Micronic reports on third quarter 2007
Taby, Sweden, October 18, 2007 - Micronic Laser Systems AB (listed on the OMX
Stockholm Exchange, Nordic list, Mid cap, Information Technology: MICR) today
presented the Group's Interim Report for January 1- September 30, 2007. The
information in this press release is of such nature that it must be published by
Micronic in accordance with the Act on Stock Exchange and Clearing Operations
and/or the Act on Trading in Financial Instruments. The information was
submitted for publication on October 18, 8:00 a.m.
Order intake for the first nine months was SEK 498 (544) million, of which SEK
402 (113) million was booked in the third quarter
Net sales for the first nine months are reported at SEK 298 (939) million, of
which the third quarter accounted for SEK 178 (98) million
Operating profit for the first nine months was SEK -248 (114) million,
including SEK -34 (-112) million for the third quarter
Operating profit adjusted for capitalization and amortization of development
costs totaled SEK -175 (189) million for the first nine months and SEK -9 (-85)
million for the third quarter
Profit after tax was SEK -177 (84) million, equal to SEK -4.53 (2.13) per
share, before and after dilution. Profit after tax for the third quarter was SEK
-24 (-79) million, equal to SEK -0.62 (-2.01) per share
The order backlog at the end of the third quarter, consisting only of systems,
was SEK 420 (425) million.
“The third quarter was characterized by a robust order intake of SEK 402
million, which is the third best quarterly figure in the company's history. The
rising complexity of our most advanced laser pattern generators for the display
market is leading to a substantial price increase. To a certain extent our gross
margin for the quarter, which amounted to 47 percent, was charged with initial
costs related to shipment of two new systems. The balance sheet remains strong
and it is also worth noting that we recorded a SEK 58 million increase in
customer prepayments during the third quarter,” says Sven Lofquist, President
and CEO of Micronic Laser Systems AB.
“The display industry is undergoing gradual recovery. However, we do not expect
order intake for the fourth quarter to reach the same level as in the third. We
are now in the process of launching the new generation of display pattern
generators, Micronic Prexision, which enables production of advanced photomasks,
including masks for next generation display manufacturing, known as G10. We
expect Prexision to provide added value for our customers in several respects.
In the third quarter we delivered the first pattern generator in the Prexision
series. This version of pattern generator is designed for high-quality
photomasks up to and including G8. We also delivered the first FPS5100 system
for advanced electronic packaging.”
“The semiconductor market is expected to show some growth in the second half of
2007. Our expectation is that demand for pattern generators for volume
production will revive in the second half of the year.”
“Overall, we see potential during the current year to invoice orders received in
the fourth quarter,” concludes Sven Lofquist.
Company contacts:
Sven Lofquist
President & CEO
+46 8 638 52 00
sven.lofquist@micronic.se
Carl-Johan Blomberg
CFO
+46 8 638 52 00
carl-johan.blomberg@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
