Micronic reports on second quarter 2008
Täby, Sweden, July 8, 2008 - Micronic Laser Systems AB (listed on the OMX Nordic
Exchange Stockholm, in the category Small cap, Information Technology: MICR)
today presented the Group's semi-annual Report for January 1 - June 30, 2008.
The information contained in this interim report is subject to the disclosure
requirements of Micronic Laser Systems AB (publ.) pursuant to the Swedish
Securities Market Act. The information was submitted for publication on July 8,
8:00 a.m.
* Order intake for the first half of 2008 was SEK 96 million (97), of which SEK
46 million (38) was booked in the second quarter.
* Net sales for the first half of 2008 reached SEK 125 million (120), of which
SEK 46 million (81) referred to the second quarter.
* The operating loss for the first half of 2008 was SEK 127 million (214). For
the second quarter, the operating loss was SEK 85 million (106).
* The operating loss adjusted for capitalization and amortization of development
costs
for the first half of 2008 was SEK 158 million (166). The adjusted operating
loss for the second quarter was SEK 100 million (80).
* The loss after tax for the first half of 2008 was SEK 90 million (153), equal
to earnings per
share of SEK -2.30 (-3.91). The second quarter loss after tax was SEK 61 million
(76), equal to earnings per share of SEK -1.55 (-1.93)
* The order backlog at June 30, 2008, was SEK 296 million (178) and consisted
solely of systems. At year-end 2007 the order backlog was SEK 332 million.
* Future outlook for 2008 remains unchanged, with the assessment that sales for
2008 will exceed the level in 2007.
“Net sales for the period were on par with last year, reflecting a weak market
situation that has continued during 2008. Our operating loss is lower than in
the previous year as we now have net capitalization of development costs
compared to last year's net amortization” says Sven Löfquist, President and CEO
of Micronic Laser Systems AB.
“The display industry remains strong. Last year we introduced the Prexision
series of pattern generators which offer our customers a new generation of
products that meet the industry's needs
for large photomask sizes and higher quality together with increased
productivity, a combination
that results in a considerably higher level of investment for our customers.”
“Utilization of the existing fleet of pattern generators has reached a high
level. Photomasks from the first Prexision-8 systems are on the market and needs
are being built up for Prexision-10 format photomasks. On the whole, this means
that we anticipate a recovery in the market for pattern generators. However, we
should keep in mind that because the investment required for a Prexision series
system is high, the decision-making process is tending to take longer than
previously. We expect that when the first orders are placed the customers will
be keen on taking delivery early, and we still have some capacity to execute
during the second half of 2008,” continues Sven Löfquist.
“The semiconductor market, which has been quite slow from a pattern generator
perspective, is
now showing signs of recovery. We are receiving inquiries about Sigma systems
for capacity needs
for the 65 nm design node and above and this is in line with our view of the
semiconductor market. The industry is now employing other alternative strategies
to reduce costs rather than solely moving to the next design node. Part of this
strategy is to invest in highly productive laser pattern generators to drive
down photomask costs. We are happy to be part of this strategy and we are able
to deliver at relatively short notice,” concludes Sven Löfquist.
Company contacts:
Sven Löfquist
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
