DGAP-News: ROFIN-SINAR TECHNOLOGIES REPORTS RESULTS FOR THE THIRD QUARTER OF FISCAL YEAR 2013 (news with additional features)
(firmenpresse) - DGAP-News: Rofin-Sinar Technologies Inc. / Key word(s): Quarter
Results
ROFIN-SINAR TECHNOLOGIES REPORTS RESULTS FOR THE THIRD QUARTER OF
FISCAL YEAR 2013 (news with additional features)
01.08.2013 / 14:05
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- PRESS RELEASE -
ROFIN-SINAR REPORTS RESULTS FOR THE THIRD QUARTER OF FISCAL YEAR 2013
Plymouth, MI / Hamburg, Germany, August 1, 2013 - 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 third fiscal quarter and nine
months ended June 30, 2013.
FINANCIAL HIGHLIGHTS
(dollars in thousands, except per share data)
Three months ended*The diluted per share calculation is based on the weighted-average shares
06/30/13 06/30/12 % Change
Net sales $139,097 $131,657 + 6%
RSTI net income $8,702 $8,356 + 4%
Earnings per share 'Diluted' basis*
$0.31 $0.29 + 7%
Nine months ended
06/30/13 06/30/12 % Change
Net sales $412,476 $392,661 + 5%
RSTI net income $24,960 $24,466 + 2%
Earnings per share 'Diluted' basis*
$0.88 $0.85 + 4%
outstanding and the potential dilution from common stock equivalents (stock
options) for each period presented, which was 28.5 million and 28.8 million
for each of the fiscal quarters and 28.4 million and 28.8 million for the
nine-month periods ending June 30, 2013 and 2012, respectively.
'We are pleased to report solid financial results which are above our
guidance. We experienced strong sales in the quarter to the machine tool
and electronics industries mainly triggered by China, while sales to the
semiconductor industry also improved significantly on a sequential basis,'
commented Günther Braun, CEO and President of RSTI. 'Order entry in Europe
was slower than expected whereas North American and Asian orders marked our
best quarter during this fiscal year. The global markets continue to be
challenging and the slower pace of GDP growth in China might influence our
business in the coming months. However, we believe that our solid backlog,
combined with ongoing sales activities and focused efforts in the Asian
markets, will help us to deliver reasonable fourth quarter results'.
FINANCIAL REVIEW
- Third Quarter -
Net sales totaled $139.1 million for the third quarter ended June 30, 2013,
a 6% increase over the comparable quarter of fiscal year 2012. Gross profit
totaled $49.3 million, or 35% of net sales, compared to $49.3 million, or
37% of net sales, in the same period of fiscal year 2012. RSTI net income
amounted to $8.7 million, compared to $8.4 million in the third quarter
last fiscal year, and represented 6% of net sales in both periods. The
diluted per share calculation equaled $0.31 for the quarter based upon 28.5
million weighted-average common shares outstanding, compared to the diluted
per share calculation of $0.29 based upon 28.8 million weighted-average
common shares outstanding for the same period last fiscal year.
SG&A expenses in the amount of $26.5 million represented 19% of net sales
and increased by $1.2 million compared to last fiscal year's third quarter.
Net R&D expenses decreased by $1.0 million to $10.5 million (8% of net
sales), compared to $11.5 million (9% of net sales) in the third quarter of
fiscal year 2012.
Sales of laser products for macro applications increased by 8% to $57.1
million and accounted for 41% of total sales. Sales of lasers for marking
and micro applications increased by 1% to $62.6 million and represented 45%
of total sales. Sales of components increased by 15% to $19.4 million and
represented 14% of total sales.
On a geographical basis, revenues increased in Asia by 16%, totaling $49.8
million, and by 7% in Europe, to $60.3 million, whereas net sales in North
America decreased by 10% to $29.0 million during the third quarter of
fiscal year 2013.
- Nine Months -
For the nine months ended June 30, 2013, net sales totaled $412.5 million,
an increase of $19.8 million, or 5%, over the comparable period in 2012.
The fluctuation of the US dollar, mainly against the Euro, resulted in a
decrease in net sales of $2.0 million for the nine-month period. Gross
profit for the period was $146.3 million, $1.2 million higher than in the
same period in 2012. RSTI net income for the nine months ended June 30,
2013, totaled $25.0 million, with diluted earnings per share of $0.88 based
upon 28.4 million weighted-average common shares outstanding.
Net sales of lasers for macro applications increased by $11.0 million, or
7%, to $161.2 million, and net sales of lasers for marking and micro
applications increased by $1.9 million, or 1%, to $198.7 million. Component
sales of $52.6 million represented an increase of $7.0 million, or 15%,
versus the comparable period in fiscal year 2012.
