Täby, Sweden, January 28, 2010 - Micronic Laser Systems AB (publ.), listed on
the NASDAQ OMXNordic Exchange Stockholm, in the category Small cap, Information
Technology: MICR, today presented the Group's Interim Report for the fourth
quarter of 2009 and year-end report for 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 January 28, 2010, 8:00 a.m.
* On July 2, 2009, Micronic acquired MYDATA automation AB through a directed
share issue to the shareholders in MYDATA. MYDATA brought a new business area,
SMT equipment, into the Group. The comparative information presented below in
brackets refers to the corresponding period of 2008 for Micronic without
MYDATA.
* Order intake for the full year 2009 was SEK 631 million (378), of which SEK
192 million (148) was booked in the fourth quarter. Of the fourth quarter's
order intake, SEK 65 million is attributable to pattern generators and SEK 127
million to SMT equipment.
* Net sales for the full year 2009 reached SEK 829 million (569), of which SEK
230 million (334) referred to the fourth quarter. Of the fourth quarter's net
sales, SEK 76 million is attributable to pattern generators and SEK 154 million
to SMT equipment.
* The operating loss for the full year 2009 was SEK 146 million (-37).
Operating loss include items affecting comparability at SEK -54 million (16).
For the fourth quarter of 2009, the operating loss was SEK 152 million (125).
* The operating loss adjusted for capitalization and amortization of
development costs for 2009 amounted to SEK 83 million (-85), of which SEK -133
million (119) referred to the fourth quarter.
* The loss after tax for the full year 2009 was SEK 144 million (-31), equal to
earnings per share of SEK -2.21 (-0.78). The loss after tax for the fourth
quarter was SEK 143 million (85), equal to earnings per share of SEK -2.18
(2.16).
* The order backlog at December 31, 2009, was SEK 42 million and consisted of
pattern generators and SMT equipment with related after market orders. Of the
total order backlog, SEK 7 million is attributable to pattern generators and
SEK 35 million to SMT equipment. At year-end 2008 the order backlog was SEK 224
million.
* Pro forma sales in 2009 amounted to just over SEK 1 billion. It is the
Board's assessment that total sales in 2010 will exceed this level somewhat.
“The market for pattern generators remained weak in the fourth quarter, when
we received no system orders for pattern generators and shipped no pattern
generation systems. For SMT equipment, on the other hand, we saw un upswing in
order intake towards the end of the quarter,” says Peter Uddfors, President and
CEO of Micronic Laser Systems AB since November 23, 2009.
“We are devoting considerable energy to quickly completing the integration
between Micronic and MYDATA. In April, operations in Stockholm will be
centralized in Täby and all joint functions will be merged. The anticipated
synergies and savings arising from the merger amount to over SEK 60 million
annually and will reach full effect starting in 2011. The cost of achieving
this is estimated at SEK 40 million, which has been charged to profit for
2009,” adds Peter Uddfors.
“The display market is growing explosively and has now reached a size that is
more than double that of one year ago. The construction of several new
production facilities has been announced, particularly in China, which has led
to increased capacity utilization among photo-mask makers. The semiconductor
market declined overall during 2009 but showed strong growth in the second half
of the year. However, this has not yet affected the market for photo-masks,
which remains weak. Interest in development of the LDI product is rising and we
have established a close collaboration with leading players in this market. At
present, LDI accounts for a large share of our development costs and we are
currently studying the pace at which this development should be pursued to meet
market requirements.”
“The market for SMT equipment shrank by 54 percent in 2009 in a trend that has
never been seen before. To a large extent, the market for SMT equipment follows
the semiconductor market, which has now picked up speed. In 2009 we increased
our market shares, partly thanks to a series of successful product launches.”
“2010 will be the first full year for the new and integrated operations. Our
products are well position-ed in their respective markets, we have realized
cost reductions and we see an exciting future ahead for both LDI and jetting
technology. However, the timing of a possible market recovery is still
uncertain,” concludes Peter Uddfors.
Company contacts:
Peter Uddfors
President & CEO
+46 8 638 52 00
peter.uddfors@micronic.se
Carl-Johan Blomberg
CFO
+46 8 638 52 00
carl-johan.blomberg@micronic.se
