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Interim report - First quarter January-March 2011

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Täby, 28 April, 2011 - Micronic Mydata AB (publ) is listed on the NASDAQ OMX, Stockholm Small Cap: MICR. The information in this report is of the type that Micronic Mydata AB (publ) is required to disclose under the Swedish Securities Markets Act. The information was submitted for publication on 28 April, 2011, at 8am.

First quarter January-March 2011 (comparative figures refer to the first quarter 2010)

  • Net sales were SEK 255 (159) million.
  • The operating profit was SEK -19 (-70) million. 
  • The operating profit adjusted for capitalization
    and amortization of development costs was SEK -11 (-51) million.
  • Earnings per share were SEK -0.26 (-1.14).
  • Order intake was SEK 313 (336) million.
  • Order backlog at the end of the first quarter was SEK 210 (219) million.
    Order backlog at 31 December, 2010 was SEK 153 million.

Future outlook
Sales in 2010 amounted to SEK 1,288 million. The Board’s earlier assessment was that sales in 2011 would somewhat exceed those of 2010. The effects of the earthquake in Japan on Micronic Mydata’s sales of mask writers in the current year are still difficult to grasp. There is a risk that planned orders, and thus deliveries, could be postponed. Taking into account the above, the Board’s current assessment is that sales in 2011 will be in the range of SEK 1,100 to 1,300 million.

CEO comments
In March, an earthquake followed by a tsunami struck Japan. Japan is one of our most important markets, with 47 mask writers and 73 surface mount machines installed. We see that only few mask writer customers have been affected and we are working intensively to repair damages to their production equipment.
The earthquake will not lead to decreased consumption or manufacturing of electronics products and flat panel displays globally, but we will probably see short-term consequences. A shortage of components necessary for production and planned power outages together with other production disruptions can lead to investment postponements among customers and subcontractors. Sales of Surface Mount Technology (SMT) equipment in Japan has not been affected to any great extent.

Order intake and sales within business area SMT continued strong in the first quarter.

The launch of the faster MY100e series for mounting of components on circuit boards is underway. This is in line with our goal to further develop our existing product portfolio to strengthen our competitiveness.

Development of the new direct writer LDI continues according to plan. The first system is currently being evaluated by a customer for future production.

The display market continues to develop towards more complex displays with higher resolution and we see an increase in demand for touchpads and other mobile devices.

The aftermarket business continues to grow in volume and profitability for both business areas, providing a good basis for sustainable profitability.
 

Peter Uddfors
President and CEO 

Contact persons at Micronic Mydata:                                 

Peter Uddfors
CEO and President
+46 8 638 52 00

peter.uddfors@micronic-mydata.com

Carl-Johan Blomberg
CFO
+46 8 638 52 00 

carl-johan.blomberg@micronic-mydata.com

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