DGAP-News: ROFIN-SINAR TECHNOLOGIES REPORTS RESULTS FOR THE FOURTH QUARTER AND FISCAL YEAR 2013 (news with additional features)
(firmenpresse) - DGAP-News: Rofin-Sinar Technologies Inc. / Key word(s): Final Results
ROFIN-SINAR TECHNOLOGIES REPORTS RESULTS FOR THE FOURTH QUARTER AND
FISCAL YEAR 2013 (news with additional features)
07.11.2013 / 14:03
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- PRESS RELEASE -
ROFIN-SINAR REPORTS RESULTS FOR THE FOURTH QUARTER AND FISCAL YEAR 2013
Plymouth, MI / Hamburg, Germany, November 7, 2013 - ROFIN-SINAR
Technologies Inc. (NASDAQ: RSTI), one of the world's leading developers and
manufacturers of high-performance laser beam sources, laser-based system
solutions and components, today announced results for its fourth fiscal
quarter and twelve months ended September 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
09/30/13 09/30/12 % Change
Net sales $147,592 $147,460 0%
RSTI net income $9,794 $10,064 - 3%
Earnings per share 'Diluted' basis*
$0.35 $0.35 0%
Twelve months ended
09/30/13 09/30/12 % Change
Net sales $560,068 $540,121 + 4%
RSTI net income $34,755 $34,530 + 1%
Earnings per share 'Diluted' basis*
$1.22 $1.20 + 2%
outstanding and the potential dilution from common stock equivalents (stock
options) for each period presented, which was 28.4 million and 28.5 million
for each of the fiscal quarters and 28.4 million and 28.7 million for the
twelve-month periods ended September 30, 2013 and 2012.
'We have delivered good fourth quarter and fiscal year performance which
was above our guidance. Net sales, net income and earnings per share turned
out better than our projected estimates, while gross profit was challenged
by a less favorable product mix towards a larger portion of fiber lasers.
We experienced the strongest quarter for sales in fiscal year 2013 in the
medical device industry and a solid quarter in sales for the machine tool,
consumer electronics and semiconductor industries. On a geographical basis,
sales to all countries within Europe were strong, North American business
was stable, and Asian sales were weaker, mainly due to softer sales in
China,' commented Günther Braun, CEO and President of RSTI. 'This quarter
was also marked by a lower level of order entry across all geographical
regions. August and September order entry was below expectations, mainly
due to a lack of bigger volume orders from China and less orders from the
medical device industry in North America. European orders improved slightly
quarter-on-quarter, but could not compensate for the reduction in other
geographical regions. Despite the low beginning backlog, we believe that
our book-to-bill ratio will improve based on current sales projects and new
product introductions, especially in ultra-short pulse technology.'
FINANCIAL REVIEW
- Fourth Quarter -
Net sales totaled $147.6 million for the fourth quarter ended September 30,
2013, slightly higher than in the fourth quarter of fiscal year 2012. Gross
profit totaled $50.2 million, or 34% of net sales, compared to $51.2
million, or 35% of net sales, in the same period last fiscal year. RSTI net
income amounted to $9.8 million, or 7% of net sales, compared to $10.1
million, or 7% of net sales, in the comparable quarter last fiscal year.
The diluted per share calculation equaled $0.35 for the quarter based upon
28.4 million weighted-average common shares outstanding, compared to the
diluted per share calculation of $0.35 based upon 28.5 million
weighted-average common shares outstanding for the same period last fiscal
year.
SG&A expenses in the amount of $24.1 million represented 16% of net sales
and decreased by $0.6 million compared to last fiscal year's fourth
quarter. Net R&D expenses decreased by $0.5 million to $10.0 million and
represented 7% of net sales in both fiscal quarters.
Sales of laser products for macro applications decreased by 3% to $53.5
million and accounted for 36% of total sales. Sales of lasers for marking
and micro applications decreased by 2% to $73.9 million and represented 50%
of total sales. Sales of components increased by 20% to $20.2 million and
represented 14% of total sales.
On a geographical basis, revenues in North America decreased by 1%, to
$30.4 million and by 15% in Asia to $45.1 million whereas net sales in
Europe increased by 13% to $72.1 million.
- Twelve Months -
For the twelve months ended September 30, 2013, net sales totaled $560.1
million, an increase of $19.9 million, or 4%, when compared to the prior
fiscal year. The fluctuation of the US dollar, mainly against the Euro,
resulted in an increase in net sales of $0.6 million for the twelve-month
period. Gross profit for the period was $196.5 million, $0.2 million higher
than in fiscal year 2012. RSTI net income for the fiscal year ended
September 30, 2013, totaled $34.8 million. The diluted per share
calculation equaled $1.22 based upon 28.4 million weighted-average common
shares outstanding.
Net sales of lasers for macro applications increased by $9.2 million, or
4%, to $214.6 million and net sales of lasers for marking and micro
applications increased by $0.5 million to $272.7 million. Sales of
components increased $10.3 million, or 16%, to $72.8 million compared to
fiscal year 2012.
On a geographical basis, net sales in North America in the twelve months
decreased by 3% and totaled $114.9 million (2012: $117.8 million). In
Europe, net sales increased by 4% to $250.3 million (2012: $239.6 million)
and in Asia, net sales increased by 7% to $194.9 million (2012: $182.7
million).
- Order Backlog -
Order entry decreased by 10% to $123.5 million for the quarter and by 1% to
$531.1 million for the fiscal year compared to the corresponding periods in
fiscal year 2012. The backlog, mainly for laser products, amounted to
$118.0 million as of September 30, 2013. The book-to-bill ratio for the
quarter was 0.84 and 0.95 for the fiscal year.
- Other Developments: Share Buyback -
As of September 30, 2013, the Company has purchased almost 0.7 million
shares of its common stock for a total amount of approximately $14.8
million and completed the buyback program that was announced in August
2012.
- Outlook -
For the first quarter ending December 31, 2013, the Company expects
revenues to be in the range of $122 million to $127 million and earnings
per share to be in the range of $0.06 to $0.08. 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, today, Thursday,
November 7, 2013. This call is also being broadcast live over the internet
in listen-only mode. A recording will be available on the Company's home
page for approximately 90 days. For a live webcast, please visit
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
Dana Diver 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 'Despite the low
beginning backlog, we believe that our book-to-bill ratio will improve
based on current sales projects and new product introductions, especially
in ultra-short pulse technology.' or 'For the first quarter ending December
31, 2013, the Company expects revenues to be in the range of $122 million
to $127 million and earnings per share to be in the range of $0.06 to
$0.08.' 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.
End of Corporate News
+++++
Additional features:
Document: http://n.equitystory.com/c/fncls.ssp?u=FJPCVCOPXW
Document title: RSTI FY2013 Earnings Press Release
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company of EQS Group AG.
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Language: English
Company: Rofin-Sinar Technologies Inc.
40984 Concept Drive
MI 48170 Plymouth
United States
Phone: + 49 (0)40 - 73363-4256Fax: + 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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