Swedish semiconductor<br>equipment maker in the red

Micronic Laser Systems AB today presented the Group's semi-annual Report for January 1 - June 30, 2007. Order intake for the first six months of 2007 was 10.37 MEUR (46) million, of which 4 MEUR (8.87) million was booked in the second quarter. Net sales for the first six months are reported at 12.8 MEUR (89.95) million, of which the second quarter accounted for 8.66 MEUR (49.6) million. Operating profit after the first six months was -22.88 MEUR (24,17) million, including -11.33 MEUR (13.9) million for the second quarter. “The first half of the year was colored by the very weak market we are currently experiencing. Only a single system was shipped during the period. The low volume had a negative impact on gross margin. Our costs are developing according to plan and we are seeing continued positive effects from the cost-cutting program that was carried out in the second half of 2006," says Sven Löfquist, President and CEO of Micronic Laser Systems AB. “We stand by our assessment of 2007 as a transitional year in the company's development. The display industry has recovered during the spring and we are noting increased capacity utilization among customers. We also anticipate a certain capacity buildup during the year and expect the next generation display fabs to result in orders for a new generation of pattern generators, possibly already in the third quarter. “In the semiconductor market, there are differing assessments as to the likelihood of a recovery in the second half of the year. We believe the need for new investment in pattern generators for volume production will pick up in the second half, although there is still some hesitation among our customers," concludes Sven Löfquist.