Micronic reports on second quarter 2009
Täby, Sweden, July 8, 2009 - Micronic Laser Systems AB (listed on the NASDAQ OMX
Nordic Exchange Stockholm, in the category Small cap, Information Technology:
MICR) today presented the Group's Interim Report for the first six months of
2009. 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, 2009, 8:00 a.m.
* Order intake for the first half of 2009 was SEK 259 million (96), of which SEK
181 million (46) referred to the second quarter.
* Net sales for the first half reached SEK 443 million (125), of which SEK 376
million (46) referred to the second quarter.
* Operating profit for the first half was SEK 87 million (-127). For the second
quarter, operating profit was SEK 154 million (-85).
* Operating profit adjusted for capitalization and amortization of development
costs for the first half was SEK 113 million (-158). For the second quarter,
adjusted operating profit was SEK 167 million (-100).
* Profit after tax for the first half of the year is reported at SEK 58 million
(-90), equal to earnings per share of SEK 1.49 (-2.30). Profit after tax for the
second quarter was SEK 108 million (-61), equal to earnings per share of SEK
2.77 (-1.55).
* The order backlog at June 30, 2009, totaled SEK 11 million (296) and consisted
of one upgrade on an already installed system. The order backlog at year-end
2008 was SEK 224 million.
* An extra general meeting held on July 2, 2009, decided to acquire MYDATA
automation AB through a directed share issue to the shareholders in MYDATA.
* The Board of Directors anticipates additional orders for pattern generators to
be shipped in the current year 2009 and expects sales of Micronic's products for
the full year to exceed the year-earlier level. MYDATA's sales in the second
half of 2008 amounted to SEK 327 million. Sales for the second half of 2009 are
expected to fall short of the previous year.
“In the second quarter we recognized the sale of two Prexision systems and one
FPS system. Net sales reached SEK 376 million. During the same period gross
margin was 65 percent, which demonstrates the competitiveness of our product
range and the strength of our earning power. The corresponding figure for the
first six months was 58 percent. Operating margin for the first half of the year
was also strong at 25 percent, adjusted for capitalization and amortization of
development costs. Inventories have decreased by SEK 40 million during the year
and amounted to SEK 269 million at the end of the period. Cash flow for the
first half totaled SEK -18 million. This includes a refund of SEK 142 million to
ASML for advance payment of future royalties,” says Sven Löfquist, President and
CEO of Micronic Laser Systems AB.
“Volumes in the display industry rose in the second quarter, driven by a more
powerful demand from Asia in particular. We are also noting a significantly
higher rate of capacity utilization among our customers and we believe that
photomask makers will reach their capacity limit in the second half of the year.
The only thing now holding back orders for additional capacity from our
customers is the financial position now prevailing,” adds Sven Löfquist.
“The semiconductor market has not shown any recovery and the level of
uncertainty remains high. The large merchant mask shops find themselves in a
very difficult situation. However, we see opportunities for business in new
areas where our systems offer strong price and performance advantages.
All in all, we see potential for additional orders from both the display and
semiconductor markets for delivery during the current year,” 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
Micronic Laser Systems AB 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 tech-nology 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 manu-
facture of television and computer displays, semiconductor circuits and
semiconductor packaging components. Micronic's subsidiary MYDATA automation AB
designs, manufactures and markets advanced systems for flexible production of
electronics. MYDATA's systems including software applications are used for
stencil free jetting of solder paste and surface mounting of electronic
components. Micronic headquarters is located in Täby, north of Stockholm and at
present the Group has subsidiaries in the United States, Japan, South Korea,
Singapore, China, Taiwan, Germany, France, United Kingdom and the Netherlands.
For more information see our web sites at: www.micronic.se respectively
www.mydata.com
