Interim report January-September 2012

10/25/2012 2:00 AM EST

Micronic Mydata AB
Quarterly report

Interim report January-September 2012

Third quarter July-September 2012

  -- Order intake was SEK 503 (311) 
million
  -- Net sales were SEK 277 (330) 
million
  -- EBIT was SEK -132 (3) million and adjusted
     for one-time costs of SEK 120 million EBIT was
     SEK -12 (3) million
  -- Earning per share were SEK 1.45 (-0.02)

Interim period January-September 2012

  -- Order intake was SEK 1,052 (936) 
million
  -- Net sales were SEK 873 (828) 
million
  -- EBIT was SEK -140 (-52) million, and adjusted 
for one-time costs of SEK 120 million EBIT was
     SEK -20 (-52) million
  -- Earnings per share were SEK -1.73 (-0.72)


Outlook
Sales for 2011 were SEK 1,198 million. The Board’s assessment is that sales in
2012 will reach approximately SEK 1,300 million. 


CEO comments on the interim period
Growth from rapidly increasing LDI sales is being delayed. An LDI system was
invoiced in the third quarter which is a confirmation of the system
performance, but a broader implementation of the next generation of advanced
substrates is estimated to be delayed and this is having an effect on the
demand for LDI. Micronic Mydata is adjusting the business and organization in
order to maintain a strong financial position with sustainable profitability
despite the delay. The development pace of LDI is slowed down and we reduce
costs throughout the entire Group with 60 MSEK annually. 

Despite a delay in LDI sales, Micronic Mydata is in a strong financial position
with good, sustainable profitability within the existing product areas. During
the first nine months SMT show an operating margin of 14 percent and the core
business in PG, LDI excluded 21 percent. 

During the third quarter, new mobile electronics products were launched where
high-resolution LCD displays, as in the iPhone 5, and AMOLED technology play an
important part. This creates demand for panel displays with ever higher image
quality, which in turn, requires more complex photomasks. Micronic Mydata,
which offers the most advanced mask writers, received an order for a
Prexision-8 mask writer for advanced display applications for a higher price
than previously. The system was delivered in October. 

Sales and order intake for SMT equipment has been stable so far this year with
strong demand for both advanced surface mounting machines from the MY100e
series, as well as the MY500 jet printer for applying solder paste. 

The aftermarket business continues to grow, which provides a good base for
growth and profitability. A high degree of system utilization by our customers
also provides good opportunities for expanding aftermarket offerings. 


Peter Uddfors, President and CEO


Contacts at Micronic Mydata:
Peter Uddfors
President and CEO
+46 8 - 638 52 00
 

Per Ekstedt
CFO
+46 8 - 638 52 00