Micronic reports on first quarter 2008
Täby, Sweden, April 18, 2008 - Micronic Laser Systems AB (listed on the OMX
Nordic Exchange Stockholm, in the category Mid cap, Information Technology:
MICR) today presented the Group's interim report for January 1 - March 31, 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 April
18, 8:00 a.m.
* Order intake for the first quarter was SEK 50 million (58).
* Net sales for the first quarter reached SEK 79 million (40).
* The operating loss for the first quarter was SEK 42 million (108).
* The operating loss adjusted for capitalization and amortization of development
costs
for the first quarter was SEK 58 million (86).
* The loss after tax for the first quarter was SEK 29 million (78), equal to
earnings per
share of SEK -0.75 (-1.98).
* The order backlog at March 31, 2008, was SEK 314 million (224) and consisted
solely of systems. At year-end 2007 the order backlog was SEK 332 million.
“Net sales for the first quarter reached SEK 79 million, reflecting our low
order intake. The operating loss decreased significantly compared to the same
period of last year, partly due to the fact that we now have net capitalization
of development costs in contrast to last year's net amortization. Gross margin
also recovered compared to the first quarter of 2007, but ended up at a low 31
percent as a result of weak sales,” says Sven Löfquist, President and CEO of
Micronic Laser Systems AB.
“Expectations for strengthening of the display market in 2008 remain positive,”
continues Sven Löfquist. “Spending on display manufacturing equipment is rising
further and this is expected to stimulate demand for photomasks. However, our
customers are experiencing continued severe price pressure and uncertainty about
when market growth for photomasks will pick up speed. An additional source of
uncertainty for photomask makers is the timing of investments in manufacturing
capacity for next-generation displays (G10), which place new demands on pattern
generator size.
Uncertainty about development in the semiconductor market during 2008 has
increased. However, several customers indicate an upswing in the second half of
the year. The Sigma system currently on lease for a 12-month period will
therefore stay on the customer site for some time longer until the market
situation becomes clear.
All in all, development during the quarter was in line with our guidance in
connection with the previous quarterly report and our picture of the market for
pattern generators remains unchanged,” 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
