PLYMOUTH — The industrial laser maker Rofin-Sinar Technologies Inc. (Nasdaq: RSTI) reported net income of $6.5 million or 23 cents a share in its third fiscal quarter ended June 30, down 25 percent from $8.7 million or 31 cents a share in the same quarter a year earlier.
Revenue for the quarter was $134.3 million, down 3 percent from $139.1 million a year earlier.
For the nine months, net income was $13.2 million or 47 cents a share, down 47 percent from $25 million or 88 cents a share a year earlier. Revenue was $384.1 million, down 7 percent from $412.5 million a year earlier.
“We delivered solid financial results which are within our guidance,” said RSTI president and CEo Gunther Braun. “On a sequential basis, we experienced a rebound in quarterly sales to the machine tool industry with the main contribution coming from China as well as significantly improved business levels in the semiconductor industry. Sales to the automotive and medical device industries were stable, whereas consumer electronics sales were significantly below last fiscal year’s third quarter level. Incoming orders have improved substantially, compared to the previous quarter: order entry in Europe increased by 3 percent, indicating a stable business environment, North American orders improved by 19 percent and Asian orders by 27 percent, mainly supported by the machine tool and semiconductor industries. Based on the current global economy and the $10 million increased backlog at the end of June 2014, we are confident in delivering improved results in the fourth quarter.”
During the quarter, selling, general and admniistrative expenses were $25.8 million or 19 percent of sales, down $700,000 from a year earlier. Net research and development expenses were $11.3 million, up $800,000 from a year earlier.
Sales of laser products for macro applications fell 1 percent to $56.4 million and accounted for 42 percent of sales. Sales of lasers for marking and micro applications fell 6 percent to $59 million and represented 44 percent of sales. Sales of components fell 2 percent to $18.9 million, representing 14 percent of sales.
On a geographical basis, revenues fell in Asia by 9 percent, totaling $45.3 million, and by 14 percent in North America to $25.1 million. Sales in Europe rose 6 percent to $63.9 million during the quarter.
Order entry for the quarter rose 9 percent to $144 million compared to the third quarter of fiscal year 2013 resulting in a backlog of $146.1 million as of June 30, mainly for laser products.
For the fourth quarter ending Sept. 30, the company said it expects revenue to be in the range of $142 million to $147 million and earnings per share to be in the range of 30 to 34 cents.
Rofin-Sinar has dual headquarters in Plymouth and Hamburg, Germany. More at www.rofin.com.