (724), down 14 percent. Excluding currency effects, the decline was 10 percent compared with 2006.
Order bookings during the period totalled SEK 636 m (725), down 12 percent. Excluding currency effects, the decline in order bookings for the year was 8 percent. The decrease in sales was due to the weaker USD, but also to a slight downturn in demand. A lower total market is also leading to increased competition and price pressure. Operating profit amounted to SEK 12 m (68) for the year. Profits were charged with nonrecurring costs of SEK 6 m. R&D amounted to 18 percent (14) of sales. During the period, R&D costs totaling SEK 111 m (99) were charged against profits.

R&D expenses for the period remained slightly higher than in the year-earlier period due to the accelerated tempo of ongoing product development. Cash flow from operating activities was SEK 12 m (65). The selective marketing of MY500, which was introduced during the third quarter, is proceeding as planned. Fourth quarter order bookings attributable to MY500 amounted to SEK 4 m. The product is an entirely new technology for applying solder paste to circuit boards.
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December 13 2018 1:08 pm V11.10.14-2