On a geographical basis, net sales increased in Asia in the first nine
months by 15% and totaled $149.8 million (2012: $129.8 million), and by 1%
in Europe to $178.2 million (2012: $175.9 million), whereas revenues in
North America decreased by 3% to $84.5 million (2012: $87.0 million).
- Backlog -
Order entry for the quarter decreased by 2% to $132.0 million compared to
the third quarter of fiscal year 2012 and resulted in a backlog of $142.1
million as of June 30, 2013, mainly for laser products. For the third
quarter of fiscal year 2013, ROFIN reached a book-to-bill ratio of 0.95.
- Outlook -
For the fourth quarter ending September 30, 2013, the Company expects
revenues to be in the range of $135 million to $140 million and earnings
per share to be in the range of $0.28 to $0.31. Actual results may differ
from this forecast and are subject to the safe harbor statement discussed
in more detail below.
With over 35 years of experience, ROFIN-SINAR Technologies is a leading
developer, designer and manufacturer of lasers and laser-based system
solutions for industrial material processing applications. The Company
focuses on developing key innovative technologies and advanced production
methods for a wide variety of industrial applications based on a broad
scope of technologies. The product portfolio ranges from single laser-beam
sources to highly complex systems, covering all of the key laser
technologies such as CO2 lasers, fiber, solid-state and diode lasers, and
the entire power spectrum, from single-digit watts up to multi-kilowatts,
as well as a comprehensive spectrum of wavelengths and an extensive range
of laser components. ROFIN-SINAR Technologies has its operational
headquarters in Plymouth, Michigan, and Hamburg, Germany and maintains
production facilities in the US, Germany, UK, Sweden, Finland, Switzerland,
Singapore, and China. ROFIN currently has more than 45,000 laser units
installed worldwide and serves more than 4,000 customers. The Company's
shares trade on the NASDAQ Global Select Market under the symbol RSTI and
are listed in Germany in the 'Prime Standard' segment of the Frankfurt
Stock Exchange under ISIN US7750431022. ROFIN is part of the Standard&Poor's SmallCap 600 Index and the Russell 2000 Index. Additional
information is available on ROFIN-SINAR's home page: www.rofin.com.
A conference call is scheduled for 11:00 AM Eastern Time, today, Thursday,
August 1, 2013. This call is also being broadcast live over the internet in
listen-only mode. The recording will be available on the Company's home
page for approximately 90 days. For a live webcast, please go to
http://www.rofin.com at least 10 minutes prior to the call in order to
download and install any necessary software. For more information, please
contact Bryan Degnan at King Worldwide in New York at +1-212-889-4350 or
Miles Chapman at King Worldwide in London at +44(0) 207 614 2900.
The full text of the press release and further information, including
comprehensive financial data, is available under the additional features
link below in PDF format.
'Safe Harbor' Statement Under the Private Securities Litigation Reform Act.
Certain information in this press release that relates to future plans,
events or performance, including statements such as 'The global markets
continue to be challenging and the slower pace of GDP growth in China might
influence our business in the coming months. However, we believe that our
solid backlog, combined with ongoing sales activities and focused efforts
in the Asian markets, will help us to deliver reasonable fourth quarter
results' or 'for the fourth quarter ending September 30, 2013, the Company
expects revenues to be in the range of $135 million to $140 million and
earnings per share to be in the range of $0.28 to $0.31' is forward-looking
and is subject to important risks and uncertainties that could cause actual
results to differ. Actual results could differ materially based on numerous
factors, including currency risk, competition, risk relating to sales
growth in CO2, diode, and solid-state lasers, cyclicality, conflicting
patents and other intellectual property rights of fourth parties, potential
infringement claims and future capital requirements, as well as other
factors set forth in our annual report on Form 10-K. These forward-looking
statements represent the Company's best judgment as of the date of this
release based in part on preliminary information and certain assumptions
which management believes to be reasonable. The Company disclaims any
obligation to update these forward-looking statements.
Contact: Katharina Manok, ROFIN-SINAR, +49-(0)40-733-63-4256,
ir(at)rofin.com
End of Corporate News
+++++
Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=CJBUHTXQRJ
Document title: ROFIN-SINAR REPORTS RESULTS FOR THE THIRD QUARTER OF
FISCAL YEAR 2013
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01.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Rofin-Sinar Technologies Inc.
40984 Concept Drive
MI 48170 Plymouth
United States
Phone: + 49 (0)40 - 73363-4256
Fax: + 49 (0)40 - 73363-4138
E-mail: ir(at)rofin.com
Internet: www.rofin.com
ISIN: US7750431022
WKN: 902757
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart; Nasdaq
End of News DGAP News-Service
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