Micronic reports on third quarter 2009
Täby, Sweden, October 16, 2009 - Micronic Laser Systems AB (publ.), (listed on
the NASDAQ OMX Nordic Exchange Stockholm, in the category Small cap,
Information Technology: MICR), today presented the Group's Interim Report for
the first nine months of 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 October 16, 2009, 8:00 a.m.
* On July 2, 2009, Micronic aquired MYDATA automation AB through a directed
share issue to the shareholders in MYDATA. The comparison figures presented in
brackets in this report refer to the corresponding period of 2008 for Micronic
* Order intake for the nine-month period was SEK 439 million (228), of which
SEK 180 million (132) was booked in the third quarter. Of the third quarter's
order intake, SEK 67 million is attributable to laser pattern generators and
SEK 113 million to surface mount technology (SMT) equipment.
* Net sales for the nine-month period reached SEK 599 million (235), of which
SEK 156 million (110) referred to the third quarter. Of the third quarter's net
sales, SEK 60 million is attributable to laser pattern generators SEK 96
million to SMT equipment.
* Operating profit for the nine-month period amounted to SEK 6 million (-162).
For the third quarter, operating loss was SEK 81 million (-35).
* Operating profit adjusted for capitalization and amortization of development
costs for the nine-month period was SEK 50 million (-205). For the third
quarter, adjusted operating loss was SEK 64 million (-47).
* The loss after tax for the nine-month period is reported at SEK 1 million
(-115), equal to earnings per share of SEK -0.03 (-2.95). The loss after tax
for the third quarter was SEK 60 million (-25), equal to earnings per share of
SEK -0.92 (-0.64).
* The order backlog at September 30, 2009, was SEK 78 million (377) and
consisted of laser pattern generators and SMT equipment and related after
market orders. Of the total order backlog, SEK 16 million is attributable to
laser pattern generators and SEK 62 million to SMT equipment. The order backlog
at year-end 2008 was SEK 224 million.
* The Board of Directors anticipates total sales for the full year 2009 to be
in the range SEK 800 to 850 million. With this assessment, the proforma sales
2009 will be in the range SEK 1,020 to 1,070 million, compared to proforma
sales 2008 of SEK 1,194 million.
“This is the first quarter in which we are reporting consolidated figures for
the Micronic Group and its wholly owned subsidiary MYDATA. Third quarter order
intake for pattern generators was limited to after market services. Order
intake for SMT equipment is still weak even if there are signs of a higher
level of activity in the market,” says Sven Löfquist, President and CEO of
Micronic Laser Systems AB.
“Net sales for the third quarter, when no pattern generators were shipped,
reached a modest SEK 156 million. Order intake for SMT equipment provides a
reasonable picture of sales, since the amount of time between order and
delivery is normally 4-6 weeks,” adds Sven Löfquist.
“The semiconductor industry, which drives sales of both pattern generators
(Sigma and Omega) and SMT equipment, recovered during the third quarter, albeit
from a very low level and with a resulting general delay in order intake. For
displays, the continued record volumes have not yet resulted in new system
“The integrated Group will be organized in two business areas, focusing on
laser pattern generators and SMT equipment respectively. The Group's central
functions will include finance, IT, administra-tion, HR, QA, purchasing and
production. The integration process has been started and the Group's Swedish
operations will be concentrated in Täby during 2010.
“I am now leaving Micronic, a company which I co-founded 20 years ago, whereof
the last 9 years as CEO. It has been a fantastic journey, from start-up to a
world leading company active in pattern generation, supplying mission critical
equipment to the leading companies in the electronic industry, such as Intel,
Samsung and LGD. Under my leadership as CEO, we have transformed from a tech
company to a well established global high quality player in our field. What I
am most proud of is the great team of competent employees that under the
leadership of my successor, Peter Uddfors, will have the opportunity to
continue developing Micronic. Peter will take over the helm by December 1,
2009, at the latest and I welcome Peter onboard and wish him good luck,”
concludes Sven Löfquist.
President & CEO
+46 8 638 52 00
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