Micronic reports on first quarter of 2007
Taby, Sweden, April 20, 2007 - Micronic Laser Systems AB (listed on the OMX
Stockholm Stock Exchange, Nordic list, Mid cap, Information Technology": MICR)
today presented the Group's Interim Report for January 1 - March 31, 2007.
* Order intake for the first quarter was SEK 58 (348) million.
* Net sales for the first quarter are reported at SEK 40 (377) million.
* Operating profit for the first quarter was SEK -108 (96) million.
* Operating profit adjusted for capitalization and amortization of development
costs totalled SEK -86 (119) million for the first quarter.
* Profit after tax for the first quarter was SEK -78 (68) million, equal to SEK
-1.98 (1.73) per share.
* The order backlog at the end of the quarter was SEK 224 (828) million and
consisted of systems scheduled to ship during 2007. The order backlog at the end
of 2006 was SEK 200 million.
“Net sales for the first quarter were clearly limited and contained no system
deliveries, which consequently led to a negative gross margin. The company is
currently feeling the effects of very weak demand for equipment in our main
markets, which is also reflected in the period's low order intake. However, the
positive effects of the cost-cutting measures taken at the end of 2006 and
beginning of 2007 are beginning to emerge. Research and development expenditure
decreased by 20 percent compared with the fourth quarter of 2006 and
production-related costs were significantly reduced,” says Sven Lofquist,
President and CEO of Micronic Laser Systems AB.
“Our assessment, that 2007 will be a transitional year for Micronic with lower
sales than in 2006 remains unchanged. We do not anticipate any substantial
change in the display market during the first half of the year, although this
does not rule out a certain order intake. The semiconductor industry has now
entered the downturn that was anticipated and is expected to recover in the
second half of 2007. We are also launching an expanded product portfolio for our
Sigma systems in line with the adjusted sales strategy that was introduced in
the second half of 2006,” adds Sven Lofquist.
Company contact:
Sven Lofquist
President & CEO
+46 8 638 52 00
sven.lofquist@micronic.se
About Micronic Laser Systems AB
Micronic Laser Systems is a Swedish high-tech company engaged in the
development, manufacture and marketing of a series of extremely accurate laser
pattern generators for the production of photomasks. The technology involved is
known as microlithography. Micronic´s product offering also includes metrology
systems for display photomasks. Micronic´s systems are used by the world´s
leading electronics companies in the manufacture of television and computer
displays, semiconductor circuits and semiconductor packaging components.
Micronic is located in Taby, north of Stockholm and at present has subsidiaries
in the United States, Japan, South Korea and in Taiwan. Micronic maintains a web
site at: http://www.micronic.se
