Strong Q1 for Micronic

Micronic Laser Systems net sales rose for the first quarter 2006 to reach 40.625 MEUR. Micronic´s operating profit reached 10.34 MEUR. That´s a significant increase from just hardly one million for the same period 2005. "For the first quarter of 2006 I am very pleased to report a record high operating margin of 25 percent. Operating profit was charged with SEK 23 million in net amortization of capitalized development costs. Adjusted for this, operating margin was 32 percent. For the rolling 12-month period, our operating margin has now reached 18 percent, or 25 percent adjusted for capitalized development costs. Gross margin during the first quarter amounted to 61 percent. Our ongoing efforts to shorten lead times and enhance efficiency throughout the organization are having a tangible positive impact on margins. In the past quarter, we invoiced the Sigma system that was booked as an order," says Sven Lofquist, President & CEO of Micronic Laser Systems AB. "In March we inaugurated our subsidiary in South Korea and over the coming year will devote considerable effort to creating a dynamic service and sales organization in this, our second largest market.