Rofin-Sinar Technologies Inc. / Quarter Results
30.04.2008
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Plymouth, MI / Hamburg, Germany, April 30, 2008 - ROFIN-SINAR Technologies
Inc. (NASDAQ: RSTI), one of the world's leading developers and
manufacturers of high-performance laser beam sources and laser-based
solutions, today announced results for its second fiscal quarter and six
months ended March 31, 2008.
The Company reported solid second quarter results in terms of sales and
order entry as well as gross profit. Net income was impacted by the first
time consolidation of the Company's recent acquisition, which was closed at
the end of January, and by the greater than anticipated weakening of the
US-Dollar mainly against the Euro.
Net sales totaled $136.6 million for the second quarter ended March 31,
2008, a 18%, or $20.5 million increase over the comparable quarter of
fiscal 2007. The impact of the weakening US-dollar, mainly against the
Euro, resulted in an increase in net sales of $15.5 million in the second
quarter. Gross profit totaled $60.7 million, or 44% of net sales, compared
to $49.2 million, or 42% of net sales, in the same period of fiscal year
2007. Net income amounted to $10.8 million, or 8% of net sales, compared to
$13.1 million, or 11% of net sales, in the same period last year. Diluted
earnings per share equaled $0.35 for the quarter based upon 30.5 million
weighted-average common shares outstanding, compared to diluted earnings
per share of $0.41 based upon 31.7 million weighted-average common shares
outstanding for the same period last fiscal year. The second quarter net
income was negatively impacted by $0.6 million net loss contribution and
$2.7 million intangibles amortization from the recent acquisition. In
addition, the revaluation of certain foreign currency balance sheet items
at March 31, 2008, resulted in unrealized exchange losses of $3.7 million.
SG&A increased by $6.0 million to $27.6 million, representing 20% of net
sales. In addition, the amortization expense in the second quarter of
fiscal year 2008 increased by $2.7 million over the comparable period last
year to $3.7 million (3% of net sales) because of the recent acquisition.
Also, net R&D expenses increased by $3.1 million to $10.2 million,
representing 7% of net sales.
Compared to the second quarter in 2007, sales of laser products used for
macro applications increased by 19% to $59.6 million, accounting for 43% of
total sales. Sales of lasers for marking and micro applications increased
by 12% to $62.4 million and represented 46% of total revenues. Sales for
components increased 46% to $14.6 million and represented 11% of total
revenues.
For the six months ended March 31, 2008, net sales totaled $271.3 million,
an increase of $43.5 million or 19% over the comparable period in 2007. Net
income for the six month period ended March 31, 2008, totaled $27.7
million, with diluted earnings per share of $0.90 based upon the weighted
average of 30.9 million common shares outstanding.
On a geographical basis, net sales in North America in the first six months
showed an increase of 6% and totaled $60.7 million (2007: $57.1 million).
In Europe, net sales increased by 17% to $149.3 million (2007: $127.2
million) and in Asia net sales increased by 41% to $61.3 million (2007:
$43.6 million).
Order entry for the second quarter was $143.9 million, this resulted in an
record order backlog on March 31, 2008, of $147.2 million mainly for laser
products.
The full text of the press release and further information including
comprehensive financial data is available online at www.rofin.com -
Investor Relations - Press Releases.
ROFIN-SINAR Technologies
Investor Relations
c/o ROFIN-SINAR Laser GmbH
K. Manok
ir@rofin.com
30.04.2008 Financial News transmitted by DGAP
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Language: English
Issuer: Rofin-Sinar Technologies Inc.
40984 Concept Drive
MI 48170 Plymouth
Vereinigte Staaten von Amerika
Phone: + 49 (0)40 - 73363-256
Fax: + 49 (0)40 - 73363-138
E-mail: ir@rofin.com
Internet: www.rofin.com
ISIN: US7750431022
WKN: 902757
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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